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RBS' latest suitor for sale of China assets: ANZ
ANZ may take another look at RBS banking assets in China after Standard Chartered PLC pulled out of talks to buy the operations, says spokesman.
"ANZ would be prepared to look at the RBS assets in China if financial sense could be made of that," the 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," he said, in a report in the Wall Street Journal. However, ANZ Bank is currently not in any discussions with RBS on the China operations as of yet, he said. ANZ CEO Mike Smith revealed that the bank hopes to amass 20% of revenues from Asia by emerging as a “super regional bank.”
ANZ already has some presence in China. It holds banking licenses in three major cities, and holds stakes in Bank of Tianjin and Shanghai Rural Commercial Bank. It is also in the process of getting local incorporation in China.
"ANZ would be prepared to look at the RBS assets in China if financial sense could be made of that," the 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," he said, in a report in the Wall Street Journal. However, ANZ Bank is currently not in any discussions with RBS on the China operations as of yet, he said. ANZ CEO Mike Smith revealed that the bank hopes to amass 20% of revenues from Asia by emerging as a “super regional bank.”
ANZ already has some presence in China. It holds banking licenses in three major cities, and holds stakes in Bank of Tianjin and Shanghai Rural Commercial Bank. It is also in the process of getting local incorporation in China.
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