ANZ targets tenfold surge in opulent clients in Vietnam

The lender to tap more than 10,000 high-end professionals, or entrepreneurs who have built up their business in Vietnam.

Australia & New Zealand Banking Group Ltd., which aims to get 30 percent of its revenue from the Asia-Pacific area by 2017, plans to increase its number of wealthy clients in Vietnam to 10,000 from 1,000 in three years.

The Melbourne-based Bank plans in the next two to three months to double the number of staff catering to individuals with a minimum investment threshold of $50,000, Tareq Muhmood, the bank’s chief executive officer for the southeast Asian country, said in an interview in Hanoi Monday. ANZ’s service for high-net-worth individuals in the country has attracted 1,000 customers since its launch twelve months ago, he said.

“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,” he said, according to a report in Business Week.

The bank also plans to offer structured notes, or securities created to offer customized bets for investors, to wealthy clients, Muhmood said.

Follow the link for more news on

Also Read

Why Singapore banks are a ‘safe haven’ from US market volatility

MUFG employee steals up to $12.9m from safe deposit boxes

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit