ANZ wins full banking license
ANZ eventually wins the full banking license in Thailand, exactly 30 years after it made presence felt in the Kingdom.
It opened the representative office in Bangkok in 1985, being the first among banks from Australia.
In a statement, ANZ said the Finance Ministry's full banking license was a further milestone in its super regional strategy. ANZ Thai will be an important addition to ANZ’s Asia network and its activities in the Greater Mekong region that already includes operations in Vietnam, Cambodia, Myanmar and Laos.
ANZ CEO International and Institutional Banking Andrew Géczy said: “This is an important milestone for our super regional strategy and means we can now better connect our multi-national customers to the growing trade and investment flows across Asia with the Greater Mekong.
“Thailand already accounts for almost 65 per cent of Greater Mekong’s GDP and its trade with Asean countries totals around $US97 billion. Along with Thailand’s position as a key manufacturing hub for the region, these growing connections to its Asean neighbours and our home markets of Australia and New Zealand makes it an important market for our super regional franchise.”
Panadda Manoleehakul, former CEO of the bank's operations in the Philippines, has been appointed CEO of ANZ Thai. Prior to joining ANZ in 2008, she held senior banking roles across Asia with HSBC, JP Morgan Chase, Chase Manhattan Bank and Standard Chartered Bank.
