Australia moves to keep its banks in the Pacific

Australia moves to keep its banks in the Pacific …C0NTINUE READING HERE >>>

Australia is close to inking a deal that will keep ANZ Bank open in several important Pacific nations.
Photo: William WEST / AFP
Source: AFP

Australia will move to stem the exodus of its banks from the Pacific Islands, the country’s top economic official said, as concerns mount that China could bolster its influence by filling in the gaps.

For years, Western banks have been shuttering branches throughout the South Pacific, citing political turmoil, wafer-thin profits and the high cost…

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