The Australia and New Zealand Banking Group Limited (ANZ) has been awarded a Thailand banking license, boosting its presence in the Greater Mekong region.
ANZ, in a press statement, said the granting of the license by Thailand’s Ministry of Finance marked a further milestone in its “super-regional strategy” with the regulatory approval.
ANZ Thai, it said, opened this week to support the growing trade and investment flows to and from Thailand.
Located in the Bangkok’s finance district, 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, the statement noted.
ANZ’s Chief Executive Officer of International and Institutional Banking, Andrew Géczy, said: “This is an important milestone and means we can now better connect our multinational customers to the growing trade and investment flows across Asia with the Greater Mekong.
“Thailand already accounts for almost 65 percent of Greater Mekong’s GDP and its trade with ASEAN countries totals around US$97 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 has been appointed to the position of Chief Executive Officer of ANZ Thai. Panadda has more than 25 years corporate and institutional banking experience and previously held the same position for ANZ Philippines.
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.
“Panadda built a strong, growing franchise for ANZ in The Philippines and has been instrumental in the process to gain our banking license in Thailand. I’m pleased ANZ will continue to benefit from her experience and leadership as she continues to drive our expansion into Thailand,” added Géczy.
