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Vietnam Retail

Tiếng Việt

For more information

Important update

  • We have sent a letter to all of our retail customers on 08 August 2017 to provide an update about the transfer of ANZ Vietnam's Retail business to Shinhan Bank Vietnam and details of the transfer process.
  • If you are an ANZ retail customer, please sign and return the Transfer Consent Form to ANZ, and carefully read the Terms of Transfer.

Key information:

  • ANZ has entered an agreement to sell its Retail business in Vietnam to Shinhan Bank Vietnam, a subsidiary of a South Korean company listed dually on the Korean and New York stock exchanges.
  • For retail customers there will be no change in relation to our services and products, the staff serving them today will be the same serving them tomorrow.
  • We have a long history in Vietnam and we will be maintaining our presence through our institutional bank which will continue to support our corporate clients in Vietnam and the Greater Mekong Region.
  • The transaction follows a strategic review of our retail and wealth operations in Asia, as we looked at options to simplify the bank and distribute capital more efficiently across the Group.
  • This transaction includes eight branches in Hanoi and Ho Chi Minh City, along with all staff who support the Retail business. This means continuity for customers but also greater career opportunities for our people to join a bank with growth ambitions for its retail business.
  • Shinhan Bank has been in Vietnam since 1993 and is one of the country's first 100 per cent foreign owned banks. It currently has 18 branches, the most of any foreign bank. Recently, it had four more branches approved by the State Bank of Vietnam.
  • The agreement is subject to regulatory approval and we expect it to be complete by the end of 2017.


Frequently Asked Questions:

1. Why has ANZ sold its Retail business in Vietnam?

Over the past year, we have looked carefully at our Retail businesses in Asia to see how we could continue to build a truly world class bank for our customers.

What our strategic review found was that to make a real difference for our Retail customers in Asia, ANZ would need to significantly increase its investment in its branch network and digital capability.

Last year we announced the sale of our retail and wealth businesses in Singapore, Hong Kong, China, Taiwan and Indonesia to DBS Bank Limited.

We are pleased to have now found a buyer who we believe will be able to take our profitable and growing Retail business in Vietnam to the next level for our customers.

Shinhan Bank has been in Vietnam since 1993 and is one of the country's first 100 percent foreign owned banks. It currently has 18 branches here, the most of any foreign bank.

It's a major international bank with a significant growth and expansion strategy for Vietnam and the region. Its investment in digital innovation will be of great benefit to our customers.

2. Are any other parts of the ANZ Vietnam business involved in the sale?

No. Only the Retail business has been sold to Shinhan Bank Vietnam.

3. I'm an ANZ customer, why would I want to bank with Shinhan Bank Vietnam?

By 2020 Shinhan Bank Vietnam aims to be the market leading retail bank in both Hanoi and HCMC, and the number one digital bank in Vietnam.

It aggressive investment in its branch network and digital capability will allow it to take ANZ Vietnam's Retail business to the next level for our customers.

Shinhan Bank Vietnam has the most branches of any foreign bank in Vietnam, when it finalises the transaction with ANZ its plan is to have 30 branches and transaction offices, as well as 184 ATMs in Hanoi and HCMC.

4. How will this impact my banking with ANZ?

This has no immediate impact on you or the way we do business together. Nothing about your relationship with ANZ will change in the near future; you'll get the same retail services.

Rest assured that we will keep you informed, and we will be in touch to let you know what will be happening and if anything needs to change.

5. When can I expect the transition to Shinhan Bank Vietnam to take place?

Our priority is to avoid any disruption to your current banking services and help facilitate a smooth transition. We anticipate that this process will be complete by the end of the 2017.

6. Do I need to do anything to move my bank account to Shinhan Bank Vietnam?

Yes, for your deposit accounts and debit cards to be transferred to Shinhan, you will need to sign a Transfer Consent Form and send back to us. For your loans and credit cards, you don't need to do anything as they will be transferred to Shinhan automatically. ANZ and Shinhan are working closely together to ensure a smooth transition for you, and we will continue to keep you updated throughout the transfer process.

By now, if you have at least one account with us, you should have received a letter from us with Terms of Transfer and the Transfer Consent Form . Or if you only have credit cards with us, you should have received a letter or an email with the Terms of Transfer . If you haven't received any letter yet, you may need to update your contact details with us by calling our 24-hour Personal Banking hotline at 1900 1276 or+84 28 3881 5977 (if overseas). You can also contact your Relationship Manager / Relationship Officer for assistance.

7. How will my accounts be transferred to Shinhan?

Your ANZ accounts will be mapped to corresponding products at Shinhan. You will be given more information on your new accounts with Shinhan, including the terms and conditions, closer to the date of transfer.

8. If I am already a Shinhan customer, what will happen to my ANZ accounts?

All ANZ customers will have new accounts set up at Shinhan with the same account numbers as at ANZ. Any accounts you already hold with Shinhan prior to the transition will not be affected as a result of this change.

9. What will happen to my existing ANZ loan, credit card, loyalty program points etc.?

There will be no immediate changes to your banking relationship with us, your existing terms and conditions, repayments, interest rates, fees charges as well as benefits will continue to apply until further notice.

10. What happens if I'm waiting for an application to be approved, or I'm in the process of renewing a product (i.e. term deposit)?

There are no immediate changes to our product and service offering, all your new applications will be progressed according to existing terms and conditions.

You can continue banking normally with ANZ and enjoy expert retail management solutions together with exceptional and personalised service.

We'll be in touch if there are any changes to your banking in the long term.

11. What will happen to deposit insurance for my deposits in ANZ that are being transferred to Shinhan?

Your deposits being transferred to Shinhan will still be insured as per the current regulation on deposit insurance.

12. Do I need to pay off my loans or outstanding balances prior to transfer to Shinhan?

You do not need to close off any loans or outstanding balances as part of this transfer process.

Any outstanding balances on your existing loans or credit facilities with ANZ will be transferred to Shinhan. In the meantime, you should continue to make your loan, credit card or other payments to ANZ as usual. After the transfer to Shinhan is completed, you will make your payments to Shinhan.

13. I currently have a Relationship Manager / Relationship Officer at ANZ, who will manage my accounts in Shinhan after the transfer?

Your ANZ Relationship Manager will continue to manage your accounts before the transition. We look forward to maintaining the same Relationship Manager's service for your banking needs after the transfer. Details of this will be notified to you later.

14. As an ANZ customer can I now access Shinhan Bank Vietnam products and services?

For the time being nothing will change, you will still continue to be able to use ANZ branches, ATMs, products and services.

It's important to note until ANZ has finalised the sale of its Retail business to Shinhan Bank Vietnam, you will not have access to any Shinhan Bank Vietnam products or services beyond any pre-existing arrangements.

15. What if I do not want to move my banking to Shinhan Bank Vietnam?

ANZ will not carry on a Retail banking business in Vietnam after the transfer. To ensure you continue to receive a world class banking service we will be encouraging our customers to transfer from ANZ to Shinhan Bank Vietnam as part of the transaction.

However, if you do not wish to be transferred, you need to make alternative banking arrangements, including closing your existing accounts, ending your existing banking services and settling any outstanding loans and other obligations (including fees and charges) by no later than the transfer completion date. Any of your Accounts, Credit Cards or Debit Cards remaining with ANZ after the may be inactivated.

16. If I'm an Institutional customer, what does this mean for me?

This sale in no way impacts our Institutional business in Vietnam. We see no likely disruption to its services.

For more questions on your Banking Products and Services and/or on the transfer please contact your Relationship Manager / Relationship Officer at ANZ or our Contact Center at 1900 1276

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