An opening ceremony for E.SUN Bank's branch in Vietnam. — VNS Photo Quynh Hoa

HCM CITY (Biz Hub) – Taiwan's E.SUN Commercial Bank (E.SUN Bank) today opened its first branch in the country in Bien Hoa city.

Situated in the Amata Industrial Zone in southern Dong Nai Province, the bank hopes to benefit from the expected increase in foreign investment, especially from Taiwan, as a result of the many bilateral and multilateral trade agreements Viet Nam signed this year, and the Trans-Pacific Partnership, which it might sign in the near future.

"The opening of E.Sun Bank's branch in Viet Nam is part of a plan to expand operations in Asia," Joseph N.C. Huang, the lender's president said.

Initially, the bank will provide financial services to Vietnamese and foreign businesses, especially Taiwanese, before targeting individual customers in future.

The bank now offers services to 3,000 Taiwanese businesses.

It has a chartered capital of $30 million and a license for 99 years.—VNS