New name for ANZ

ANZ will introduce a new brand for its businesses in greater China, the bank said yesterday. The transliteration of the new Chinese name is Au Sheng Yin Hang, or Australian prosperous bank.

The bank said the new name applied to its newly acquired business in Taiwan immediately. ANZ completed the takeover of that business from RBS yesterday.

The new name will be used in Hong Kong and China later.

In Taiwan - ANZ's largest banking business in Asia - this is the second shift in branding this decade (given the RBS takeover of ABN Amro in 2007).