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Vietnam Retail

Tiếng Việt

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Important update for customers:

  • The transfer completion date will take effect on Monday, 18 December 2017 (the "Transfer") subject to the successful migration between ANZ and Shinhan Bank Vietnam ("Shinhan") and necessary regulatory approvals. Should there be any changes to the date and time of the Transfer, we shall notify you separately.
  • We have sent a final notification letter to all of our Retail customers in November 2017 to provide an update about the Transfer and details of the Transfer process. If you have not received this letter, please contact your Relationship Manager / Relationship Officer at ANZ or our Contact Center at 1900 1276.
  • If you are an ANZ Retail customer, please sign and return the Transfer Consent Form to ANZ by 1 December 2017, and carefully read the Terms of Transfer. We have extended the cut-off date for the convenience of customers, to provide you with more time to complete the request.

Background:

  • In April 2017 ANZ entered into 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.
  • 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

Frequently Asked Questions:

  1. How will the Transfer impact service availability?
  2. Refer to the following table:


    Please consider making early cash withdrawals, payments and transfers prior to the Transfer, and also take note of the following:

    1. Shinhan Banking Services:
      1. You can enjoy access to Shinhan branches from Monday, 18 December 2017.
      2. Please refer to Shinhan's microsite http://www.shbvn.com.vn/personal/anz-welcome for more information.
      3. Please note that your ANZ fax and email instructions will not be continued at Shinhan.

    2. Payments and transfers: All your existing direct debit authorisation and standing order instructions will continue with Shinhan and no customer action is required unless you inform us otherwise immediately or Shinhan will make separate arrangement with you subsequently.

    3. Upon Completion of the Transfer: You will receive a welcome email from Shinhan with contact details within; and the terms and conditions of all of your Banking Products and Services that will transfer to Shinhan will remain unchanged.

  1. Why has ANZ sold its Retail business in Vietnam?
  2. ANZ has looked carefully at our Retail and Wealth 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 and Wealth 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 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.

    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.

  3. Are any other parts of the ANZ Vietnam business involved in the sale?
  4. No. Only the Retail business has been sold to Shinhan.

  5. I'm an ANZ customer, why would I want to bank with Shinhan?
  6. By 2020 Shinhan aims to be the market leading retail bank in both Hanoi and HCMC, and the number one digital bank in Vietnam.

    Its 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 has the most branches of any foreign bank in Vietnam. When the Transfer is completed, Shinhan's plan is to have 30 branches and transaction offices, as well as 184 ATMs in Hanoi and HCMC.

  7. How will this impact my banking with ANZ?
  8. This has no immediate impact on you or the way we do business together. Nothing about your relationship with ANZ will change prior to the Transfer; you'll get the same retail services.

    In November 2017 we sent a final notification letter to all of our Retail customers to provide an update about the Transfer and details of the Transfer process.

    For consenting customers, from the Transfer completion date you will become a customer of Shinhan. All of your Banking Products and Services that are in place, or outstanding, with ANZ on the Transfer Completion Date, including Accounts, Debit Cards, Credit Cards, Loans ("Banking Products and Services"), will be transferred to Shinhan in accordance with the Terms of Transfer set out herein unless you choose to terminate some of them where permitted or you have not signed the Transfer Consent Form in relation to your Account(s) or Debit Card(s).

  9. Do I need to do anything to move my bank account to Shinhan?
  10. If you are an ANZ Retail customer, for your deposit accounts and debit cards to be transferred to Shinhan, please sign and return the Transfer Consent Form to ANZ, and carefully read the Terms of Transfer. Please submit your consent to transfer by 1 December 2017.

    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.

  11. What can I expect from Shinhan upon completion of the Transfer?
  12. Your ANZ accounts will be mapped to corresponding products at Shinhan.

    Upon the completion of the Transfer, you will receive a Shinhan welcome letter with contact details.

    The terms and conditions of all of your Banking Products and Services that will transfer to Shinhan will remain unchanged.

  13. If I am already a Shinhan customer, what will happen to my ANZ accounts?
  14. 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.

  15. What will happen to my existing ANZ loan, credit card, loyalty program points etc.?
  16. 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 the Transfer.

    These arrangements will remain the same upon the Transfer completion, unless you are otherwise advised by Shinhan.

  17. 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)?
  18. 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.

  19. What will happen to deposit insurance for my deposits in ANZ that are being transferred to Shinhan?
  20. Your deposits being transferred to Shinhan will still be insured as per the current regulation on deposit insurance.

  21. Do I need to pay off my loans or outstanding balances prior to the transfer to Shinhan?
  22. 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 is completed, you will make your payments to Shinhan.

  23. I currently have a Relationship Manager / Relationship Officer at ANZ, who will manage my accounts in Shinhan after the Transfer?
  24. Your ANZ Relationship Manager will continue to manage your accounts before the Transfer. Many of you can expect to have the same Relationship Manager after the Transfer.

    Upon the completion of the Transfer, you will receive a Shinhan welcome letter with contact details.

  25. As an ANZ customer can I access Shinhan products and services now?
  26. Until the Transfer is completed, you will not have access to any Shinhan products or services beyond any pre-existing arrangements.

    Until the Transfer date, you will still continue to be able to use ANZ branches, ATMs, products and services.

  27. What if I do not want to move my banking to Shinhan?
  28. 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 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.

  29. If I'm an Institutional customer, what does this mean for me?
  30. This sale in no way impacts our Institutional business in Vietnam.

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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