ANZ expands Asian perspective

The lender eyes Japan expansion apart from South Korea, China, Southeast Asia and India.

ANZ Banking Group Ltd says its failed bid for Korea Exchange Bank has broadened its outlook on the potential for expansion in northern Asia, according to The Weekend Australian.

"Because Japan and Korea are more developed economies, you don't think about their potential so much and you tend to get obsessed by the opportunities in greater China, greater Mekong (mainly Vietnam), Southeast Asia and India," ANZ chief executive Mr Smith told the paper.

"Quite interestingly, KEB has reopened my eyes to the possibilities in northern Asia."

But the bank, which aims to draw around 20 per cent of its 2011 profit from Asian operations, is also eying further expansion in Japan, according to the paper.

View the full story in Business Spectator.