ANZ Bank May Look At RBS Assets In China If Makes Financial Sense

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

Australia And New Zealan... (ASX:ANZ)
Historical Stock Chart
From May 2024 to Jun 2024