The ANZ Vietnam One-member Limited Liability Bank (ANZ Vietnam) began operating on May 25 with the opening of an exchange in Hanoi and a branch in Ho Chi Minh City.
This is part of the Australian and New Zealand Banking Group’s (ANZ) network expansion plan after it received its licence to establish a wholly-foreign invested bank in Vietnam in October last year.
At the opening ceremony in Hanoi, ANZ Vietnam General Director Dam Bich Thuy said that the bank represents ANZ’s commitment to retaining long-term investment in Vietnam and also aims to provide more convenient services to its Vietnamese clients.
ANZ is one of the leading banks in the Asia-Pacific region and the world with total assets of AUD503 million. It has been rated AA in credit sustainability by Standard & Poor’s for many years.
The group commenced operations in Vietnam in 1993.