Standard Chartered celebrates 115th year of business in Vietnam

February 27, 2019 | 17:36
Standard Chartered Vietnam held celebrations for its 115th anniversary this week.
standard chartered celebrates 115th year of business in vietnam
Standard Chartered celebrated its 115 years in Vietnam this week

As part of the week-long celebrations, Standard Chartered Vietnam hosted a Gala Dinner at Independence Palace, HCMC, on February 22. A 10-kilometre Run took place the following day in Phu My Hung Urban Area, District 7, with participation from clients and employees.

The Bank, whose headquarter is in London (UK), started off with its first office in Saigon (now Ho Chi Minh City) in 1904. In the 1920s, it became one of the first foreign banks to support Vietnam’s booming rice export business and provide credit facilities to finance the trade.

Operations were then halted due to the wars until 1991, when Standard Chartered re-opened its Vietnam-based offices. The Bank was then among the first of the foreign financial institutions to gain the locally-incorporated status in 2009.

“We are very proud to be part of Vietnam’s history. Since we first set up our footprint in Vietnam in 1904, Standard Chartered has been committed to the country’s long-term growth and development," said Judy Hsu, regional CEO for ASEAN and South Asia at Standard Chartered.

Hsu emphasised that Vietnam was an important market for the Bank, and it will continue to invest in the country for long-term.

For instance, Standard Chartered Vietnam has injected additional $50 million in tier-one capital to reinforce its operations, expand the distribution network, and deploy resources to support business growth. The Bank also introduced new digital applications to Vietnam, such as virtual credit cards, automated biometric safe deposit locker and retail digital centres.

According to Nirukt Sapru, CEO for Vietnam, ASEAN and South Asia Cluster Markets, Standard Chartered prides itself in being one of the oldest international banks in Vietnam, with in-depth local knowledge and an international network.

"We'll continue to focus on these strengths to deliver the high standards of service you have come to expect, combined with the latest technologies - a digital bank with a human touch," said Sapru.

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