|
|
 TOP STORIESWill ANZ succeed in Asia?5 August 2009COMMENTSANZ is already in Asia, so it knows the market better than other firms of a similar size. Read all comments »Can an Aussie bank cut it with the big boys in Asia? ANZ has been growing in the region for several years, but has now become a much larger player after agreeing to buy some of RBS’s Asian businesses for about $US550m. The firm is snapping up the retail, wealth management and commercial businesses in Taiwan, Singapore, Indonesia and Hong Kong, as well as RBS's institutional banking operations in Taiwan, the Philippines and Vietnam. Is this a once-in-a-generation opportunity for ANZ to really expand outside its small domestic market, or is the bank opening up a can of integration worms as RBS did when it bought ABN AMRO? How will the enlarged ANZ perform in the competitive, banking-hub markets of Hong Kong and Singapore? And is the RBS purchase a sign of more expansion on the horizon? “It’s not a transformational acquisition, but it is a stepping stone that complements our existing business,’’ chief executive Mike Smith told a briefing in Hong Kong. The cashed-up ANZ has confirmed it has capacity for as many as three other takeovers the size of the RBS deal, although the prospect of a large-scale Asian acquisition is still some time off. Is Asia the perfect match for ANZ? Let us know below.
COMMENTSGlen, Industry & Commerce, Wed 05 Aug 09Taiwan is the biggest part....1.3 million customers and $2.7 billion in deposits. So, it's not just sg and hk. This has made anz truly regional Add your comment »hh, Industry & Commerce, Wed 05 Aug 09ANZ is already in Asia, so it knows the market better than other firms of a similar size. The RBS buyout was an obvious one for ANZ - a good fit. Add your comment »buddyterry, Thu 06 Aug 09ANZ has formed a certain network in Asia so far. Now ANZ is changing it label and soon it will come into public this Ocbtober. New advertising campaign signal the business re-contruction. Aim of the its future business will be sophisticated into the area, Australia, New zealand and Asian. I personally expect ANZ could do a great job as the in-charge Mike smith has his long-servant in Asian during this tenure in HSBC.His strong network and experience certainly will be an advantage over his other opponents from its own soil. Add your comment »Matt, Operations, Thu 06 Aug 09Time will tell if they can compete with established names like StanChart & HSBC Add your comment »Keith, Retail Banking, Thu 06 Aug 09Go for it ANZ.... if you need a hand I spent 18 months in China working for Commercial Banks. Add your comment »
|
Copyright © Rainmaker Information. All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher. | |||||||||||||||||||||||||||
