Vietnam-Japan financial leasing joint venture makes debut

14:42 | 13/09/2017 Finance - Banking

BIDV-SuMi TRUST Leasing Co., Ltd (BSL) officially opened in Hanoi on September 8, becoming the first financial leasing joint venture between a Vietnamese bank and a foreign financial institution in Vietnam.

BSL is a joint venture between the BIDV and SuMi TRUST of Japan - Source: thoibaotaichinhvietnam.vn

BSL is a joint venture between the Bank for Investment and Development of Vietnam (BIDV) and Sumitomo Mitsui Trust Bank (SuMi TRUST) of Japan, which was given a licence by the State Bank of Vietnam (SBV) on April 12, 2017.

Converted from BIDV Financing Leasing Company, Ltd., a 20-year experience domestic leasing company established by BIDV, BSL has 895.6 billion VND in chartered capital, half of which belongs to BIDV and 49 percent to SuMi TRUST.

Having business presence in Hanoi, Ho Chi Minh City, Da Nang and close connection with 190 branches of BIDV nationwide, BSL is ready to provide leasing products to both Vietnamese and FDI companies to support the sustainable growth of their production, administration and sales activities.

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

BIDV and SuMi TRUST have cooperated with each other since 2013. At the end of April 2016, the two sides agreed to join hands in the financial leasing sector.

As a result, BSLwas established in Tokyo, Japan, in June 2017, in the witness of Vietnamese Prime Minister Nguyen Xuan Phuc.

Theo VNA