Toyota Vietnam's dealer in Bac Giang Province. Toyota Vietnam's finance company - TFSVN - increases its charter capital to VND700 billion. — Photo courtesy of Toyota Vietnam

The State Bank of Vietnam (SBV) has issued a decision to approve amendments of the charter capital as stated in the business licence of Toyota Financial Services Vietnam Company Limited (TFSVN).

Accordingly, TFSVN has increased its charter capital to VND700 billion (US$30.43 million) from VND500 billion.

TFSVN is a wholly-foreign invested financial company invested by the Toyota Financial Group (TFC) and a member of Japan’s Toyota Financial Services Corporation (TFSC).

TFSVN specialises in providing financial products to Toyota car buyers and Toyota authorised dealers. This is the 33rd financial company among 35 financial companies of TFSC in the world.

TFSC has 100 per-cent capital of the Toyota Motor Corporation (TMC), operating in the field of providing financial services and products to Toyota car buyers in Japan and all around the world. At present, TFSC's global system covers 35 territories and regions. — VNS