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ANZ takes aim at RBS Asia

02 March 2009 5:57PM
ANZ may be preparing to bid for most of the Asian operations of Royal Bank of Scotland, possibly for as much as US$3 billion, the South China Morning Post reported on Saturday. The newspaper reported that Credit Suisse was advising ANZ on the purchase.The RBS businesses in Asia are those developed both by RBS itself but mainly those of ABN Amro. The Australian stockbroking businesses of RBS are not part of the sale.ANZ aims to double profit from Asia over the five years to 2012 and has a stated aim of developing a "super regional" banking franchise.

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