Transaction at ANZ office in Ha Noi. The bank expects to incorporate their Ha Noi branch into the AZN Bank Limited of Viet Nam – Photo azn.com HA NOI (Biz Hub) — The Australia and New Zealand Banking Group Limited (ANZ) successfully appealed to the State Bank of Vietnam to withdraw its Ha Noi branch operating licence. The branch's operations are being transferred to ANZ Bank Vietnam Limited. The State Bank's decision is effective as of October 5, 2016, after the governor of the State Bank of Viet Nam considered ANZ's appeal to revoke the operating licence, which was given in 1992 to ANZ's Ha Noi branch. The ANZ Ha Noi branch is responsible for the implementation of the decision and further assets liquidation, in addition to other legal procedures. ANZ decided to close the Ha Noi branch and incorporate ANZ's operations in Viet Nam with ANZ Bank Vietnam Limited, a 100 per cent foreign funded bank founded in 2009. ANZ Bank Vietnam Limited and ANZ's foreign branch in Ha Noi … [Read more...] about ANZ merges HN branch with ANZ Bank Vietnam
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Citibank launches consumer banking in Vietnam
Citibank launches consumer banking in Vietnam By Thuy Trieu - The Saigon Times Daily HCMC - Citibank N.A. Vietnam, the retail banking arm of the U.S.'s Citibank, on Tuesday launched consumer banking in Vietnam with the first retail outlet in HCMC enabling the bank to serve individual consumers. The Citibank retail outlet at Sunwah Tower in District 1 offers a wide range of savings and personal investment products such as multi-currency deposits, flexible interest bearing accounts and full online transactions. On this occasion, the bank introduced its wealth management service, Citigold, to consumers in Vietnam. Citigold is characterized by personalized banking products and services including other privileges. Citigold requires a minimum balance of US$50,000. Shirish Apte, CEO of Citi Asia Pacific, said at a press conference on Tuesday that Vietnam was one of the important markets of Citibank and the launch of its consumer banking here aimed to meet the increasing demand for premium … [Read more...] about Citibank launches consumer banking in Vietnam
ANZ to sell its Sacombank stake to Eximbank
The Hanoitimes - Australia and New Zealand Banking Group said on Thursday it will sell its entire 9.6 percent stake in Vietnam's Sacombank to Eximbank, another Vietnamese lender as it expands its own business in the Southeast Asian nation. The divestment is the first by a foreign bank in Vietnam, where 11 other domestic banks still have shares of up to 20 percent of their registered capital owned by foreign lenders.ANZ was expected to complete the sale early this month, ANZ said in a statement sent to Reuters.It came after Sacombank Chief Executive Officer Tran Xuan Huy was quoted by a state-run newspaper as saying the approval was granted by the State Bank of Vietnam, the country's central bank.The transfer would raise Eximbank's total stake in Sacombank to 9.73 percent, Huy was quoted as saying, without giving any value of the sale."The transaction is not material to ANZ and the sale terms are confidential," the ANZ statement said.Shares in Sacombank ended 1.25 percent lower at … [Read more...] about ANZ to sell its Sacombank stake to Eximbank
ANZ opens Signature Priority Banking branch in Hanoi
ANZ today opened a Signature Priority Banking branch in Hanoi, providing greater convenience to its affluent retail banking customers in Vietnam. The new branch complements ANZ's first Signature Priority Banking branch in Ho Chi Minh City, which was opened in September 2010. Joe Farrugia, head of Retail Banking & Wealth Management ANZ Vietnam, said: "Vietnam is a fast growing economy. ANZ is committed to supporting its customers to grow their wealth and enjoy convenient banking, and our new ANZ Signature Priority Banking branch in Hanoi is the latest milestone in delivering uncomplicated, personalised banking service." "At the core of Signature Priority Banking is the ANZ relationship manager who is dedicated to providing solutions to meet each customer's personal financial goals including saving, investment, protection, and borrowing. Each relationship manager is supported by a team of specialists who can provide advice on insurance and wealth management products and … [Read more...] about ANZ opens Signature Priority Banking branch in Hanoi
ANZ launches service to high-class clients
By Thu Thuy - The Saigon Times Daily Hans-Peter Borgh (R), ANZ head of Affluent Banking in Asia Pacific, gestures while introducing the private lounge to meet customers of the Signature Priority Banking at the bank’s transaction office at the Kumho Asiana Plaza on Monday - Photo: Thuy Trieu HCMC – ANZ Vietnam on Monday launched a suit of banking service called Signature Priority Banking, targeting affluent retail customers in Vietnam. Signature Priority Banking provides full banking and wealth management services for customers in Vietnam who has assets greater than US$50,000 in terms of deposit, investment, and insurance products at the bank. Hans-Peter Borgh, ANZ head of Affluent Banking in Asia Pacific, told a press meeting on Monday that the middle-income class in Vietnam was growing very fast in recent years and he forecast the number of clients using Signature Priority Banking of ANZ would also grow strongly in the future. According to ANZ’s research, … [Read more...] about ANZ launches service to high-class clients