The Australia and New Zealand Banking Group (ANZ) on March 2 announced a new strategy to become the leading foreign bank in the Greater Mekong Sub-region (GMS) countries of Vietnam , Cambodia and Laos .
The strategy will focus on expanding its capacity in trade and supply chain finance, capital management, and foreign exchange and capital markets, as well as corporate banking services.
It will also aim to expand retail banking and wealth services with a focus on emerging affluent and already affluent clients, and to develop its branch and ATM networks in the regional markets.
Speaking at a press briefing in Hanoi , ANZ’s CEO Mike Smith said ANZ has invested more than 400 million USD over the past five years to develop a regional network and it is the only international bank having combined 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 the global economic downturn, Smith forecast the country is likely to record an economic growth rate of around 6.5 percent in 2010.
ANZ is one of the first foreign banks to operate in Vietnam , marking its first presence in the country in 1993. It officially began operations in its capacity as a wholly foreign-invested bank in early 2009./.
The strategy will focus on expanding its capacity in trade and supply chain finance, capital management, and foreign exchange and capital markets, as well as corporate banking services.
It will also aim to expand retail banking and wealth services with a focus on emerging affluent and already affluent clients, and to develop its branch and ATM networks in the regional markets.
Speaking at a press briefing in Hanoi , ANZ’s CEO Mike Smith said ANZ has invested more than 400 million USD over the past five years to develop a regional network and it is the only international bank having combined 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 the global economic downturn, Smith forecast the country is likely to record an economic growth rate of around 6.5 percent in 2010.
ANZ is one of the first foreign banks to operate in Vietnam , marking its first presence in the country in 1993. It officially began operations in its capacity as a wholly foreign-invested bank in early 2009./.
