Standard Chartered confident in its future in Việt Nam 

   London-based Standard Chartered Bank is committed to driving commerce and prosperity in Việt Nam and is strengthening its capabilities and resources to better serve the evolving needs of clients.

Standard Chartered Bank Vietnam’s District 7 Branch in Ho Chi Minh City

Long-term commitment to Việt Nam

   Việt Nam has long been a key part of the global bank’s unique international network and a strategic part of its ASEAN network. Having established its first branch in Saigon, now Ho Chi Minh City, in 1904, the lender is celebrating its 115th year in the country this year.

“We are fully committed to participating and investing in Việt Nam’s growth through a robust and sound long-term strategy. We have done so for over a century and will continue to do so as we embark on the next phase of our journey together with Việt Nam.” said Nirukt Sapru, CEO for Việt Nam and ASEAN and South Asia Cluster Markets at Standard Chartered.

The bank participates in Việt Nam’s development process, working with the government, regulators, investors, businesses and people to further strengthen the Vietnamese economy, help Việt Nam  benefit from global and regional trade, grow the banking sector and provide more people and enterprises with access to financial services.  The lender also supports many governmental and business delegations across the world, which has helped to drive inward investments into Việt Nam.

Standard Chartered has invested heavily in Việt Nam over the last few years and continues to invest to grow its business across all segments. This investment has gone towards injecting additional capital to develop the franchise, hiring more staff to support business growth, expanding the Bank’s distribution footprint and bringing new cutting-edge products to Việt Nam to make banking safer and more convenient for Vietnamese people and companies.

“Our strategic focus on sustainable economic growth sits at the heart of our business strategy, which has helped to establish us as a significant contributor to the growth of the country and our Vietnamese clients.” said the CEO. “We are confident that our extensive international network, in-depth knowledge of the market and advanced advisory and product capabilities make us a strong partner for our clients as they seek to meet their growth ambitions.”

Standard Chartered in Việt Nam currently has four branches with around 1,400 employees, providing a full suite of commercial and retail banking products and services for corporate, financial institutions, small and medium enterprises and individuals.

A focus on Retail Banking

   Retail banking has always been an important part of Standard Chartered’s long-term commitment to Việt Nam. Leveraging on its international expertise and local capabilities, the lender looks to grow further its retail arm to benefit more local retail clients with its world-class products and services.

“We see Việt Nam as an exciting consumer market with huge potential. It is projected to be one of the countries with the fastest-growing affluent population globally through 2020,” said Harmander Mahal, Head of Retail Banking, Standard Chartered Bank Việt Nam .

Standard Chartered’s retail banking business in Việt Nam has been designed to serve the affluent and emerging affluent segments, and is focused on building scale in high-growth cities. The bank partners with clients at different stages of their lives and serves their financial needs as they build wealth. “We bring market-leading, customised value propositions and services to meet our clients’ evolving needs,” Mahal told Việt Nam News.

Standard Chartered has been leading the way in retail banking by building products and capabilities to make banking easier and meet the demands of consumers in dynamic markets, including Việt Nam, and evolving in sync with its clients’ digitally connected lives.

“Globally, we have invested close to US$1 billion during 2015-18 in digital, wealth management and infrastructure, including areas such as artificial intelligence, chatbots and cyber security. These have enabled us to stay ahead of the game, and be able to meet the dreams and ambitions of our clients,” Mahal said.

The Bank has brought to Việt Nam a range of innovative digital capabilities to provide its clients easy, convenient banking solutions, such as the Mobile Banking app, Good Life app, and Biometric Safe Deposit Locker.

Standard Chartered’s Biometric Safety Deposit Locker is the first of its kind to be available in the country, which is accessible 24/7 and ensures the highest standard of security, convenience and privacy; thus bringing clients peace of mind in safeguarding their valuables. The Bank has also recently launched a virtual credit card, allowing clients to instantly start shopping online with their virtual credit cards and enjoy special online promotions offered by the Bank without the need to wait for physical card delivery.

   According to Mahal, digitisation remains a key focus of the bank and it will continue to invest heavily in digital platforms to bring greater convenience to clients. The bank plans to launch a number of digital centres over the next few years to broaden its scope of service and allow clients to transact at their convenience round the clock.