HOMEPAGE
Hot Properties
ADB: Vietnam’s 2009 GDP growth to be highest in South East Asia
MGM Grand Ho Tram: Vietnam’s First ‘Las Vegas Style’ Integrated Resort
Nha Trang’s Twin Towers project licenced
Foreign investors still have good opportunities in Vietnam
Sierra Wireless gets a foot in Vietnam’s ICT market
INDOCHINA INTERNATIONAL CONSULTING CO., LTD
HO Add: 62L/36 Nguyên Hồng, Ward 11, Bình Thạnh District, HCMC - Vietnam
Biz Office Add: #48 Road No 11, Quarter 6, Hiệp Binh Chánh Ward, Thủ Đức, HCMC - Vietnam
®Source: http://viipip.com should be clearly quoted for any use of information extracted from our website.
Publication permit No: 60/GP-TTĐT , April 05, 2010.
ANZ sells retail business to Shinhan Bank Vietnam
Date: 4/23/2017 10:24:17 PM
ANZ has entered into an agreement to sell its Vietnamese retail business to Shinhan Bank Vietnam in a shift to focus on institutional banking in the country, the Australian lender said Friday.
The transfer is expected to be finalized by the end of this year, ANZ, fully known as the Australia and New Zealand Banking Group Limited, said in a statement.
Shinhan Bank Vietnam is part of the Shinhan Financial Group, a South Korean company listed on the Korean and New York stock exchanges.
The sale of ANZ retail business is in line with the strategy to simplify the bank and improve capital efficiency, according to ANZ Group Executive, International Farhan Faruqui.
The sale now allows ANZ to focus resources on its largest business in Asia - institutional banking.
“We have a long history in Vietnam and we will be maintaining our presence through our Institutional Bank in Vietnam which will continue to support our corporate clients in the Greater Mekong Region,” Faruqui said.
The agreement with Shinhan Bank Vietnam includes all eight branches located in Hanoi and Ho Chi Minh City, and ongoing roles for all retail staff, the executive elaborated.
“This will help ensure a smooth transition for our customers, while presenting a great opportunity for our people to join a retail bank with significant growth plans,” he added.
The retail business being sold serves 125,000 customers in Vietnam, and includes AUD$320 million (US$240.6 million) in lending assets and AUD$800 million (US$601.5 million) in deposits.
ANZ expects the transfer of the Vietnam retail business to Shinhan Bank Vietnam will be completed by the end of 2017.
ANZ’s Institutional Bank has a presence in 15 different markets in Asia and was ranked as a top four corporate bank in the region by Greenwich Associates in 2016.
The sale of ANZ’s retail business in Vietnam follows the announcement in October 2016 of the sale of ANZ’s retail and wealth business in five Asian countries to DBS.
(Source:Tuổi Trẻ News)
Other news- Vietnam will become a destination for Chinese investors in the future (11/6/2023 1:03:19 PM)
- Thua Thien - Hue: Calling for investment (11/6/2023 1:00:42 PM)
- Hai Phong Planning to establish a series of industrial parks and economic zones (11/6/2023 12:58:13 PM)
- The Fastest Growing Economies In 2024 (11/6/2023 12:56:34 PM)
- Hai Phong reached the target of attracting FDI capital (10/17/2023 5:18:21 PM)
- Long An has 1,215 FDI projects with capital of 10,519 million USD (10/17/2023 8:40:41 AM)
- What do FDI enterprises recommend to the Vietnamese Government? (10/17/2023 8:38:33 AM)
- Vietnams 3 commitments to foreign businesses and investors (10/17/2023 8:35:45 AM)
- Up to now (2023), how much money have Asian tigers invested in Vietnam? (10/17/2023 8:31:59 AM)
- Another semiconductor manufacturer expands in Vietnam (10/17/2023 8:30:44 AM)
- Billions of dollars poured into Vietnamese semiconductor projects (10/17/2023 8:26:09 AM)
- Revealing the reason why Central region continuously invested by giants Foxconn, Goertek... (10/17/2023 8:24:49 AM)
- VIFTA: Vietnam-Israel Boulevard opened (8/28/2023 9:29:44 AM)
- Wistron announced to pour another 24.5 million USD into Vietnam to build a new factory. (8/28/2023 9:28:33 AM)
- Formulate policies to develop the logistics industry (8/28/2023 8:50:54 AM)
NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
