The sale and even the liquidation of BNK Banking Corp has to be a theme of the year.
The board of BNK tried and failed to sell the bank, the ADI, at the same time late last year as they offloaded the Finsure aggregation business – and not for much money.
Fintechs will still be sniffing around but BNK are stuffed and handing the BNK ADI licence back to APRA.
They have a client list to sell, but that’s about it. The sell off will be soon, no doubt.