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CBA opens first branch in Vietnam

CBA opens first branch in Vietnam

(5 September 2008 – Vietnam) Commonwealth Bank of Australia (CBA) has announced the opening of its first branch in Vietnam. CBA has added to its presence in South East Asia with the opening of its first branch in Ho Chi Minh City, Vietnam.

Garry Mackrell, group executive, International Financial Services said that Australia is home to one of the largest Vietnamese populations outside Vietnam itself and more and more Australians are visiting Vietnam every year.

Therefore, the new branch means that CBA is well placed to provide financial services and solutions for CBA customers with interests in the region, he said.

CBA expects this branch will significantly improve services for their existing customers doing business in the region, as well as providing a strong and reliable foreign banking alternative to local expatriates and the people of Ho Chi Minh City.

CBA will provide banking products, including transaction, savings and investment accounts, loans, foreign exchange and remittances and international trade services.

The bank will offer international money transfers (IMT) from Australia to Vietnam in Vietnamese currency (Dong) via internet banking and will waive the IMT fee.

CBA also has a representative office in the Vietnamese capital Hanoi, which has been operating for 14 years.
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