Bank of Queensland to sell NZ asset portfolio

Bank of Queensland

01/02/2024 22:40

Feb 2 (Reuters) - Bank of Queensland  BOQ.AX  said on
Friday it has agreed to sell its New Zealand asset portfolio to
UDC Finance, as a part of its efforts to streamline the bank's
operating model.
    As at Jan. 31, the size of the NZ portfolio was NZ$238
million ($145.94 million), the company said, adding that the
deal provides for the sale of the portfolio at 91% of book
value.
    
($1 = 1.6308 New Zealand dollars)

 (Reporting by Himanshi Akhand in Bengaluru; Editing by Shilpi
Majumdar)
 ((Himanshi.Akhand@thomsonreuters.com;))