More capital for ANZ in Vietnam
ANZ secured permission to double the capital of its subsidiary in Vietnam to two trillion dong (or around US$112 million), Vietnam's central bank said on Friday.ANZ won a licence to open its fully owned bank in Vietnam last October.In a presentation last year ANZ's local manager, Thuy Dam, said ANZ wanted to be a top four retail bank with a market share of between 10 per cent and 20 per cent in target segments.Only 10 per cent of people in Vietnam have bank accounts, though this percentage is 35 per cent in urban areas.