ANZ Finalises Takeover Of RBS Singapore Businesses

Vanessa Doctor

18 May 2010

ANZ has successfully completed the acquisition of the Royal Bank of Scotland's retail and commercial units in Singapore, with 6 new branches now open for business.

The new offices opened in 17 May with a ceremony at the ANZ Raffles Place branch. As part of the takeover, ANZ rebranded the 5 RBS branches and 19 ATMs and moved the clients and staff. Ex-RBS clients will retain their existing relationship managers and will continue to transact through ANZ.

Also announced was the launch of the ANZ Signature Priority Banking service for affluent clients.

"ANZ believes in building long-term relationships with customers and our immediate priority is to deepen our relationship with the thousands of Singaporeans -- from private investors and families, to managers and business owners," said Alex Thursby, the chief executive officer for Asia Pacific, Europe and America.

The bank has over 300,000 customers and more than 2,000 staff in Singapore alone and has strong positions in retail banking, wealth management, private banking and commercial and institutional banking. Singapore is the fifth of six markets where RBS businesses have transitioned to ANZ, which include Hong Kong, Taiwan, the Philippines and Vietnam. Indonesia is scheduled for June.