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ANZ adds Guam to Pacific presence

ANZ adds Guam to Pacific presence

(21 February 2007 – Asia) ANZ is set to add another bank to its expanding Asia Pacific footprint with the purchase of Citizens Security Bank (CSB) in Guam for US$25 million. The island of Guam is part tourist destination, part US military base situated in the North Pacific Ocean, and belongs to the unincorporated territory of the United States.

It has a population of about 171,000 people and is propped up financially by the US Federal Treasury.

CSB is a community bank with four branches in Guam and assets of US$139 million.

ANZ managing director for the Pacific Mike Guerin said the acquisition of CSB meant the bank had a presence in the North Pacific for the first time.

"This move adds to our growth strategy in the Pacific – organically in our existing markets and through expansion into new geographies," he said.

ANZ employs more than 1500 people in 48 branches in 11 Pacific countries.
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