ANZ completes RBS Singapore acquisition
Australia and New Zealand Banking Group Limited (ANZ) announced the completion of its acquisition of The Royal Bank of Scotland’s ("RBS") retail and commercial businesses in Singapore. The acquisition means the company now has six branches in Singapore, with over 300,000 customers.
ANZ CEO Asia Pacific, Europe and America, Alex Thursby, said the company has strong positions in retail banking, wealth management, private banking, commercial and institutional banking.
ANZ said it would officially open its new Singapore branches today, while it has re-branded the five RBS branches and 19 ATMs.
The company said Singapore is the fifth of six markets where RBS businesses have transitioned to ANZ following the completion of the RBS acquisitions in the Philippines, Vietnam, Hong Kong and Taiwan.
ANZ expects to complete the remaining acquisition in Indonesia in June.
At the close of trade Friday, ANZ shares were trading at $22.81.
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