Mike Hirst will remain at the helm of Bendigo and Adelaide Bank for "at least" another three years. The bank said it will extend his current term by two years, to June 2016. Hirst took over as CEO in 2009. Payday lender Money3 says it has sold A$7 million in new shares at 70 cents each. It said it will use the funds for "expansion of the branch network and the auto finance division." Westpac NZ's chief executive, Peter Clare, has been elected chairman of the New Zealand Bankers Association for 2013/14, replacing ANZ NZ chief executive David Hisco. ASB chief executive Barbara Chapman has been elected as deputy chair. The Australian Financial Review has seized on some cryptic comments by ANZ chief executive Mike Smith to speculate that the bank is looking for a buyer for its stake in Indonesia's Panin Bank. ANZ owns 39 per cent of Panin and the holding is valued at US$780 million. Smith is reported to have said on Wednesday: "I don't really mind if someone offers us a good price, then we will sell it. If we could buy it for a good price, Id be happy to buy it."