National Bank bid in Aust.
NZPA-AAP Sydney Lloyds International, Ltd, has announced that it will transfer ownership to its wholly-owned subsidiary, the National Bank of New Zealand, if granted a banking licence. The National Bank of New Zealand is involved in discussions with the Federal Government, the Treasury and the Reserve Bank for an authority to carry on full banking services in Australia. The National Bank of New Zealand was named among the original 16 successful applicants for a banking licence earlier this year.
Once the discussions are completed, which are considered a formality, the name will be changed to Lloyds Bank, NZA, Ltd, and a new merchant bank, named Lloyds International, Ltd, will be incorporated. But there will be no beneficial change of ownership of Australian operations as Lloyds Bank, PLC, is the ultimate parent of both the present Lloyds International, Ltd, and The National Bank of New Zealand.
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Press, 19 September 1985, Page 39
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150National Bank bid in Aust. Press, 19 September 1985, Page 39
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