Biggest regional bank to open branch in VN

VGP - Singapore-based DBS, the biggest bank in Southeast Asia, has announced to establish its first branch in Việt Nam’s Hồ Chí Minh City this year.

January 15, 2010 5:03 PM GMT+7

DBS has a representative office in Hà Nội, opened in July 2008

The branch establishment will strengthen the development of DBS networks in Asia, and enable the bank to assist its Singaporean customers when they want to expand business activities overseas, said DBS’s representative.

The Hồ Chí Minh City branch will in the short term focus on providing financial assistance to Singaporean and Asian firms which do business in Việt Nam.

These firms will access to its comprehensive service network including credit, commercial grant, cash management and treasure consultancy.

The branch plans to develop other services for individuals and small- and medium-sized enterprises soon.

DBS is ready to assist Vietnamese enterprises which want to list their shares in the Singaporean stock market.

By the end of November 2009, Singaporean firms had invested in over 760 projects with the combined capital of US $17 billion in Việt Nam, many of them are customers of DBS.

DBS opened its representative office in Hà Nội in July 2008.

By Ngọc Vân