In a statement,
The company is also targeting an IPO of its affordable housing business - in which it is aiming for an internal rate of return of about 40% - as a fund in 2016/2017.
Adding to the planned wave of corporate activity is a target to divest
The restructuring plans came alongside plans for
The bank expects to maintain positive operating leverage, while continuing to invest in business growth and managing the cost:income ratio at around 40% over the next two to three years.
The bank will also continue to aim to maintain a dividend payout ratio in the 25%-40% range, in addition to the plans to consider special dividends.
It also said it expects its net interest margin to be about 7.5% over the next two to three years. In its 2013 annual report the bank had outlined a 7.0% to 7.5% net interest margin target for the next two to three years. Its net interest margin was 7.8% in 2013.
Meanwhile, the company's investment management division is targeting
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