ANZ Banking Group Ltd
(ASX:ANZ) says it has completed the acquisition of the Royal Bank of Scotland’s Taiwan businesses and will operate them under a new Chinese name from today.
CEO Asia Pacific, Europe and America Alex Thursby says the acquisitions mean the company is now a major bank in Taiwan, with 22 branches in the Chinese sovereign state.
The acquisition includes the ABN AMRO Private Banking business in Taiwan, which gives ANZ a private banking team to develop its private banking business in Greater China.
Mr Thursby says ANZ sees significant opportunities to grow in what is the fourth largest banking market and Asia’s fifth largest economy.
The acquisitions follow the completion of the RBS acquisitions in the Philippines, Vietnam and Hong Kong.
The bank also introduced its new ANZ Signature Priority Banking service in Taiwan for affluent retail customers.
For the 12 months to September 30, 2009, ANZ Bank reported a profit of $2.943 billion.
