ANZ Bank CEO Targets Growth In Hong Kong, Singapore, Taiwan
July 01 2009 - 3:05AM
Dow Jones News
Australia and New Zealand Banking Group Ltd. (ANZ.AU) Chief
Executive Mike Smith said in an interview released Wednesday that
he aims to grow the bank's operations in key markets around the
region, including Hong Kong, Singapore and Taiwan.
In an interview with The Asian Banker conducted last month but
released Wednesday, Smith said the bank remains in negotiations
with Royal Bank of Scotland Group PLC about potentially buying some
of the U.K. group's retail and commercial banking operations in
Asia.
"In terms of the (RBS) franchise, its rather a unique one, and
these things don't happen very often and I think it would be remiss
not to look at it very seriously," Smith said. He didn't say which
specific businesses ANZ was interested in.
In May, Melbourne-based ANZ raised capital to help fund a
potential acquisition in Asia as it strives to become a "super
regional" lender, but said it wasn't interested in all of RBS'
interests in the region.
"You don't necessarily want the whole thing...where you don't
feel you can execute in terms of integration. So I think you have
to be realistic about these things, and believe me, I have," Smith
told The Asian Banker.
He said the group is focussed on building its business in
Greater China, Hong Kong, Taiwan along with Indochina, which
includes Vietnam, Laos and Cambodia and South East Asian countries
Singapore and Indonesia.
Earlier Wednesday, Bloomberg News reported that ANZ was in talks
with RBS about its operations in Hong Kong, Singapore, Taiwan,
Vietnam and Indonesia. A spokesman for the bank declined to comment
on the report.
Smith also said the bank remains hopeful of securing a banking
license in India soon.
He also hopes to attract more international investors to ANZ's
share registry. Offshore investors currently hold around 20% of the
group's shares, but Smith said he'd like to boost that, given the
longer term investment horizon of many international funds.
-By Lyndal McFarland, Dow Jones Newswires; 61-3-9292-2093;
lyndal.mcfarland@dowjones.com
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