ANZ recently completed "an internal review of all family-controlled banks in Hong Kong and concluded that it was not the right time to proceed," the
South China Morning Post reported.
The newspaper cited four family-controlled banks likely to have been of interest: Bank of East Asia, Wing Hang Bank, Dah Sing Bank and Chong Hing Bank. All are listed on the Hong Kong stock exchange.
ANZ responded to the SCMP's inquiries by pointing out that the bank is focussed on organic investment in China.