Deputy PM receives Sumitomo Mitsui Bank’s senior official

Deputy Prime Minister Vuong Dinh Hue receives Shosuke Mori, head of the Sumitomo Mitsui Banking Corporation (SMBC)’s Asia Pacific Division, Ha Noi, March 5, 2018

At the reception, Deputy PM Hue welcomed the presence of SMBC in Viet Nam and the role it is playing to restructure Eximbank. He noted that a new scheme for restructuring credit institutions was adopted to improve capacity of commercial banks and accelerate the resolution of non-performing loans.

Though the restructuring process has harvested some positive outcomes but many challenges are awaiting ahead, Deputy PM Hue said. The Government is committed to continuing  improving the local business climate and providing favourable conditions for both domestic and foreign investors, he stated, adding that it will do it best to support SMBC in Viet Nam.

In turn, Mr. Shosuke Mori said he SMBC, one of the largest and oldest banks in Japan, is pursuing the new “Asia-centric” strategy which seeks to strengthen its business in Asia and Viet Nam is an important part of the strategy, Mori told the Deputy PM.

As the Government of Viet Nam has been restructuring the local banking system, the SMBC wants to take part in that process by sustainably developing Eximbank and supporting other local banks’ reforms in the coming time, he said. As a global bank, the SMBC expects its clients worldwide will invest in Viet Nam and the bank hopes to contribute to the development of Viet Nam’s banking industry with its new banking management system, he added.

The SMBC has made present in Viet Nam since 1994 with two branches in Ha Noi and Ho Chi Minh City.

                                                                                                                                    By Vien Nhu