In the finance news today both ANZ and CBA are reportedly expanding operations into Asia.
ANZ Bank is on the verge of taking on a $4.3 billion controlling stake in Korea Exchange Bank – a key to what ANZ’s chief executive describes as the company’s plan to be among the top pan-Asian banking players, right up there with HSBC and Standard Chartered.
Meanwhile, over at CommBank, a 15% stake in Viet Nam International Bank has been agreed on, with that amount to rise to 20% in the future. CBA believes Vietnam will see a significant increase in the demand for financial services in the coming years.
ANZ Bank
ASX : ANZ
Commonwealth Bank
ASX : CBA
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