KSL: Kina Securities successfully completes ANZ PNG acqn.

Australia and New Zealand Banking Group Limited ABN 11 005 357 522


23 September 2019






Kina Bank successfully completes transformative acquisition of ANZ PNG’s Retail,
Commercial and SME business



Pursuant to the NZX Listing Rules, please find attached an announcement released by a third party,
Kina Securities Limited (KSL), on ASX and cross-released under ANZ’s ASX ticker code.



Yours faithfully


Simon Pordage
Company Secretary
Australia and New Zealand Banking Group Limited

Company Secretary’s Office
ANZ Centre Melbourne, Level 9, 833 Collins Street, Docklands Vic 3008
GPO Box 254, MELBOURNE VIC 3001 AUSTRALIA
www.anz.com

23 September 2019
Kina Bank successfully completes transformative acquisition of ANZ
PNG’s Retail, Commercial and SME business
Kina Securities Limited (ASX:KSL PNGX:KSL) (Kina Group, Group, the Company) is pleased to
announce that its wholly-owned subsidiary, Kina Bank Limited (Kina Bank), has achieved
Practical Completion of its transformative acquisition of Australia and New Zealand Banking
Group Limited’s (ASX:ANZ) Retail, Commercial and Small to Medium Enterprise (SME) business
in Papua New Guinea (ANZ PNG).
K
ina Group’s CEO, Greg Pawson, said “the acquisition is a significant development for the Group
and for Kina Bank”.
“Completing the acquisition is a milestone for the Company and it represents a key component
of our five-year strategic plan. It supports our objectives to deliver greater value to our customers
and develop a more resilient and sustainable Group. It further strengthens our market position in
retail, commercial and SME banking as we become the second largest retail bank in Papua New
Guinea. The acquisition also provides scale to invest in new banking capabilities and improve the
value of our product offering to new and existing customers through a national network of
branches, ATMs and EFTPOS terminals.”
K
ina Bank entered into a binding Sale and Purchase Agreement (SPA) with ANZ PNG in June
2018. The acquisition includes:
1
.Retail customer deposits and loans (including credit cards);
2.Commercial/SME customer loans and deposits;
3.ANZ PNG’s 15 retail branch premises;
4.Relevant employees; and
5.72 ATMs and over 1,800 EFTPOS terminals (both in branch and standalone) used by ANZ
PNG.
The financial metrics of the acquisition remain in line with the Company’s announcement to the
market on 25 June 2018. Under the SPA, the Financial Settlement will be completed on 6
November 2019. The Total Capital ratio post the acquisition will be 18%.
K
ina Group remains confident with the previous earnings estimates from the ANZ business.
For more information:
Greg Pawson
Chief Executive Officer and Managing Director
Email: Greg.Pawson@kinabank.com.pg

Chetan Chopra
Chief Financial Officer and Company Secretary
Email: Chetan.Chopra@kinabank.com.pg