ANZ sells part in ANZ Royal Bank, Cambodia

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
CEOCambodiaNews
Expatriate
Posts: 11802
Joined: Sun Oct 12, 2014 5:13 am
Karma: 288
Location: CEO Newsroom
Cambodia

ANZ sells part in ANZ Royal Bank, Cambodia

Post by CEOCambodiaNews » Fri May 18, 2018 4:35 pm

ANZ Group pulls out of Cambodian joint venture
May 18, 2018
ANZ Group will sell its stake in ANZ Royal Bank to Japan-based JTrust, who will acquire 55 percent of shares in the Cambodian joint venture.

The decision to sell its investment in the Cambodian bank follows ANZ Group’s desire to exit minority investments and partnerships to focus on building its institutional presence in Asia.

“We remain committed to our institutional presence in Asia. Our regional network is an important differentiator for ANZ and key to our ambition to be the best bank to support companies with trade and capital flows throughout the region,” Farhan Faruqui, an ANZ Group executive, said.
https://www.khmertimeskh.com/50491053/a ... t-venture/
Cambodia Expats Online News: Bringing you breaking news from Cambodia before you read it anywhere else.

Looking for the best deals on hotels in these cities?

Book through Agoda:

Phnom Penh
Siem Reap
Sihanoukville
Kampot
Koh Rong
willyhilly
Expatriate
Posts: 1073
Joined: Sun Jan 17, 2016 7:11 am
Karma: 107
Location: Australia
Albania

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by willyhilly » Fri May 18, 2018 4:48 pm

The ANZ foray in SEAsia has been a disaster. Hundreds of millions lost.When one looks at the quality of management in the ANZ in Cambodia over the last ten years one can see why.
Scandal after scandal was covered up as service standards nosedived. I remember the old American guy who had a huge sum in his term deposit stolen by a senior Khmer employee of the bank.
He was actually thrown out of the CEOs office when he demanded his money. Eventually he was reimbursed and it turned out the embezzler was related to the married CEOs Khmer squeeze.You couldn’t make this shit up.
User avatar
that genius
Expatriate
Posts: 2433
Joined: Wed Dec 06, 2017 7:53 am
Karma: 549
Sweden

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by that genius » Fri May 18, 2018 5:50 pm

Good riddance, scumbags
When I heard they had found a cure for dyslexia, it was music to my arse!
User avatar
timmydownawell
Expatriate
Posts: 1451
Joined: Tue Mar 22, 2016 12:50 pm
Karma: 213
Location: Phnom Penh
Cambodia

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by timmydownawell » Fri May 18, 2018 8:16 pm

Cambodia wins from this. Australian banks are all thieving arseholes.
No matter how much it rains, the dirt never washes away.
Anchor Moy
Expatriate
Posts: 7248
Joined: Wed May 28, 2014 11:37 pm
Karma: 430
Tokelau

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by Anchor Moy » Fri May 18, 2018 8:27 pm

I'm guessing they will change the name of the bank if ANZ is no longer involved ?
Royal Bank ? Royal JT Bank ? RJT Bank ? JTR Bank ?
Any suggestions ?
violet
Expatriate
Posts: 195
Joined: Fri May 23, 2014 3:48 pm
Karma: 34

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by violet » Fri May 18, 2018 8:42 pm

Anchor Moy wrote:
Fri May 18, 2018 8:27 pm
I'm guessing they will change the name of the bank if ANZ is no longer involved ?
Royal Bank ? Royal JT Bank ? RJT Bank ? JTR Bank ?
Any suggestions ?
Assuming the Royal isn't a hangover from an earlier M&A, I would vote Royal JT Bank being the winner. Not necessarily my choice, but what I think it will be named.
User avatar
epidemiks
Expatriate
Posts: 994
Joined: Fri Mar 20, 2015 6:56 pm
Karma: 176
Australia

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by epidemiks » Fri May 18, 2018 9:23 pm


violet wrote:
Anchor Moy wrote:
Fri May 18, 2018 8:27 pm
I'm guessing they will change the name of the bank if ANZ is no longer involved ?
Royal Bank ? Royal JT Bank ? RJT Bank ? JTR Bank ?
Any suggestions ?
Assuming the Royal isn't a hangover from an earlier M&A, I would vote Royal JT Bank being the winner. Not necessarily my choice, but what I think it will be named.


Royal = Royal Group.

They have a couple of things in the go such as BMW Cambodia, Cellcard, ANZ Royal Bank, The Royal Sands Koh Rong, Giant Ibis Transport, Wing Cambodia, CTN TV, Royal Cambodian Limousine, Royal Railway CO., LTD, Helicopters Cambodia, EZECOM, Cambodian Life Insurance Company PLC, Cellcard Finance, Infinity General Insurance PLC, Hotel Cambodiana, Kampuchea Food Corporation CO., LTD, Northbirdge Communities CO., LTD, North Park Condominium, Southbridge International School Cambodia, Yong Sheng Global Trading, Northbridge Development CO., LTD, Global Security Solutions, Rock Entertainment Centre, TITAN KING CASINO.CORP, Royal Financial Corporation Co., Ltd.

Royal's not a mandatory naming convention for them though, it would seem.


violet
Expatriate
Posts: 195
Joined: Fri May 23, 2014 3:48 pm
Karma: 34

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by violet » Fri May 18, 2018 9:33 pm

epidemiks wrote:
Fri May 18, 2018 9:23 pm
violet wrote:
Anchor Moy wrote:
Fri May 18, 2018 8:27 pm
I'm guessing they will change the name of the bank if ANZ is no longer involved ?
Royal Bank ? Royal JT Bank ? RJT Bank ? JTR Bank ?
Any suggestions ?
Assuming the Royal isn't a hangover from an earlier M&A, I would vote Royal JT Bank being the winner. Not necessarily my choice, but what I think it will be named.


Royal = Royal Group.

They have a couple of things in the go such as BMW Cambodia, Cellcard, ANZ Royal Bank, The Royal Sands Koh Rong, Giant Ibis Transport, Wing Cambodia, CTN TV, Royal Cambodian Limousine, Royal Railway CO., LTD, Helicopters Cambodia, EZECOM, Cambodian Life Insurance Company PLC, Cellcard Finance, Infinity General Insurance PLC, Hotel Cambodiana, Kampuchea Food Corporation CO., LTD, Northbirdge Communities CO., LTD, North Park Condominium, Southbridge International School Cambodia, Yong Sheng Global Trading, Northbridge Development CO., LTD, Global Security Solutions, Rock Entertainment Centre, TITAN KING CASINO.CORP, Royal Financial Corporation Co., Ltd.

Royal's not a mandatory naming convention for them though, it would seem.
Ah. That lot. I hadn't realised, obviously.
Northridge Communities/Development.. connected to the school?
finbar
Expatriate
Posts: 109
Joined: Mon Jan 29, 2018 10:42 am
Karma: 22
New Caledonia

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by finbar » Fri May 18, 2018 10:27 pm

that genious wrote:Good riddance, scumbags
Indeed, the Cambodian "Royal" side of the venture was/is entirely honest and above-board.
JTrust also sounds completely trustworthy to me, so this could be Cambodia's first bank without a laundry.
-
Per ardua, ad stercus
User avatar
that genius
Expatriate
Posts: 2433
Joined: Wed Dec 06, 2017 7:53 am
Karma: 549
Sweden

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by that genius » Fri May 18, 2018 10:55 pm

If memory serves me correctly, a senior manager tried to play down the Garage invasion and persuaded KiR et al not to press charges
When I heard they had found a cure for dyslexia, it was music to my arse!
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 15 guests