Print this article

ANZ Bank To Increase Wealthy Vietnamese Clients Tenfold

Rajdeep Sandhu

18 October 2011

Australia & New Zealand Banking Group wants to increase its wealthy Vietnamese client pool by a factor of ten in the next three years, according to media reports. 

Since its launch a year ago ANZ has attracted 1,000 high net worth individuals in its Vietnamese business. The bank is aiming to grow that figure to 10,000 by 2015,  Tareq Muhmood, chief executive office for Vietnam told Bloomberg in an interview. 

The number of staff at the division is also set to double in the next few months to cater to individuals with a minimum investment threshold of $50,000.

“You’re looking at high-end professionals, or entrepreneurs who have built up their business, and you clearly have more than 10,000 in Vietnam,” Muhmood told the newswire.

Within the next five years ANZ aims to receive 30 per cent of its revenue from Asia-Pacific.