AUSTRALIA’S ANZ BUYS CITIZENS SECURITY BANK ON GUAM

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AUSTRALIA’S ANZ BUYS CITIZENS SECURITY BANK ON GUAM

SUVA, Fiji (Fiji Times, Feb. 21) - Australia and New Zealand Banking Group Limited has reached an agreement to acquire Citizens Security Bank in Guam for about US$25 million (FJ$41.8 million).

[PIR editor’s note: According to KUAM News on Guam, former Lt. Gov. Kurt Moylan, the chairman of Citizens Security Bank, said that the bank's parent company, Citizens Bancorp, has been purchased by ANZ.]

ANZ Managing Director, Pacific Mike Guerin said the acquisition would extend ANZ's presence in the region into the North Pacific for the first time.

He said the purchase would also help expand the range of financial services available to customers in Guam.

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