United Overseas Bank (UOB) continues to deepen its presence in Vietnam with the opening of its Hanoi branch on Thursday (Aug 22) – the bank’s first beyond Ho Chi Minh City.
The expansion comes a year after the incorporation of UOB’s fully-owned subsidiary in Vietnam, reflecting the bank’s commitment to providing its financial services and solutions to more customers across the country, said UOB in a statement. The Straits Times reports.
The Hanoi branch was opened by UOB chief executive officer Wee Ee Cheong and Catherine Wong, Singapore’s Ambassador to Vietnam, on Thursday.
“Our new branch reflects our continued confidence in the country as we seek to serve more customers in both the northern and southern parts of Vietnam. It will enable us to connect customers to the opportunities that Vietnam offers and to support Vietnamese companies in seizing opportunities across Asean and further afield,” said Mr Wee.
According to Straits Times, UOB was the first Singapore bank to establish a branch in Vietnam back in 1995, operating under a branch licence before the incorporation of UOB Vietnam in August last year.
Said Ms Wong: “The bank has supported many companies in their expansion into Vietnam, providing connectivity and facilitating investment flows into the country. UOB’s expansion in Vietnam also represents our evolving bilateral ties, as Singapore partners with Vietnam in its next phase of growth.”