DBS bank to open office in Hà Nội

VNGOP – The Governor of the State Bank of Việt Nam has given the green light to DBS – one of the largest financial and banking service groups in Asia – to open a representative office in Hà Nội.

March 24, 2008 8:45 PM GMT+7

Singapore’s DBS is a leading bank in financing retail banking services and small and medium-sized enterprises, foreign currency trading, assets management and securities brokerage.It also specialises in consultation on shares and bonds issuance. Outside of well-established markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its network in China, India, Indonesia, Malaysia , Thailand and the Philippines. In addition to DBS, two other Singaporean banks, the OCBC and United Overseas Bank (UOB), have established branches in Hồ Chí Minh City .
OCBC and UOB now respectively hold 10 percent stakes in the Vietnam Commercial Joint Stock Bank for Private Enterprises (VP Bank) and the Phuong Nam Joint Stock Commercial Bank (Southern Bank).
Việt Nam is now home to 37 branches and 53 representative offices of foreign banks.(VNA)