YKVN Advises On Record Acquisition of ANZ Bank’s Vietnam Retail Business

YKVN advised Shinhan Bank Vietnam Limited (SHBVN) in the bid for and negotiation of the definitive agreements to purchase the retail business of ANZ Bank (Vietnam) Limited (ANZ).  SHBVN is an affiliate of Korea’s Shinhan Financial Group, one of the largest financial conglomerates in Asia.  Following due diligence and submission of asset purchase agreement markup, SHBVN was one of the three bidders shortlisted by ANZ and ultimately chosen as preferred bidder following a round of clarifications.  ANZ’s retail business in Vietnam consisted of 125,000 customers, US$240.9 million in lending assets (including credit card loans, personal loans, and mortgage loans), US$605 million in deposits, two branches and six transaction offices as well as a substantial number of customers.  This was the largest banking asset sale in Vietnamese history.