In Brief: ANZ Said to Eye Some B of A Asia Operations

Australia & New Zealand Banking Group Ltd. may buy part of BankAmerica Corp.'s Asian retail business, according to Bloomberg News Service.

Both BankAmerica and the Australian bank known as ANZ declined to comment on the report, which first appeared in the Australian financial press.

BankAmerica announced this year that it will sell its retail banking activities in India, Taiwan, and Singapore as part of an Asian reorganization. The Charlotte, N.C., banking company plans to retain consumer operations in Hong Kong and Macau.

ANZ, Australia's fourth-biggest bank, earlier this month said it was embarking on a three-year program to expand retail banking in Asia.

Analysts said it was difficult to estimate how much BankAmerica might get for its Asian retail network in the absence of specific earnings and balance information. They said ANZ is among the stronger candidates to buy the network, alongside Standard Chartered Bank, ABN Amro, and local banks.