15:24 (GMT +7) - Wednesday 25/11/2020

Banking & Finance

ANZ receives highest possible Foreign Currency rating from Fitch

Released at: 09:40, 01/01/2020

ANZ receives highest possible Foreign Currency rating from Fitch

Photo: Viet Tuan

Foreign Currency rating of "BB" capped at Vietnam's sovereign rating of "BB".

by Doanh Doanh

ANZ Bank (Vietnam) Limited (ANZVL) has announced that it has received the highest possible Foreign Currency rating outcome of “BB” from Fitch and a “BBB-” Local Currency rating.

Ms. Jodi West, Country Head Vietnam, said the Foreign Currency rating is capped at Vietnam’s sovereign rating of BB.

“Vietnam is an important part of ANZ’s international network and today’s positive rating outcome is a strong affirmation of our well-established business in the country,” she said. “We look forward to continuing to serve our Institutional customers in Vietnam and supporting their trade and capital requirements.”

ANZVL operates in Vietnam as a locally-incorporated subsidiary of the Australia and New Zealand Banking Group Limited (ANZ). Fitch Ratings is a leading provider of credit ratings, commentary, and research.

ANZ was one of the first foreign banks to open and has been in Vietnam since 1993. In 2008, it was granted a banking license by the State Bank of Vietnam to locally incorporate in the country. it has a presence in Vietnam’s two major cities of Hanoi and Ho Chi Minh City.

Today, ANZ Vietnam offers a full range of banking services to Large Corporates (covering Multinational corporates, Large local corporates, and Australia / New Zealand Home market clients), Financial Institutions, and the Public Sector. Its award-winning FX, Trade, and Cash Management Platforms make operating in multiple countries easier and more efficient for our clients.

As a hub for the Greater Mekong Region, which includes Vietnam, Thailand, Myanmar, and Laos, ANZ Vietnam plays a pivotal role in the bank’s wider strategy, connecting customers with each other and with markets across the region.

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