ANZ Vietnam to Take Over RBS Operation in Vietnam
ANZ Bank (Vietnam) Limited, the second 100 per cent foreign-invested bank in the country behind HSBC, will manage the wholesale banking operation of the Royal Bank of Scotland (RBS) in Vietnam.
The agreement is part of the deal that the Australia and New Zealand Banking Group (ANZ) has reached to acquire a share of the Asian operations of RBS. The deal costs US$550 million.
ANZ will take over wholesale banking operations of RBS in Taiwan, the Philippines and Vietnam and the retail banking, financial consultancy and individual investment business in China, Singapore, Indonesia and Hong Kong.
RBS’s Vietnam branch, with 30 staff serving 100 clients, now has US$45 million in deposits. (Saigon Economic Times, Investment)
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