<article>Vietnam International Bank (VIB) is looking at the possibility of purchasing <a style="color: #000080" href="http://www.dealstreetasia.com/tag/anz/">ANZ</a>&#8216;s retail ops in Vietnam, according to people familiar with the matter.</article>

Vietnam International Bank (VIB) is looking at the possibility of purchasing <a style="color: #000080" href="http://www.dealstreetasia.com/tag/anz/">ANZ</a>&#8216;s retail ops in Vietnam, according to people familiar with the matter.
Local Vietnamese media had earlier reported that five local and foreign lenders had expressed interest in acquiring the Melbourne-based bank&#8217;s retail business in the Southeast Asian country. Sources in the financial industry told this portal that VIB was one of those banks.
ANZ declined to comment, while an email inquiry sent to VIB did not elicit responses.
ANZ completed the sale of retail banking and wealth management units in Hong Kong, Singapore, China, Taiwan and Indonesia to <a style="color: #000080" href="http://www.dealstreetasia.com/tag/dbs/">DBS</a> in 2016 for $80 million.
Initially, it had been reported that ANZ was not looking to exit the retail market in Vietnam as the country ranked amongst the fastest growing in the region. Besides, Vietnam was also a market where ANZ had been committing significant resources to expand its offerings.  Yet recent reports had quoted the bank&#8217;s chief executive Shayne Elliott as stating that the group was also looking to exit businesses in the Philippines, Cambodia, Laos and Vietnam &#8211; the countries that were not part of the DBS Group transaction. These reports also added that following its exit from retail operations in these markets, ANZ would focus on capital markets, the bond markets, cash-flow management, corporate and investment banking, among others.
While ANZ had charted out a retail strategy as a significant source for expansion in Southeast Asia, driven by the region&#8217;s growth story in terms of spending power and the surge in SMEs, it has been left bruised in competing with local players. For instance, Vietnam, a legion of smaller local lenders &#8211; such as BIDV, VPBank, Techcombank and Vietinbank &#8211; have made massive strides in the retail banking business.
VIB, the fastest growing retail banker in Vietnam, a title it bagged from the Global Banking and Finance Review, and it has moved forward in providing new services, while its online banking operation called MyVIB had won &#8220;Best retail mobile banking experience 2016&#8221; by the Asset Triple A Digital Awards.
The app is a partnership between VIB and its strategic investor, Australia&#8217;s Commonweath Bank, which holds a 20 per cent equity.
&#8220;As part of the bank&#8217;s transformation, VIB expects to retain its organic growth which has been above industry&#8217;s average, as well as to achieve new growth through acquisitions of business operations from other financial institutions,&#8221; the lender said in a document posted on its website.
It further said that it would set aside up to 30 per cent of paid-in capital for M&amp;A activity.
VIB has also planned a 35 per cent increase in deposit growth to VND80 trillion ($3.5 billion) in 2017, and is targeting a 7 per cent rise in gross profit to VND750 billion by the end of this year.
Among five reportedly interested banks for ANZ&#8217;s retail business exit in Vietnam, two were said to be foreign institutions.
Seven international banks have set up footprints in Vietnam, including Woori Bank, Public Bank Berhad, ANZ, Standard Chartered, Shinhan Bank, Hong Leong and HSBC. Last month, United Overseas Bank said it would establish its wholly owned subsidiary in the country.
With regards to retail banking, Standard Chartered is seen as the most aggressive foreign player in Vietnam, having started this kind of service since 2007.  Last year, local media had quoted Standard Chartered Vietnam&#8217;s head of HR Tran Minh Huong as stating that the bank was seeking to ramp up its head count in the retail division.
Standard Chartered Vietnam did not comment when asked if it was looking at buying ANZ&#8217;s offer.
Also read:
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/anz-to-sell-retail-unit-in-vietnam-following-regional-exit-to-dbs-report-67953/">ANZ to sell retail unit in Vietnam following regional exit to DBS: Report</a>
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/vietnams-prime-minister-to-raise-foreign-investor-caps-on-banks-62887/">Vietnamese PM to raise foreign-investor caps on banks</a>

Vietnam International Bank (VIB) is looking at the possibility of purchasing ANZ's retail ops in Vietnam, according to people familiar with the matter.

VIB interested in buying ANZ's retail operations in Vietnam

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VIB interested in buying ANZ's retail operations in Vietnam

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