Australia's ANZ quits retail banking in the Philippines

Australia's ANZ quits retail banking in the Philippines

A man walks past a branch of the Australia and New Zealand Banking Group Ltd (ANZ) in Sydney October 29, 2013. REUTERS/David Gray/File Photo

Australia and New Zealand Banking Group Ltd (ANZ) said on Monday it would close its Philippine retail banking business as big Australian banks try to shed capital-intensive assets amid stiffer bank capital rules.

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