Vanuatu took a 20% stake in BIV in 1983 as BIV was performing a number of central banking functions, though it was not the monetary authority. In 1993, Bank of Hawaii acquired Banque Indosuez's operations in Vanuatu to form Banque d’Hawaii (Vanuatu). Bank of Hawaii sold these operations to Australia and New Zealand Banking Group in 2001. In 1982, following Indosuez's nationalization, the Malaysian activities were reorganized as the Malaysian-French Bank. These were acquired by Multi-Purpose Capital Holdings Berhad in 1987, and renamed Alliance Bank Malaysia Berhad in 2001 after merger with six other banking institutions in Malaysia. In 1983 the government of Papua New Guinea invited foreign banks to open affiliates on condition that the foreign parent could only own 49 percent. However, it agreed that Bank of Papua New Guinea (BPNG; the central bank) would buy that portion of the remaining shares that local investors did not take up. Banque Indosuez established Banque Indosuez Niugini—49 percent Indosuez, 41.5 percent BPNG, and the remainder public. In 1997, Bank of Hawaii purchased Banque Indosuez Nuigini Ltd in Papua New Guinea from Banque Indosuez and renamed it Bank of Hawaii (PNG) Ltd. In 1989, Banque Indosuez closed its branch at Mata-Utu in Wallis and Futuna. Westpac acquired Banque de Polynésie in 1990, when Indosuez was divesting itself of almost all of its overseas retail banking operations. In New Caledonia, Westpac also acquired the operations of Banque Indosuez in 1990, but sold them in 1998 to Société Générale Calédonienne de Banque, a subsidiary of Société Générale. The activity in Djibouti became Banque Indosuez Mer Rouge and later Bank of Africa (Red Sea), the second largest bank in Djibouti. See also Paribas Notes Defunct banks of France