Vietnam has excellent prospects fordeveloping its consumer credit market, said the General Director of theStandard Chartered Bank (SCB) in Vietnam, Ashok Sud.
In his talks with the Thoi Bao Ngan Hang (Banking Times) following SCBVietnam’s official debut in late August, Sud noted that the consumercredit market accounts for only between 5-7 percent of the country’stotal compared to the 30-40 percent rate in other countries.
The bank also sees good opportunities in the wholesale credit becauseVietnam is in need of major infrastructure projects and foreigninvestment. SCB Vietnam is confident that it can provide products thatbring the most benefit to its customers be they are based in China andother Southeast Asian Nations (ASEAN) or anywhere, he added.
SCB Vietnam not only facilitates direct foreign investment capitalflows but also connects businesses in Vietnam with trading partners inother countries, said Sud.
The bank offers package products in most fields, ranging from cashmanagement to commercial sponsorships and also issues bonds.
SCB Vietnam Ltd, the third of five banks licensed to set up whollyforeign-owned banks in Vietnam, officially began operating on Aug. 28,2009, although it received its licence almost a year ago.
According to Sud, most of the market share still belongs to local banksdespite the presence of some 40 foreign banks, which account for lessthan 10 percent of the market and this figure will remain stable overthe next 10-15 years./.
In his talks with the Thoi Bao Ngan Hang (Banking Times) following SCBVietnam’s official debut in late August, Sud noted that the consumercredit market accounts for only between 5-7 percent of the country’stotal compared to the 30-40 percent rate in other countries.
The bank also sees good opportunities in the wholesale credit becauseVietnam is in need of major infrastructure projects and foreigninvestment. SCB Vietnam is confident that it can provide products thatbring the most benefit to its customers be they are based in China andother Southeast Asian Nations (ASEAN) or anywhere, he added.
SCB Vietnam not only facilitates direct foreign investment capitalflows but also connects businesses in Vietnam with trading partners inother countries, said Sud.
The bank offers package products in most fields, ranging from cashmanagement to commercial sponsorships and also issues bonds.
SCB Vietnam Ltd, the third of five banks licensed to set up whollyforeign-owned banks in Vietnam, officially began operating on Aug. 28,2009, although it received its licence almost a year ago.
According to Sud, most of the market share still belongs to local banksdespite the presence of some 40 foreign banks, which account for lessthan 10 percent of the market and this figure will remain stable overthe next 10-15 years./.
