•   Info@gbs.com.vn
  •   Call Us: (+84-28) 3500 2828


Our News

GBS - ANZ has agreed to sell its retail business in Vietnam to South Korea’s Shinhan Bank Vietnam, part of a broader retreat from Asia retail banking.
ANZ said its retail business served 125,000 customers in Vietnam and included A$320m ($240m) in lending assets and A$800m in deposits, but did not disclose the terms of the deal, stating that “premium to book value for the sale of the retail business in Vietnam is not material to the ANZ Group.”

The deal, subject to regulatory approval and expected to be completed by the end of 2017, is the latest step in the Australian lender’s retreat from the retail banking sector in Asia. It follows ANZ’s sale of a 20 per cent stake in Shanghai Rural Commercial bank in January and comes as the bank seeks to divest from similar stakes or joint ventures in Malaysia, Indonesia, China and the Philippines.

Farhan Faruqui, head of international business at ANZ, said the agreement included all eight branches in Hanoi and Ho Chi Minh City and ongoing roles for all retail staff.

Mr Faruqui said the sale is “in line with our strategy to simplify the bank and improve capital efficiency. It allows us to focus resources on our largest business in Asia -institutional banking.”

- Hudson Lockett, Financial Times

GBS is one of the best business law firms in Vietnam with a network South East Asia, Middle East, Japan, HongKong, Malta and Poland.

Twitter Feed

#Incorporate a company in Vietnam For foreign investors, GBS's lawyer will advise on the legal #incorporation,... https://t.co/yx9l7nbjly
Investing in Vietnam with GBS The easiest way to invest in Vietnam is using company formation services of Global... https://t.co/0xszuPJ0Yg
Vietnam’s Jan-Nov FDI rises 11.9 pct y/y... https://t.co/nbyHYFHNU1
Follow GBS on Twitter

Contact Info

GBS Co., Ltd
8th Floor , Trade Centre Building, 135A Pasteur Str, Ward 6, Dist. 3, Ho Chi Minh City, Vietnam

Hotline | Whatsapp | Viber | iMessage: (+84) 903189033

This email address is being protected from spambots. You need JavaScript enabled to view it.

(+84 - 28) 3500 2828


8.00 am to 5.00 pm