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ANZ exits online share trading in $25m sale – The Australian Financial Review

Stockbroker CMC Markets will pay $25 million for ANZ’s online trading customer base, hastening the trans-Tasman bank’s retreat…

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ANZs statement said the sale was in line with its strategy to simplify the bank. All four of the major lenders have, to varying extents, abandoned the bancassurance model since the Hayne royal commission, bowing to public and political pressure to narrow…

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