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Briefs: ANZ planning UDC Finance sale, Westpac confirms Nauru reports

ANZ is planning to sell its equipment financing company, UDC Finance, the Australian Financial Review reports. ANZ has hired Deutsche Bank to test market reaction to a sale. UDC is owned by ANZ New Zealand. ANZ sold Esanda Finance to Macquarie Group last year for A$8.2 billion. Westpac has confirmed reports from the ABC and Guardian Australia that it has ended its banking relationship with the Nauru Government. The bank is said to be concerned about money laundering and terrorism financing risks in the country. The ABC reports that Westpac has also written to customers who do business with the Nauru Government that they will have to close their accounts.

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