ANZ, the most
internationally-focused of Australia’s Big Four banks, has
successfully raised A$2.5 billion ($1.95 billion) ahead of the
possible purchase of some of Royal Bank of Scotland’s (RBS)
Asian-based assets.
ANZ, which continues to target at least 20 per
cent of revenue from Asia by 2012, said on 27 May it had lodged a
non-binding proposal for “selected [RBS] businesses”, but added
“the scope, terms (including regulatory approvals), timetable and
risk profile of any transaction… remain unknown.”
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Until the issue was announced, ANZ was the
only one of Australia’s Big Four banks not to have tapped
shareholders for capital since the onset of the current economic
crisis.
HSBC and Standard Chartered had also expressed
an interest in parts of RBS’s Asian assets, which analysts estimate
could fetch around $1.5 billion to $2 billion (see RBI 608).
At the end of 2008, RBS’ total loan portfolios
in its six biggest Asian markets –Taiwan, India, Indonesia,
Pakistan, Singapore and Hong Kong – totalled £2.38 billion ($3.8
billion).
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