The Australian has reported that ANZ Banking Group Ltd
(ASX:ANZ) says its failed bid for Korea Exchange Bank has broadened its outlook on the potential for expansion in northern Asia.
ANZ chief executive Mike Smith told the paper that because Japan and Korea are more developed nations, people forget to think about their potential and mainly focus on opportunities in greater China, Vietnam and India.
Mr Smith says that Korea Exchange Bank reopened his eyes to the possibilities in northern Asia.
He added that ANZ could boost its presence in Korea without necessarily buying anything.
For the year ended 30 September 2010, ANZ reported a net profit of $4.5 billion.
