Nov 6 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX (ANZ) said on Monday it would close its Philippine retail banking business as big Australian banks try to shed capital-intensive assets amid stiffer bank capital rules.
"This decision is in line with ANZ's strategic priority to simplify the bank and improve capital efficiency," the bank said in a statement, adding the move would allows it to focus its resources on its institutional banking operations in the Southeast Asian nation.