Standard Chartered Vietnam injects $60 million in fresh capital

The investment comes on the heels of an array of accolades showcasing the bank’s exemplary performance. Notably, the global benchmark for office atmospheres, Great Place to Work®, has recognised Standard Chartered Vietnam for its commendable workplace culture. The bank's reputation as a top-tier financial institution in the region is further solidified by honours such as 'The Most Outstanding Foreign Bank in Vietnam' from the Vietnam Economic Times and the 'Best Foreign Bank in Vietnam' distinction from Global Business Review.

As the bank continues to modernise its offerings, it has received acclaim for innovations in digital banking and its expanding suite of services. This trajectory has been highlighted by its Retail Banker International’s 'Best Retail Bank' award and Global Business Outlook's acknowledgment as the 'Best Foreign SME Bank in Vietnam' for 2023.

Michele Wee, CEO of Standard Chartered Vietnam, said, “Despite the headwinds facing Vietnam in 2023, the medium-term outlook remains promising given the country’s economic openness and stability. We have built a strong business here and aspire to take it to even greater heights. Standard Chartered Vietnam is fully committed to supporting the country's economic development and prosperity for years to come."

The bank's proactive approach to sustainable development mirrors Vietnam's green ambitions. Following COP26, Standard Chartered Vietnam entered into agreements amounting to $8.5 billion dedicated to green financing, catering to the sustainable objectives of three major Vietnamese enterprises. This commitment dovetails with its broader effort under the Just Energy Transition Partnership and the bank's broader ambition of achieving net-zero emissions by 2050. Reflective of this green focus, Standard Chartered’s sustainable finance assets grew by a remarkable 30 per cent in 2022, reaching $13 billion.

Standard Chartered’s consistent investment trajectory in Vietnam is evident. Following a $120 million Tier 1 capital boost in 2021, the bank inaugurated its flagship headquarters in Hanoi in 2022, further emphasising its commitment here. With plans to celebrate its 120-year anniversary in Vietnam next year, Standard Chartered's saga in the nation is not just historical but points towards a promising future.

Standard Chartered Vietnam partners with MISA to launch digital financing for SMEs Standard Chartered Vietnam announced the launch of its strategic partnership with MISA JSC on April 14, witnessed by the management teams from both companies, clients, and journalists. This first-in-market partnership offers unsecured invoice financing facilities to small- and medium-sized enterprises (SMEs) in Vietnam with a highly competitive interest rate and straight-forward process.

Standard Chartered facilitates $25 million financing for Tung Ho Steel Standard Chartered Vietnam has provided a $25 million Transition Trade Finance facility to support Tung Ho Steel Vietnam in their environmentally friendly, scrap-based steel production, marking a significant step towards sustainability in the steel industry.

Standard Chartered Vietnam spearheads initiative on voluntary carbon credit exchange Standard Chartered Vietnam, together with the Department of Climate Change under the Ministry of Natural Resources and Environment (MoNRE) and Climate Impact X (CIX), has organised a seminar on establishing and operating a voluntary carbon credit exchange in Vietnam.

Standard Chartered Asia records stellar first half Standard Chartered Asia's H1/2023 report unveils a robust income growth, underpinned by record performances in 11 of its markets, including Vietnam, and a flourishing cross-border trade, particularly in the China-ASEAN corridor.