ANZ continues its Vietnamese take over
(8 December 2009 – Vietnam) Australia and New Zealand Banking Group Limited (ANZ) has announced that it has reached two further milestones in the growth of its business in Vietnam.
The group has taken over the Royal Bank of Scotland Group’s (RBS) businesses in Vietnam and has opened its tenth branch in the Vietnam city of Ho Chi Minh City.
Vietnam is one of ANZ’s priority markets in Asia Pacific and the second of six markets to transition to ANZ ownership after the RBS acquisition was completed in the Philippines late last month.
The group is acquiring the RBS retail, wealth and commercial businesses in Taiwan, Singapore, Indonesia and Hong King.
They will also acquire the institutional businesses in Taiwan the Philippines and Vietnam; with the approximate value for the takeovers totalling US$500 million (A$600 million).
Alex Thursby, chief executive officer, ANZ Asia Pacific, Europe and America, said that the group has now completed the acquisition in two of the six markets and is continuing to make good progress executing plans in the four remaining markets where ANZ is acquiring larger businesses.
The group’s next planned acquisition in Hong Kong should be completed before the end of March 2010 and in the remaining markets by mid 2010.
Thuy Dam, chief executive officer, Greater Mekong and Vietnam, said that the group welcomes its new clients and staff joining them from RBS, joining ANZ at an exciting time in Vietnam as the bank continues to grow and open branches.
Vietnam is one of ANZ’s priority markets in Asia Pacific and the second of six markets to transition to ANZ ownership after the RBS acquisition was completed in the Philippines late last month.
The group is acquiring the RBS retail, wealth and commercial businesses in Taiwan, Singapore, Indonesia and Hong King.
They will also acquire the institutional businesses in Taiwan the Philippines and Vietnam; with the approximate value for the takeovers totalling US$500 million (A$600 million).
Alex Thursby, chief executive officer, ANZ Asia Pacific, Europe and America, said that the group has now completed the acquisition in two of the six markets and is continuing to make good progress executing plans in the four remaining markets where ANZ is acquiring larger businesses.
The group’s next planned acquisition in Hong Kong should be completed before the end of March 2010 and in the remaining markets by mid 2010.
Thuy Dam, chief executive officer, Greater Mekong and Vietnam, said that the group welcomes its new clients and staff joining them from RBS, joining ANZ at an exciting time in Vietnam as the bank continues to grow and open branches.
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