BIDV-SuMi TRUST Leasing Co, Ltd (BSL) officially opened in Ha Noi last week, becoming the first financial leasing joint venture between a Vietnamese bank and a foreign financial institution in Viet Nam, vietnamplus.vn reported. — VNS Photo

BIDV-SuMi TRUST Leasing Co, Ltd (BSL) officially opened in Ha Noi last week, becoming the first financial leasing joint venture between a Vietnamese bank and a foreign financial institution in Viet Nam, vietnamplus.vn reported.

BSL is a joint venture between the Bank for Investment and Development of Viet Nam (BIDV) and Sumitomo Mitsui Trust Bank (SuMi TRUST) of Japan.

Converted from BIDV Financing Leasing Company Ltd, a domestic leasing company established by BIDV 20 years ago, BSL has VND895.6 billion (US$39.3 million) in chartered capital, half of which belongs to BIDV and 49 per cent to SuMi TRUST.

With a business presence in Ha Noi, HCM City, Da Nang and close connection with 190 branches of BIDV nationwide, BSL is ready to provide leasing products to both Vietnamese and foreign-invested companies for the sustainable growth of their production, administration and sales activities.

Nguyen Dong Tien, SBV Deputy Governor, said he believes BSL will create an impulse for financial leasing activities in Viet Nam.

BSLwas established in Tokyo in June 2017 during the visit there of Prime Minister Nguyen Xuan Phuc. — VNS