Australia and New Zealand Banking Group (ANZ) has completed the acquisition of retail and commercial businesses of The Royal Bank of Scotland (RBS) in Singapore. ANZ has opened its six branches for business in Singapore that include five former RBS branches and its private bank branch.

ANZ has re-branded five RBS branches and 19 ATMs, and moved customers and staff to ANZ. Former RBS customers retain their existing relationship managers and can continue to access branches, internet banking, ATMs and the Singapore ATM5 network. ANZ has also introduced Signature Priority Banking service for affluent retail customers.

Alex Thursby, CEO of ANZ Asia Pacific, Europe and America, said: “ANZ is now a leading international bank in Singapore with more than 300,000 customers and strong positions in retail banking, wealth management, private banking, commercial and institutional banking.

“Our new customers in Singapore will benefit from ANZ’s extensive Asia Pacific network and the confidence and backing that comes from our standing as one of the world’s safest banks.”

Singapore is the fifth of six markets where RBS businesses have transitioned to ANZ following the completion of the RBS acquisitions in the Philippines, Vietnam, Hong Kong and Taiwan. ANZ expects to complete the remaining acquisition in Indonesia in June.