ANZ Bank May Look At RBS Assets In China If Makes Financial Sense
October 05 2009 - 11:19PM
Dow Jones News
Australia & New Zealand Banking Group Ltd. (ANZBY) may take
another look at Royal Bank of Scotland Group PLC's (RBS.LN) banking
assets in China if it feels an acceptable price can be struck, a
spokesman for the Melbourne-based bank said Tuesday.
Talks between Standard Chartered PLC (STAN.LN) and RBS for the
sale of RBS' assets in China, India and Malaysia have failed, a
person familiar with the matter told Dow Jones Newswires
Saturday.
"Our chief executive Mike Smith has previously said ANZ would be
prepared to look at the RBS assets in China if financial sense
could be made of that," the ANZ spokesman said.
"At present, however, our priority is around regulatory
approvals and integration planning for the assets in the six
countries where we have already reached agreement with RBS," the
spokesman said.
"There are no discussions progressing on other matters at
present," he said.
But the group has indicated that it isn't interested in RBS'
banking operations in India at this stage, given it doesn't have a
banking license in that country.
"While India remains a priority market, our immediate focus
there is working to progress the application for a banking license
that ANZ made in late 2008," he said.
-By Lyndal McFarland, Dow Jones Newswires; 61-3-9292-2093;
lyndal.mcfarland@dowjones.com
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