ANZ has acquired Royal Bank of Scotland’s
(RBS) former private banking business in Indonesia, part of a
sweeping purchase of selected RBS businesses in the Philippines,
Vietnam, Hong Kong, Taiwan and Singapore.

As part of the RBS acquisition in Indonesia,
ANZ acquired a team of private bankers and high net worth clients, adding
to its existing onshore private bank business in Indonesia,
an ANZ spokesman said.

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The bank said it will introduce its
Signature Priority Banking service in Indonesia, offering affluent
retail customers a relationship manager and wealth management
services.

Numerous banks have rolled out affluent
banking platforms in the last five years, including HSBC, with HSBC
Premier, Standard Chartered, with Priority Banking, and Citi, with
Citigold.

ANZ has been part of this trend since 2007 and
sees the high-margin affluent and emerging affluent segment as a
key focus in its private bank expansion.

In April, the Australian bank bought ABN AMRO’s private banking
business in Taiwan, as part of a wider purchase of RBS’s retail,
wealth, commercial and institutional bank.

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ANZ opened a new wealth management sub-branch
in Nagoya, Japan earlier this month to service affluent clients in
on of the country’s key cities.

The bank also services private banking clients
out of its hubs in Hong Kong and Singapore.

ANZ Signature Priority Banking is its banking
and wealth management service for affluent customers in Asia with
more than $100,000 of assets to invest. ANZ Private Bank
is its private banking service for high net worth clients.