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The Australia and New Zealand Banking Group (ANZ) plans to sell its Việt Nam retail business, a source close to the matter has told the Saigon Times Online. According to the source, three foreign and two local banks are hoping to acquire ANZ’s retail business…
The Australian bank said it will focus on its institutional banking, its biggest business in the region. Australian lender ANZ has announced to sell its retail business in Vietnam to South Korea’s Shinhan to focus resources on institutional banking. The bank…
Three foreign banks and two domestic banks, which have not been named, were reported by SaigonTimes as being interested in acquiring the retail businesses of the 100 per cent foreign-owned bank. Last October, ANZ Group CEO Mr. Shayne Elliot was quoted as…
The divestment was consistent with the bank’s strategy of simplifying its business and narrowing the focus of its Asian operations on institutional business, analyst David Ellis said in a research note released yesterday. The sale followed those of five Asian…
Just like real estate is about location, location and location, private banking is about scale, scale and scale – it is what’s needed to cope with the high cost of the business, say industry players. Monday’s surprise move by DBS Bank to snap up most of ANZ’s…
It has been an interesting week for Australian bank ANZ. On Monday it agreed a deal with Singaporean bank DBS to dispose of its Asian wealth units. Now it appears the bank has hired Goldman Sachs for another deal. According to a report the bank has appointed…
ANZ has taken a major step toward exiting Asian retail banking and wealth management with an agreement to sell businesses in five countries to Singapore’s DBS bank. Australia’s fourth-largest lender on Monday said DBS will pay book value plus $110 million for…
Singapore’s retail sector is going through a rough patch. As the economy slows, shops are being boarded up and retail rents are falling. And yet, amid this gloom, consumers continue to spend – though there is a shift in the pattern and quantum of their…
ANZ Bank’s wealth chief, Joyce Phillips, is departing the banking giant following a restructure of the $67 billion institution’s wealth management arm. Chief executive Shayne Elliott said the group was simplifying its approach to wealth management, which…
Hong Kong retail sales fell 3.7 percent last year the worst in 13 years, including the 2.3 percent slide during the 2003 SARS epidemic with a gloomy outlook also forecast for this year. Retail sales fell to HK$475 billion, with volume slipping 0.3 percent, a…
Although currently weak in personal finances, consumers in Singapore have expressed confidence over the next five years. This has led December’s level of consumer confidence to rise to levels above the long-term average, according to the results of the…
ANZ has officially opened a branch in Myanmar after receiving final regulatory approval from the south-east Asian nation’s central bank. The branch has been established to service multinational and joint venture companies with a presence in Myanmar, as well…
ANZ has announced the establishment of a new branch in the Chinese city of Qingdao as the bank continues its growth in markets abroad. The Qingdao branch will cover the entire Shandong Province and will offer products and services for ANZ’s corporate…
The upcoming Singapore Savings Bonds and stricter rules on how much capital banks must hold may be driving lenders to offer enticing promotional rates for fixed deposits. A shortage of funds on deposit available to banks for lending might also have prompted…
