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News | Wednesday, 23 December 2009

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‘Oz bank’ pulls out

Commonwealth Bank of Australia Ltd (CBA) has decided to pull out of its structured finance operations in Malta, due to problems associated with aggressive tax planning and the complex financial products involved.
The decision was revealed in Monday’s edition of The Australian newspaper.
Sources told the paper that the bank had decided to wind down its structured finance operation and said that some senior structured finance staff at CBA were considering their options.
czahra@mediatoday.com.mt

 

 


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