Australia and New Zealand Banking Group said today that it has not ruled out every possibility for making a takeover bid for Korea Exchange Bank, the fifth largest lender in South Korea. The group said that it will make a bid for KEB if it would be on its strategy.

However, ANZ also cleared that it had not given any proposal for KEB. The announcement of ANZ came after the statement of KEB chief executive in which he said that KEB would be a suitable fit in ANZ's strategy.

ANZ's chief executive for Asia Pacific, Europe and the Americas Mr. Alex Thursby said today that the group will make any bid for Korea Exchange Bank, or any other target, only if it would fit in its strategy. He also cited other criteria like earnings per share in the medium term for any possible acquisition in near future. Mr. Thursby said that ANZ is in no rush and any acquisition has to meet those criteria.

Earlier in the day, Larry Klane, chief executive of KEB, said that the Korean bank would be a suitable fit for the Asia strategy of ANZ.

"ANZ is a fine institution based in Australia but with a growing pan-Asian footprint and aspiration, and I think it's in that context that they might find our franchise would fit in very nicely," said Mr. Klane, chief executive of KEB.