ANZ, Australia’s third largest bank by assets,
has completed its acquisition of Royal Bank of Scotland’s (RBS)
retail and commercial businesses in Asia-Pacific, adding 1.6
million new customers, $6.5bn of customer deposits and 49 branches
to its portfolio.
The bank’s acquisition of Indonesia, the sixth
and final market, comes after its take-over of RBS’s divisions in
the Philippines, Vietnam, Hong Kong, Taiwan and Singapore in an
effort to boost its presence in the region.
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Alex Thursby, the bank’s Europe and America
chief executive, said the bank will now focus on deepening ANZ’s
relationship with former RBS customers.
ANZ has re-branded the 18 RBS branches and 29
ATMs in Indonesia, with former customers able to continue accessing
branches.
The bank obtained in-principle approval for an
international banking licence in India (see
RBI 628) in March, paving the way for the bank to
re-enter the country for the first time since it sold Grindlays
Bank in 2000.
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