ANZ Asian chief executive Gilles Plante said the lender is looking to expand its franchise in Asia against a backdrop of a slowdown in its core domestic market.
Recently, ANZ received permission from Chinese regulators to use the RMB in its retail operations, thus become the first Australian financial institution.
Plante was quoted by the Dow Jones Newswires as saying that over the coming decade the bank has plans to expand its branch network in China to 20 outlets, and intends to hire hundreds of workers.
Currently ANZ operates seven branches in China with a work force of more than 550 employees.
The lender currently derives 14% of its profit from global operations, is all set to garner nearly 30% of annual profits from its global operations including Europe and North America by the year 2017.
Under Asian expansion strategy, ANZ acquired the Asian retail and commercial banking assets of Royal Bank of Scotland for $550m (A$520.4m) in 2009.
