The Australia and New Zealand BankingGroup (ANZ) on March 2 announced a new strategy to become the leadingforeign bank in the Greater Mekong Sub-region (GMS) countries ofVietnam , Cambodia and Laos .
The strategy willfocus on expanding its capacity in trade and supply chain finance,capital management, and foreign exchange and capital markets, as wellas corporate banking services.
It will also aim to expand retail banking and wealth services with afocus on emerging affluent and already affluent clients, and to developits branch and ATM networks in the regional markets.
Speaking at a press briefing in Hanoi , ANZ’s CEO Mike Smith said ANZhas invested more than 400 million USD over the past five years todevelop a regional network and it is the only international bank havingcombined operation in Vietnam , Cambodia and Laos .
With its AA-rating, ANZ is uniquely positioned to support economic growth and development in the GMS, the CEO said.
Having emphasised that Vietnam has proved to be resilient during theglobal economic downturn, Smith forecast the country is likely torecord an economic growth rate of around 6.5 percent in 2010.
ANZ is one of the first foreign banks to operate in Vietnam , markingits first presence in the country in 1993. It officially beganoperations in its capacity as a wholly foreign-invested bank in early2009./.
The strategy willfocus on expanding its capacity in trade and supply chain finance,capital management, and foreign exchange and capital markets, as wellas corporate banking services.
It will also aim to expand retail banking and wealth services with afocus on emerging affluent and already affluent clients, and to developits branch and ATM networks in the regional markets.
Speaking at a press briefing in Hanoi , ANZ’s CEO Mike Smith said ANZhas invested more than 400 million USD over the past five years todevelop a regional network and it is the only international bank havingcombined operation in Vietnam , Cambodia and Laos .
With its AA-rating, ANZ is uniquely positioned to support economic growth and development in the GMS, the CEO said.
Having emphasised that Vietnam has proved to be resilient during theglobal economic downturn, Smith forecast the country is likely torecord an economic growth rate of around 6.5 percent in 2010.
ANZ is one of the first foreign banks to operate in Vietnam , markingits first presence in the country in 1993. It officially beganoperations in its capacity as a wholly foreign-invested bank in early2009./.
