ANZ closer to Asian RBS acquisitions
Australia and New Zealand Banking Group Limited (ANZ) said it has received regulatory approvals in the acquisition of the Royal Bank of Scotland’s Singapore and Taiwan businesses.
ANZ CEO Asia Pacific, Europe and America, Alex Thursby, said the acquisitions were progressing to plan, with Vietnam and the Philippines completed and Hong Kong, Taiwan, Singapore and Indonesia expected to be completed in the next three months.
The bank said it received approval from the Monetary Authority of Singapore allowing ANZ to operate as a full bank in Singapore with up to 25 service locations and approval from Taiwan’s Financial Supervisory Commission for the RBS Taiwan acquisition to proceed.
“Singapore plays an important role in ANZ’s strategy as a banking and wealth management centre for our affluent retail and private bank clients, a focal point for our institutional clients, and a hub for our product businesses and support functions,” Mr Thursby said.
“Taiwan is a key market in our Greater China strategy and the acquisition gives ANZ a substantial Taiwan business with more than one million customers and a sizable commercial and institutional client base.”
ANZ said the Singapore and Taiwan acquisitions would give it more than 2,000 additional staff and 1.65 million additional customers.
As at 1500 AEDT, ANZ shares were up 12c to $23.94.
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