Standard Chartered Vietnam to Expand Network Quickly
The British bank Standard Chartered Vietnam will quickly expand the network across Vietnam to bring local consumers new products and services, said the bank’s general director Ashok Sud.
“We plan to open more 20 to 30 branches in Vietnam within three or four years and install more than 250 ATMs from now till 2010,” he said in an interview with the Vietnam Economic Times Thursday.
As a 100 per cent foreign owned bank in Vietnam, Standard Chartered will help local businesses access to international markets and raise more capital sources for their investment projects.
Vietnam is a key growing market in Asia and Standard Chartered hopes the nation will play more and more important economic role in the region, he said.
Experiences show that foreign banks often hold small market share in developing economies. However, their most important role is to introduce high-quality services, thereby to improve standard of banking sector in Vietnam and finally benefit the economy and consumers.
For Standard Chartered, the bank plans to introduce products such as savings, personal loans, asset management, banking transaction and deposits designed suitable for Vietnamese people, Ashok Sud said.
Standard Chartered just got licenses to set up a wholly foreign owned bank in Vietnam on September 9, becoming one of first two foreign banks to win such permissions, beside HSBC. (Vietnam Economic Times)
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