Colonial buys National Bank.
Colonial Ltd has purchased a controlling interest in the National Bank of Fiji.
This is certainly nothing to get too excited about, for 51% of the bank Colonial paid $7.6million, but perhaps the fundamentals of what they seem to be trying to achieve should be noted.
At a time when certain members of the big four are crying out to be allowed to merge with other members of the group, perhaps they would have been better off acquiring small parcels both domestically and internationally, as Colonial has done.
Thereby gradually building themselves into the position they wish to achieve, rather than trying to double overnight.