ANZ Vietnam raises charter capital

The move aims to expand ANZ Vietnam’s lending capacity and help the branch cope with future possible bad loans.
In the era of global financial crisis and economic downturn, most of foreign banks operating in Việt Nam have still raised the charter capital of their local branches, said a recent report of the State Bank of Việt Nam (SBV).

The trend indicates that Việt Nam is a safe destination for foreign investors, SBV added.

ANZ Vietnam is one of the four leading foreign-owned branches in Việt Nam and it is planning to open six new exchange offices here. Currently, AZN Vietnam has two offices, one in Hà Nội and the other in Hồ Chí Minh City, and a system of ATMs scattered nationwide.

ANZ is trying to push its profits from investment activities in Asia to 20% of the Group’s total sum in the coming years, and Việt Nam is among the Group’s favorite Asian markets, said Mr. Mike Smith, ANZ’s Chief Executive Officer.

By Hải Minh