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CBA to open first branch in Vietnam

CBA to open first branch in Vietnam

(14 January 2008 – Vietnam) Commonwealth Bank has been given the green light from Vietnam’s central bank to open a branch in Ho Chi Minh City. CBA has had a representative office in Hanoi for some 13 years but the Ho Chi Minh branch marks the bank’s first in Vietnam.

The bank said the branch, which is set to open in April, will focus on the growing needs of CBA customers as well as other Australians who either sent money to Vietnam or did business in the country.

CBA group executive for International Financial Services, Garry Mackrell, said the bank would look to facilitate economic, trade and payment flows between the two countries.

Danny Armstrong is heading up CBA’s Vietnam business and will build a local team.
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