ANZ completes acquisition of RBS Taiwan
Australia and New Zealand Banking Group Limited (ANZ) said it has completed the acquisition of The Royal Bank of Scotland (“RBS”) Taiwan businesses, including the additional acquisition of the ABN AMRO Private Banking business in Taiwan. The company said following the completion of the acquisition it now has 22 branches in Taiwan after 30 years of operation in the Chinese sovereign state.
ANZ CEO Asia Pacific, Europe and America, Alex Thursby, said the company can see a significant opportunity to grow in the fourth largest banking market and the fifth largest economy in Asia both domestically and connecting ANZ’s Taiwanese customers across Greater China and the Asia Pacific region.
The company said the retail, wealth, commercial and institutional businesses of RBS in Taiwan and the ABN AMRO Private Banking business in Taiwan were previously joined, prior to the sale of ABN AMRO to a consortium including RBS in 2007, and they remain closely connected sharing systems and technology.
”The Private Bank acquisition gives ANZ a private banking team in Taiwan to develop ANZ’s private banking business in Greater China, adding operations in the Taiwanese cities of Taipei, Taichung and Kaohsiung,” ANZ said.
The company launched a new Chinese name - Au Sheng Yin Hang – to coincide with the acquisition. The new name is to be used in Taiwan from today and be progressively rolled out in China and Hong Kong.
ANZ also introduced its new ANZ Signature Priority Banking service in Taiwan for affluent retail customers.
The Taiwan acquisition follows the completion of the RBS acquisitions in the Philippines, Vietnam and Hong Kong.
ANZ said it is acquiring the RBS retail and commercial businesses in Taiwan, Singapore, Indonesia and Hong Kong, and the institutional businesses in Taiwan, the Philippines and Vietnam. The acquisition in Taiwan excludes the RBS securities business.
At the close of trade Friday, ANZ shares were trading at $25.69.
Leave a Reply