The deal is expected to be sealed in the second half of the 2020 calendar year. The sale of UDC Finance provides about USD 422 million of Level 2 Group CET1 capital, according to THE BUSINESS TIMES. For ANZ, Level 2 as per regulatory supervision includes the capital of the group excluding associates, insurance, and funds management entities, among others.
For Shinsei Bank, it is one of the biggest overseas acquisition. The Japanese lender said in a statement that its consolidated capital adequacy ratio is expected to decline about 0.4% points once it acquires UDC Finance.
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