SYDNEY, April 18 (Reuters) - Australia and New Zealand Banking Group (ANZ) ANZ.AX said it was considering "strategic options" for plant and equipment financing unit UDC Finance, but that it has yet to decide whether to sell it, a bank spokesman said on Monday.
The news was first reported by Australian Financial Review's Street Talk column, saying Deutsche Bank (DE:DBKGn) was sounding out potential private equity and other potential buyers on ANZ's behalf.
"As part of ANZ's strategy to review our focus on where we allocate capital and resources, we explore various strategic options from time to time," the spokesman said. "It remains very preliminary and no decisions have been made."
Deutsche Bank wasn't immediately available for comment.
UDC Finance is a wholly-owned subsidiary of ANZ Bank New Zealand with access to a committed facility of NZ$800 million ($554 million) from the bank, according to its website.
The potential sale comes at a time when Australian banks, including ANZ, are grappling with slowing credit growth, narrowing profit margins and stricter regulations forcing them to reconsider how they deploy capital. year, ANZ sold its vehicle finance portfolio to Macquarie Group MQG.AX in an auction handled by Deutsche Bank. = 1.4451 New Zealand dollars)