ANZ to sell shareholding in Saigon Securities Inc
ANZ today announced it has agreed to sell its 17.5% shareholding in Vietnam’s Saigon Securities Incorporation (SSI) to SSI Chairman, Mr Hung Duy Nguyen and a group of Vietnamese investors.
While SSI remains a leading securities firm in Vietnam and the partnership has benefited both parties, the sale is consistent with the Group’s super regional strategy which emphasises the growth of ANZ-owned businesses and its commitment to improving returns in Asia.
ANZ continues to have a strong and growing presence in Vietnam where it is a leading international bank providing a full range of banking services to its institutional, commercial and retail customers supported by 750 staff working in branches in Hanoi and Ho Chi Minh City as well as representative offices in Binh Duong and Can Tho.
The transaction is not material to ANZ and terms of the sale are confidential. ANZ’s investment in SSI was made in September 2007.