Major Australian banks have been on the move after the country's domestic regulator instructed them to set aside more reserves against their oversized mortgage books. Australia's big four banks have been instructed to hold tier-one capital ratios to at least 8% by 2016.

Earlier this month, Commonwealth Bank of Australia (CBA) revealed a US$3.65 billion rights issue, and just last week Australia and New Zealand Banking Group (ANZ) announced that it was looking to sell its 39% stake in Bank Pan Indonesia Tbk (Panin).

The group originally bought the stake in the Indonesian bank for US$114 million in 2009. Working with Goldman Sachs, the bank is expected to draw bidders from China, Taiwan and Japan.

Originally the bank was in talks with Japan's Mizuho Financial Group in 2013 but was stalled due to Mizuho's request for Panin board seats was opposed by the Gunawan family, which controls 46.5% of the Indonesian Bank.

According to ANZ's latest annual report last December, the bank's common equity Tier 1 ratio stood at 8.4%, but this looks to improve following the sale of Panin.

It's the latest significant deal undertaken by the Australian bank and could lead to the bank selling its stakes in other Asian banks. ANZ already sold a 17.5% stake in Saigon Securities last year and 9.6% stake in Vietnam's Sacombank in 2012.

The developments comes on the heels of the company's announcement that it notched up US$3.5 billion in first-half profit, up 3% compared to the same time last year.

"Our domestic markets in Australia and New Zealand have again delivered strong growth and returns. We are investing heavily in areas of future profitability, particularly for our Australian business," comments Mike Smith, CEO of ANZ in a statement.

Aside from its stake in Panin, ANZ currently owns a 14% of Bank of Tianjin, 20% of Shanghai Rural Commercial Bank, 24% of AMMB Holdings and 40% of Metrobank Card Corporation but only time will tell if these stakes will soon be sold off.

"For the foreseeable future, we will be operating in a lower growth environment in which there will continue to be occasional volatility and shocks. Nevertheless, the outlook for credit quality remains relatively benign supported by low interest rates, the stimulus of a low oil price and an appreciating US Dollar. While China's economic growth is slowing, this process is being well managed," explains Smith.