The sale, originally announced in June 2020, followed a strategic review by ANZ Bank New Zealand and is in line with ANZ’s strategy to simplify its business.
The transaction, which provides ~10bps of Level 2 Group CET1 capital, will further strengthen ANZ New Zealand’s balance sheet position.
 CET1 impact post-RBNZ capital changes is ~15pts. The profit and loss impact of the sale of UDC will be included in ANZ’s Cash Profit and highlighted as a Large / Notable item. UDC transaction and financial summary was provided in ANZ’s news release of 2 June, 2020