By Pacific Island Times News Staff
Bank of Guam announced that it has entered into agreements to purchase a portfolio of Guam-based commercial loans and mortgages from ANZ Guam.
Agreements were signed on Oct. 14 at the Bank of Guam Headquarters in Hagåtna.
The first phase of these agreements involves transitioning the commercial portfolio to Bank of Guam today, with the final phases expected by the end of the year.
"Bank of Guam is the ‘people’s bank’, known for their community focus. They are ideally placed to provide dedicated, local service to our commercial lending customers. ANZ will continue to service our deposit account customers while we are in ongoing discussions with a number of parties regarding the future of ANZ Guam Inc.," said Clarke Schaumann, regional country head of Guam and American Samoa and board director of ANZ Guam
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"For 50 years, we’ve worked hard to continue our legacy of service, and today, we not only grow in business but through the people we serve. We thank ANZ for trusting us with this opportunity to serve as the local trusted financial advisors to a new group of businesses and customers and we are proud to welcome them to the Bank of Guam Familia," said Joaquin Cook, president and CEO of Bank of Guam
Through this purchase, Bank of Guam said it continues its long-term growth strategy, providing depth in key markets and allowing the bank to leverage its legacy of service, expertise and integrated product offerings to an even broader base of customers.
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