ANZ completes RBS Taiwanese acquisition
The ANZ Banking Group has completed its acquisition of the Royal Bank of Scotland’s (RBS's) Taiwanese businesses and has announced the similar conclusion of its acquisition of ABN AMRO’s private banking business in Taiwan.
Completion of the acquisition sees ANZ launch a new Chinese name, Au Sheng Yin Hang, which it will use immediately in Taiwan before rolling it out across Hong Kong and China consistent with obtaining regulatory approvals.
Announcing finalisation of the transactions today, ANZ chief executive for Asia Pacific, Europe and America Alex Thursby said the acquisitions made ANZ a major bank in Taiwan with 22 branches and a substantial business covering retail, wealth, commercial, institutional and private banking.
He said ANZ saw a significant opportunity to grow in Taiwan domestically and connect its Taiwanese customers across Greater China and the Asia Pacific.
ANZ acquired the RBS retail and commercial businesses in Taiwan, Singapore, Indonesia and Hong Kong and the institutional businesses in Taiwan, the Philippines and Vietnam.
AUTHOR
Mike Taylor
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