ASEAN Today briefs – ANZ Bank (Vietnam) to sell its retail banking businesses

Betty Ho, analyst

The US FED will lift the target range’s benchmark interest rate to between 75 basis points and 100 basis points for the first time in 2017.

China’s central bank raised interest rates in open-market operations and on its medium-term lending facility.

  • 7 day rate reverse-repurchase agreements – 2.45%
  • 14 day rate reverse-repurchase agreements – 2.6%
  • 28% reverse-repurchase agreements – 2.75%

ANZ Bank (Vietnam) will sell its retail banking businesses. This is part of ANZ Group’s strategy to to exit four Asian markets, including Vietnam. Three foreign banks and two local banks have expressed interests.

The SGX (Singapore Exchange Ltd) announced plans to acquire UK based Baltic Exchange. This was a move to attract UK managers and traders to SGX’s commodities indices.

CIMB Thai Bank PCL is looking to expand customer base for wealth and customer asset under management in 2017. The bank would like to ride on the wealth of rich Thai residents.

Philippine National Bank reported a 14% increase in consolidated net income for full-year 2016, driven by steady growth of its core businesses.

Wirecard AG will acquire customer portfolio of Citigroup Inc.’s merchant acquiring business in 11 markets (Singapore, Hong Kong, Macau, Malaysia, Taiwan, Indonesia, Philippines, Thailand, India, Australia and New Zealand) in the Asia-Pacific region. The deal involving more than 20,000 merchants will close by June 2018.