Australia and New Zealand Banking Group
(ASX:ANZ) will invest a further $300 million to expand its branch network in China.
The additional investment will see the bank having spent over $600 million in the region. ANZ’s chief says it has a long-term commitment to China and will continue to be an active investor.
The bank’s Asia Pacific, Europe and America divisions posted 21 per cent profit growth, in the first-half of this year.
China is expected to deliver significant profit earnings for the bank.
ANZ reported a first-half net profit of $2.9 billion.
