CBA, NAB say exposures total less than A$250 mln
16th Sep 08, 4:56pm
Commonwealth Bank of Australia, which owns ASB Bank in New Zealand, has announced its exposure to the Lehman Bros group of companies was less than A$150 million. National Australia Bank, which owns the BNZ in New Zealand, said its exposures were less than A$100 million. Earlier Westpac said its exposure to Lehman Bros was less than A$10 million, while ANZ said its exposure totalled US$120 million (A$150 million at current exchange rates of 79 US cents). The means the major Australian (and therefore New Zealand) banks have a collective exposure of up to A$410 million (NZ$500 million).