ANZ operates in Indonesia through its 85% owned subsidiary PT ANZ Panin Bank, trading as ANZ.

To support its growth in Indonesia, ANZ plans to expand capabilities in trade and supply chain finance, cash management, FX and debt capital markets and corporate banking services to large domestic companies, multinationals as well as international trade and investment companies.

ANZ will also expand retail banking services to focus on emerging affluent and affluent clients including growing ANZ’s branch and ATM networks to position ANZ as the leading foreign bank with a superior presence across Indonesia.

The bank said that it would continue to invest in a new core banking IT platform during 2010 that will provide capability to offer new products as well as better and more efficient customer service.

Mike Smith, CEO of ANZ, said: “We are on track to complete the acquisition of the RBS retail and commercial businesses in Indonesia in June 2010, subject to regulatory approval. This is a unique opportunity for ANZ to expand and strengthen our presence in Indonesia giving us one of the largest networks of branches and ATMs among the foreign banks.

“Our own organic growth plans will see us invest up to $100m in capital in Indonesia this year and expand our presence to a total to 28 branches across 11 cities and almost 1,000 full time employees.”

“Economic growth in Indonesia is expected to reach approximately 5.6% in 2010. We are optimistic about the economy’s prospects which are supported by the government’s commitment to infrastructure development and to continued economic reform.

“There is no question that Indonesia stands out as a key part of the Asian growth story. We expect urbanisation will see more than 50 million people move to cities in Indonesia over the next 20 years, second only in size to China’s urbanisation.

“Given this, Indonesia will be one of ANZ’s most important markets as part of our objective to become a super regional bank. Our operations here date back almost 40 years and we are a major investor in Indonesia including our interest of approximately 39% in PT Panin Bank.”

Recently, ANZ has completed the acquisition of RBS’s retail and commercial businesses in Hong Kong.