Investec Bank Australia incurred A$42.8 million of restructuring costs during the year to March, contributing to a loss of $71.9 million.The final outcome of the restructuring was announced in April, when the group said it would sell Investec Bank's professional finance, asset finance and leasing business, as well as its deposit book, to Bank of Queensland. About A$2.4 billion of loans and $2.7 billion of deposits are being sold.The company reported in its annual financial report, released yesterday, that the sale to BOQ was conditional on regulatory approvals and would be competed in the second half of the year.Explaining its decision to sell the business, Investec said "a number of businesses which lacked scale or alignment with the greater group were closed during the year."Following the sale, Investec will retain a business in Australia, focusing on corporate and institutional banking, investment banking and property fund management. Other specialist areas include aviation, commodity and resource finance, project finance.The ongoing non-bank subsidiary in Australia will have about 90 staff.Investec said that assets and liabilities relevant to the businesses that remain would be transferred to the balance sheets of either the UK or South Africa businesses, and new business will be written on either of those two balance sheets.The Australian operation made a loss of $5.4 million before restructuring costs and property finance losses.