CBA wealth exodus continues with possible Indonesian sale
Clancy Yeates |
29 March 2018
Commonwealth Bank may sell its Indonesian life insurance business for hundreds of millions of dollars, as the banking industry's exodus from the lower-returning wealth management sector continues.
In the latest sign more wealth assets could soon be offloaded by a local bank, CBA on Thursday said it was "exploring alternatives" for PT Commonwealth Life, with investment bankers appointed to advise on a potential sale.