Menu
Menu
ANZ completes acquisition of RBS Philippines

ANZ completes acquisition of RBS Philippines

ANZ Bank (ASX:ANZ) has completed the acquisition of the Royal Bank of Scotland’s Philippine branches, in the first stage of the $600 million acquisition of RBS’s Asian operations.

The company added that it expects to conclude the acquisition of RBS’s Vietnam business before the end of the year, and in the remaining four markets by mid-2010.

The company purchased RBS’s Asian operations – which include units in the above nations as well as Taiwan, Singapore, Indonesia and Hong Kong – for US$550 million (now $598.8 million) in August.

ANZ has integrated RBS’s Philippines business into ANZ’s existing Manila branch, the company said.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbankingANZ

Show Comments