See ya later poms.
Lloyds has received indicative bids for its Australian asset finance and commercial lending units that value them at $913 million.
Reuters News reports that the part-nationalised bank is preparing to exit the Australian market as part of a turnaround plan to sell non-core assets and focus on lending to British households and businesses.
The British government is also preparing to sell its 39% stake in the country's largest retail bank.
As well as exiting Australia, Lloyds is also selling its motor and equipment-leasing business Capital Finance and commercial lending operation BOS International.
About three buyers are likely to be shortlisted this month and a deal is expected to be struck by December. Lloyds is also planning the sale of a $636m loan portfolio within BOS International and has shortlisted at least five bidders, Reuters reported on August 2.
Goldman Sachs is advising Lloyds on the sales.
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image: © Herry Lawford