Bloomberg Westpac Banking Corp has agreed to sell its life insurance unit to Dai-ichi Life Holdings Inc’s Australian subsidiary TAL for $660 million as Australia’s second-largest lender continues to jettison non-core assets to focus on lending. The completion of the transaction, confirming an earlier Bloomberg report, is expected to happen in the second half of next year, Westpac said. Under ...

Bloomberg Citigroup Inc has sold the first of 13 markets Chief Executive Officer Jane Fraser put on the block, agreeing a deal to offload its Australian consumer unit to National Australia Bank Ltd. The Australian lender will pay the US bank cash for the net assets of the Citigroup Consumer Business plus a premium of A$250 million ($184 million), according ...

Bloomberg India’s central bank kept interest rates unchanged at a record low to support the economy, even as a split appeared among policy makers on continuing with the lower-for-longer stance. The Reserve Bank of India’s (RBI) six-member Monetary Policy Committee retained its main repurchase rate at 4%, as predicted by all 29 economists in a Bloomberg survey. Policy makers voted ...