Finance & BankingLast updated: Friday, April 20, 2018
Vietnam - Strategic Part of Standard Chartered Bank’s ASEAN NetworkPosted: Thursday, February 08, 2018![]()
“We would highly recommend the Government and SBV to continue to focus on improving Conduct and Transparency in the Public and Banking sectors as well as on enhancement of Anti-Money Laundering standards,” suggested Mr Nirukt Sapru, CEO Vietnam and ASEAN & South Asia Cluster Markets, Standard Chartered Bank when asked about Vietnam’s recent efforts to improve its banking industry. Le Hien reports. What is your assessment of Vietnam’s macro-economic conditions and its support for the country’s growth? Vietnam enters 2018 with strong momentum and we are confident that it will remain one of the fastest growing economies in Asia. We expect a strong growth of 6.8 per cent this year. What are the risks that Vietnam needs to monitor in 2018? However, I think Vietnam is relatively well-positioned for success in 2018, and we feel there are several opportunities for the Government and SBV to further support the development of the Vietnamese economy. What is your comment on Vietnam’s recent efforts to improve the health of the banking sector, and the achievements so far? We would highly recommend the Government and SBV to continue to focus on improving Conduct and Transparency in the Public and Banking sectors as well as on enhancement of Anti-Money Laundering standards, which will improve the business landscape and contribute to fair competition and an inclusive economy. How is the Vietnamese market important to Standard Chartered? And what is your strategy in the country? Vietnam is a key part of our unique international network and represents a strategic part of our ASEAN network. We are fully committed to participating and investing in Vietnam’s growth through a robust and sound long-term strategy, and offer a full suite of banking products and services for our corporate clients, financial institutions, as well as small and medium enterprises and retail clients, to help them grow their business, create jobs, and generate wealth. We will continue to draw on our strengths of an extensive international network, in-depth knowledge of the market and advanced advisory and product capabilities to effectively support our clients as they seek to meet their growth ambitions. We have invested significantly in Vietnam over the last year and desire to continue to invest in the business in Vietnam. This investment has gone towards hiring more staff, expanding our distribution footprint in Vietnam, and bringing new cutting-edge products to Vietnam to make banking safer and more convenient for Vietnamese people and companies. We recently launched our new office and branch at District 7, Ho Chi Minh City. Besides a full suite of banking products and services for Retail and Corporate Banking clients, the new branch offers a fully robotic Safe Deposit Locker facility - the first of its kind to be available in Vietnam, helping to provide our clients with peace of mind in safeguarding their valuables. We have also launched touchID and FaceID biometric authentication on our mobile banking app to enhance client experience. Other news
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