June 24, 2018 / 11:02 PM / in a year

Commonwealth Bank of Australia to spin off wealth management and mortgage broking arm

June 25 (Reuters) - Commonwealth Bank of Australia (CBA) said on Monday it would demerge its wealth management and mortgage broking businesses, CFS Group, and undertake a strategic review of its general insurance business, including a potential sale.

“CFS Group will benefit from a separate listing and ability to pursue its own growth strategies,” the bank said in a statement. (Reporting by Rushil Dutta in Bengaluru; Editing by Peter Cooney)

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