Bank picks up Asiamoney award for second consecutive year.
Leveraging the strength of Standard Chartered’s broad international network and in-depth local knowledge, the bank continues to contribute to Vietnam’s economic development. It works with the government, regulators, investors, businesses, and employees to support economic growth by attracting FDI, supporting Vietnam’s participation in global and regional trade and supply chains, and supporting Vietnamese people achieve their aspirations and connect with the world.
The Vietnam franchise provides world-class banking services across a broad range of segments including multi-national corporations, financial institutions and institutional clients, small and medium-sized enterprises, local corporates, and retail clients.
The bank’s corporate business focuses on delivering value to clients, driving commerce and prosperity in Vietnam and around the world. It does this by supporting foreign investment into Vietnam, as well as supporting Vietnamese companies participating in global supply chains and bringing the best of the world to Vietnam and “Made in Vietnam” products to the world.
All of this is enabled by Straight2Bank, Standard Chartered’s award-winning digital platform for corporate banking, to which the bank is constantly adding additional features to better support its clients.
Most recently, the bank launched S2B Pay, a module that allows clients frictionless access to the benefits of e-commerce and mobile payments. It also continues to support the development of local capital markets, acting as the placement agent for numerous VND-denominated guaranteed bond issuances for Vietnamese enterprises.
The bank also has a thriving Retail Banking business, focused on supporting the increasingly global aspirations of the Vietnamese people. It brings together world-class banking products and an innovative, digitally-led business model, to deliver an award-winning proposition to meet the needs of Vietnam’s affluent and emerging affluent. Among others, the bank has recently been awarded “Best Foreign Retail Bank in Vietnam 2019” by International Business magazine, the “Most Innovative Retail Bank in Vietnam 2018” by Global Business Outlook, and “Best Consumer Digital Bank Vietnam 2018” by Global Finance magazine.
Standard Chartered has invested significantly in Vietnam over the last few years and grown its business from strength to strength. In August, it completed a Tier-2 capital injection of $100 million in its Vietnam operations. The move, which further enlarges the local franchise’s capital base, comes on the back of a Tier-1 capital increase of around $49 million in 2018.
The additional capital supports the continued growth of the bank’s Vietnam business and allows it to continue to bring the last technology to delight its customers in the country. The bank has also focused on investing in human capital to enable business expansion and is accelerating talent recruitment for all segments.
Standard Chartered Bank Vietnam was recently named “One of the Best Companies to Work for in Asia” for a second year in a row by HR Asia, which reaffirms the bank as the employer of choice in the market.
Vietnam currently houses nine foreign-owned banks, about 50 foreign bank branches, more than 50 representative offices of foreign credit institutions and many foreign-owned finance companies.
The central bank has set the 2019 credit growth target at about 14 percent, down from the 17-percent target set for last year.
By Hung Cao @ VNEconomictimes