bank.

The Bank of Butterfield International (Guernsey) Limited bought ANZ Bank (Guernsey) Limited for cash in a deal that was closed last Friday. ANZ bank is a subsidiary of Australia & New Zealand Banking Group Limited of Melbourne, Australia.

While bank officials would not divulge the purchase price, Graham Brooks, executive vice president of International Banking and Trust with the Bank of Butterfield, said: "It was obtained for a small premium of its net asset value.'' ANZ Bank (Guernsey) Limited will be re-named The Bank of Butterfield & Son (Guernsey) Limited, pending its amalgamation prior to the end of March 2000 after which time the combined business will then operate.