Lloyds could sell Oz assets to Macquarie

City A.M. Reporter
INVESTMENT bank Macquarie has made a final offer of AU$9bn (£5.2bn) for Lloyds Banking Group’s Australian assets, Bloomberg reported last night.

If the sale goes ahead it would be the latest in a long line of divestments which have seen the British lender exit overseas markets. Foreign private banking operations have been sold off, along with its German insurance arm.

It is part of a re-focusing of the group which has seen the lender return to profit in recent months, allowing the government to start selling its stake in the bank.