Standard Chartered, Prudential Vietnam Join Hands to Provide Insurance Services
Standard Chartered Bank and Prudential Vietnam will co-provide insurance products to clients via Bancassurance Bank.
Standard Chartered Bank and Prudential Vietnam signed a cooperation deal on January 19. With the deal, Standard Chartered will become an official outlet of three insurance products for Prudential Vietnam.
This is the first deal Standard Chartered and Prudential Vietnam have signed so far.
Standard Chartered Bank was among five 100 per cent foreign-invested banks received licenses to open in Vietnam last year.
In 2008, foreign banks and financial companies reportedly made pretax profit of VND1.418 trillion, down 42 per cent on year, according the Vietnam’s central bank.
Currently, Vietnam has 36 foreign bank branches, five joint stock banks, nine financial companies and 54 representative offices of foreign banks. (The People, Labor, SBV)
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