Malaysias finance group to expand in Vietnam

Wednesday, April 02, 2008; Posted: 01:33 AM

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Apr 01, 2008 (Asia Pulse Data Source via COMTEX) -- AMMHF | news | PowerRating | PR Charts -- Malaysias AMMB Holdings Bhd plans more banking operations in Vietnam in the next 12 and 18 months, a senior official from the group has said.

According to the group director of corporate services, Ms. Amarjeet Kaur, AMMB Holdings Bhd is seeking to expand to Vietnam through investment banking operations, which she said complements the presence of its strategic shareholder ANZ Bank.

The group would explore the market in Vietnam, she said, adding that a lot of Malaysias banks and corporates are looking at Vietnam.

AMMB Holdings Berhad, Malaysia's fifth largest finance service group, operates in banking, fund management and insurance. The group has already provided its services in Singapore and Jakarta, Indonesia.

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