Australia & New Zealand Banking Group is expected to acquire Royal Bank of Scotland’s Taiwanese banking assets – reported Dow Jones newswires. It has said in a report carried in The Australian newspaper that the Taiwan asset will be the first of several commercial and retail banking units sold by RBS in Asia, reported Bloomberg.
After posting one of the heavy losses in the UK corporate history, the government controlled bank is seeking to cut down its operations in 36 nations. It has been reported that ANZ is in advanced negotiations to purchase the retail and commercial-banking units in Hong Kong, Taiwan, Singapore, Vietnam and Indonesia.
Paul Edwards, a spokesman for Melbourne-based ANZ told the newspaper that discussions with Edinburgh-based RBS are continuing on selected Asian assets, and they’re progressing well. However, he refused to give details about whether they include RBS’ Taiwan operations or not.
