BANK MERGER TO GIVE STRENGTH
LONDON, Feb". 21. The Finaneial Times uiulerstands that negotiations for the merger of the Bank of Australasia and Union Bunl of Australia has been proceeding more j than 18 months. The objeet behind the j amalgamation is to put the eonibined ; institution in a stronger position to | meet the growing demand for linaneiaJ | aceommodation which is antieipated j during the economic development oi , the Dominions and take advantage oi | the industrial expansion which is j expected. The Finaneial Times, in an eclitorial. .suvjs nearly two decades have elapsed since an amalgamation between two big lianking institutions. Of even greater j import.anee, however, i:> the role the | combined .institution will piay in the; economic development of Australia and i New Zealand. The evidence is ample j that capitul is seeking an outlet there. i 'J'heir executives are feeling thaj; as separate entities tiiese banks are1' not j large enough to eope with the expand- 1 ing business and investment which is anticipnted and have arranged a marriage ■S'n the principle uiiitv is strength.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19470222.2.40
Bibliographic details
Chronicle (Levin), 22 February 1947, Page 8
Word Count
177BANK MERGER TO GIVE STRENGTH Chronicle (Levin), 22 February 1947, Page 8
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in