ANZ's Asian business growing strongly

Singapore

THE Australia and New Zealand Banking Group's Asian business is growing strongly with gains in FX and interest rates, cash management and trade, said Andrew Géczy, its chief executive for international and institutional banking.

South-east Asia, and Singapore in particular, are doing very well as the Australian bank increases its market share in both institutional and retail banking, said the Melbourne-based Mr Géczy via a telephone interview on Thursday. ANZ, the most international of Australia's four major banks, last week posted record annual net profit of A$7.3 billion (S$8.24 billion) - up 15 per cent - fuelled by its Asian franchise.