ANZ continues China expansion with new sub-branch in Guangzh

Media Release

For Release: 17 July 2012

ANZ continues China expansion with new sub-branch in Guangzhou

Australia and New Zealand Banking Group Limited (ANZ) today announced the opening of a new sub-branch in TianHe district, the busiest commercial district of Guangzhou, as part of the bank’s continued growth in the Pearl River Delta.

ANZ China now has seven outlets in Beijing, Shanghai, Chongqing and Guangzhou, and the TianHe sub-branch is part of ANZ’s plan to increase its network in China to 20 outlets subject to regulatory approval.

Following the launch of Retail Renminbi (RMB) services for domestic residents in Beijing and Shanghai in June, ANZ will introduce similar services in Guangzhou upon receiving final approval from the regulator.

ANZ China CEO Charles Li said: “We look forward to becoming the first Australian bank to offer retail customers in the Pearl River Delta products and services in local currency, furthering our ability to support customers in managing their wealth.

“Our expanded footprint and increased capabilities in the Pearl River Delta mean we are better able to meet the growing financial services needs of individuals and corporations in this dynamic region, which is a key manufacturing and export hub in China with significant growth opportunities in trade and investment flows.

“It also means we are able to open up more business opportunities for our network customers across the Asia Pacific region including Australia and New Zealand,” Mr Li said.

The TianHe sub-branch will provide individual clients with easy access to banking services from a location convenient to Guangzhou’s busiest commercial street, and will offer a wide range of services including deposits, mortgages, wealth management and international banking services for overseas study and migration.

The sub-branch is located at Hai Hang Building, Lin He Zhong Road, TianHe district Guangzhou. Opening hours are Monday to Friday, 9:00am to 4:30pm.

With an established presence in China since 1986, ANZ was locally incorporated in 2010 and has strategic partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin, and a wholly-owned rural bank in Liangping county, the Chongqing Liangping ANZ Rural Bank.

ENDS

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