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Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2012
Sep 20, 2012
10425_rns_2012-09-20_023ce56c-fc00-4cff-92ad-89020008d8ad.pdf
Capital/Financing Update
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Media Release
For Release: 21 September 2012
ANZ agrees to sell Origin to Columbus Capital
ANZ today announced it has agreed to sell its wholesale mortgage distribution business, Origin Mortgage Management Services (Origin), to Columbus Capital.
Origin provides funding for approximately $2.2 billion of residential mortgages through a network of Mortgage Managers who originate and manage the mortgages under their own brands.
The sale is consistent with ANZ's focus on the growth of its own branded mortgage products and its disciplined approach to capital management.
ANZ has agreed to provide transitional services to Columbus Capital for up to 12 months following completion of the sale and the effect on existing borrowers funded by Origin is expected to be minimal.
Established in 2006, Columbus Capital is a diversified non-bank financial group focused on mortgage lending and funds management.
The transaction is not material to ANZ and is expected to complete in the coming weeks. The terms of the sale were not disclosed.
For media enquiries contact:
Stephen Ries Senior Manager Media Relations Tel: 03-8654 3659 or 0409-655 551 Email: [email protected]
Australia and New Zealand Banking Group Limited ABN 11 005 357 522