ANZ push further into China & Indonesia
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ANZ continues to drive it’s growth strategy in China with two big announcements for the week. ANZ announced Christine Ip as the new head of banking operations in China and increased it’s stake in the Indonesian bank PT Panin Bank.
The ANZ has been a long term investor in the PT Panin Bank and took the opportunity to buy another 8.4% of the bank from institutional investors for US$114 million. The increased holding takes ANZ to 38.3% ownership of the seventh largest bank in Indonesia.
Meanwhile, ANZ announced Christine Ip as the head of operations for the China banking operations in what ANZ is aiming to become one of the top four foreign banks in China.
Christine Ip joins ANZ from Standard Chartered Bank and has strong credentials and contacts to drive ANZ in China.
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