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Report: ANZ mulls over sale of AMMB stake

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Report: ANZ mulls over sale of AMMB stake

Australia &New Zealand Banking Group Ltd. is considering a sale for its 24% stakein Malaysia's AMMB Holdings Bhd.,Reuters reported April 8, citing "four people familiar with the matter."

The potential sale comes amid CEO Shayne Elliott's push to ANZ's Asian operationsand focus on the bank's core domestic market.

Both ANZ and AMMB Holdings declined to comment on the report,the news outlet said.

An Australian parliamentary inquiry recently ANZ over its stake in AMMB Holdingsunit AmBank (M) Bhd.,which is embroiled in a corruption scandal involving Malaysian state fund 1MDB.