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ANZ Retail Wealth Asia

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Key Information

  • ANZ’s strategic review found that to make a real difference for our Asia Retail and Wealth customers and to expand the business, ANZ would need to significantly increase its investment in its branch network and digital capability.
  • Given our competitive position, the significant improvements made by Asian retail banks in recent years and the returns available to ANZ, on Monday 31 October 2016, we announced we will be selling our retail and wealth business in Singapore, Hong Kong, China, Taiwan and Indonesia to the DBS Bank Limited (DBS). This will enable us to focus our presence in Asia on our Institutional business.
  • The sale will enable us to focus our business in Asia on Institutional Banking where we are ranked a top four corporate bank with a significant presence in 15 countries in the region.
  • This is not a decision we have made lightly but we are confident DBS will be able to lift the Retail and Wealth business to the next level for our customers.
  • This transaction with DBS represents a great opportunity for our customers to benefit from a progressive and dynamic retail and wealth bank that has great expansion plans.
  • DBS has been involved in banking in the region since 1968 with staff across 18 countries in Asia. DBS was named the region's safest bank by Global Finance.
  • The migration will be done by country and subject to legal and regulatory approvals, during 2017 and early 2018. This is on track.

Frequently asked questions

  1. Why has ANZ sold its Asia Retail and Wealth business?

    We have looked carefully at our Retail and Wealth business in Asia to see how we could continue to build a truly world class bank for our customers.

    What our strategic review found was that to make a real difference for our Asia Retail and Wealth customers, ANZ would need to significantly increase its investment in its branch network and digital capability.

    After considering the various investment priorities ANZ has across its portfolio of businesses, we felt the retail opportunity could be better and more efficiently delivered by a larger local player that already has scale in the region.

    It was important to us to find a buyer that would benefit our customers, that's why we're pleased for our customers that we're able to sell the business to DBS, a progressive and dynamic company with a strong footprint across the region.

    We're confident DBS will be able to lift ANZ's Asia Retail and Wealth business to the next level for our Retail and Wealth customers.

  2. When will the transfer take place?

    We can confirm that the transfer of ANZ’s Retail and Wealth businesses in each market will take effect from the following dates, subject to the successful migration between ANZ and DBS:

    • China: 15 July 2017 – transfer completed
    • Singapore: August 5 2017 - transfer completed
    • Hong Kong: 9 September 2017
    • Taiwan: 25 November 2017
    • Indonesia: Early 2018

    For more information, you can visit pages dedicated to each market via the links at the top of this page.

  3. I'm an ANZ customer, why would I want to bank with DBS?

    You may be familiar with DBS; they've been involved in banking in the region since 1968 with more than 21,000 staff across 18 countries in Asia.

    We are pleased for our Asia Retail and Wealth customers that we are able to sell the business to DBS, a company that has financial strength and has its roots firmly in Asia.

    We are confident DBS, who are already considered the safest bank in Asia, will be able to lift ANZ's Asia Retail and Wealth business to the next level through their strong digital offering and footprint across the region.

  4. When and how can I find out more?

    For each market, customers will be receiving information regarding the transfer and their banking services around a month prior to the transfer date. In the meantime, you can visit pages dedicated to each market via the links at the top of this page.

  5. How will this impact my banking?

    This has no immediate impact on you or the way we do business together. Customers will be receiving information regarding the transfer and their banking services around a month prior to the transfer date.

    If the transfer in your market has been successfully completed (refer to question 2 above), you can find more information by visiting pages dedicated to each market via the links at the top of this page.

  6. Do I need to move my bank account to DBS?

    No, you don't need to do anything to move your bank account to DBS. All your bank accounts that are in place or outstanding with ANZ on the transfer date will be transferred to DBS. ANZ and DBS are working together to ensure a smooth transition for you, and we will continue to keep you updated.

  7. What if I do not want to move my banking to DBS?

    We believe DBS is ideally placed to lift service for our ANZ's Retail and Wealth businesses to the next level, with its large and growing network in Asia and we will be encouraging our customers to transfer from ANZ to DBS as part of the transaction.

  8. What will happen to my existing ANZ loan, credit card, loyalty program points etc.?

    For each market, customers will be receiving information regarding the transfer and their banking services around a month prior to the transfer date. In the meantime, you can visit pages dedicated to each market via the links at the top of this page.

  9. As an ANZ customer can I now access DBS products and services?

    As an ANZ customer, you do not have access to any DBS products or services beyond any arrangements you may already have with them.

    For the time being, you should continue to use ANZ branches, ATMs, products and services.

  10. If I'm an Institutional customer, what does this mean for me?

    The sale doesn't involve our Institutional business.

    ANZ is committed to our Institutional business in Asia where we are already a top four corporate bank with a strong competitive position supporting our clients, driven by trade and capital flows in the region.

Reminder – Banking securely online and on mobile

• Do not disclose your personal, financial or credit card information to unknown or suspicious websites.

• ANZ will not send you an email or SMS asking you to verify or provide account details, financial details, or login detail for ANZ Phone Banking, ANZ Internet Banking or ANZ Mobile Banking.

• ANZ will not request you to divulge your Username and Password. You should never share these with anyone.

 

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