Top firm interested in RBS Asia-Pacific assets


Australia & New Zealand Banking Group is interested in acquiring assets from Royal Bank of Scotland as the lender cuts back its operations in the Asia-Pacific region.

'I’m interested in looking at their assets across the region', Andrew Geczy, head of ANZ’s international and institutional banking business, said in an interview in Sydney Wednesday. 'There’s opportunities that happen as many of the European and American banks retrace back home'.

Bloomberg News reports that acquisitions from RBS would help bulk up ANZ’s presence in a region where it competes with large global banks such as Citigroup and HSBC.

ANZ is seeking to double the percentage of profit it gets from businesses outside Australia and New Zealand to as much as 30% by 2017, according to a bank strategy briefing in March 2011.

To access the complete Bloomberg News article hit the link below:

ANZ Bank Is Interested in RBS’s Asia-Pacific Assets

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