What is happening?

On 4 August 2009 ANZ announced that it had reached agreement with the Royal Bank of Scotland Group plc to acquire the RBS retail, wealth and commercial businesses in Taiwan, Singapore, Indonesia* and Hong Kong, and the institutional businesses in Taiwan, the Philippines and Vietnam for around US$550 million in cash.

*The Indonesian business will be acquired through ANZ's 85%-owned subsidiary, PT ANZ Panin Bank.

Why is ANZ interested in acquiring these RBS Asia businesses?
  • The acquisition of the RBS businesses will provide a significant step forward in ANZ's goal to be a super regional bank.
  • It will transform ANZ's wealth and retail banking platform in Asia Pacific.
  • As one of just 11 AA-rated banks** ANZ is one of very few banks in the world with the ambition, the strategy and financial strength to take advantage of opportunities such as this.
  • ANZ anticipates strong returns and material revenue upside from the merged business after they have been fully integrated, and through the additional scale and business platforms in new markets.

**ANZ has a long-term credit rating of “AA” with Standard & Poor's Rating Services and “Aa1” with Moody's Investor Services Limited, as at August 2009

What happens next?
  • The announcement on 4 August 2009 is the first step.  RBS and ANZ will now seek the approval of various regulators, governments, central banks and other stakeholders for the merger in each of the six countries.
How long will the integration take?
  • Integration will begin in each country once ANZ receives regulatory approval and the transaction officially completes in each country.
  • In each market ANZ anticipates completion progressively from late-2009.
What are the benefits to customers?
  • Customers will be part of a strong and well capitalised bank, committed to and focused on Asia.
  • A broader retail branch network that will provide better access for customers, and a wider range of financial products including wealth management products and targeted solutions and credit card products and services. 
  • We continue to offer customers a market-leading institutional bank with relationships and linkages across 30 countries globally.
How does this acquisition fit with ANZ's super regional strategy?
  • ANZ's planned acquisition of selected RBS businesses is very much in line with its public strategy to build a super regional bank in Asia Pacific.
  • The acquisition of the RBS businesses will provide a significant step forward in ANZ's goal to be a  super regional bank, transforming our wealth and retail banking platform in Asia.
Will the RBS Asia businesses ANZ has acquired take on the ANZ brand?
  • All RBS badged products and facilities will migrate to the ANZ brand over time. ANZ's aim is to do so without disrupting or confusing our customers and in a cost effective way.
  • ANZ is progressively launching its new brand into Asia and has a range of marketing and promotional initiatives planned to build and strengthen its presence in the region.  This will continue to be implemented on a country-by-country basis. 
  • In terms of the RBS transition to the ANZ brand, nothing will happen until regulatory approvals are received and the transaction is completed in each market.