Raw Japan

Slices of Japanese business, politics and life

Asia banks eye gaps on the Western front


Mike Smith, the chief executive of Australia and New Zealand Banking Group Ltd, is looking to fill some gaps.

As global banks such as Royal Bank of Scotland Plc and Citigroup Inc reel from losses on toxic investments and take massive government bailouts, Smith reckons he may be able to steal some business in Asia.

“Citi is still there, but of course everyone is waiting to see what happens,” Smith told a news conference in Hong Kong recently.


“So, yes, there’s a gap in the market and I think we’re the obvious contender to fill it.”