BNP Paribas expands its capacity in Vietnam with the opening of a full branch in Hanoi, demonstrating its continued commitment to the country
BNP Paribas pursues its development in Vietnam with the conversion of its representative office in Hanoi into a full branch complementing its existing one in Ho Chi Minh City, established in 1992. The move is further evidence of BNP Paribas’ commitment to its development in Asia Pacific and, in particular, to Vietnam which is an important part of its regional set up.
BNP Paribas Hanoi branch will carry out activities of a commercial bank in accordance with State Bank of Vietnam’s laws and regulations, including capital mobilisation, advisory, lending activities, payment and liquidity management, and treasury services.
Pierre Veyres, Regional Head of South East Asia for BNP Paribas said: “We are delighted to open the Hanoi Branch and thank the State Bank of Vietnam in granting approval for a second branch licence in the country. The upgrading of our Hanoi representative office to a full branch allows us to better serve the needs of our clients in Vietnam and fully participate in one of the most rapidly growing economies in the region.”
Aymar de Liedekerke Beaufort, Head of Country for BNP Paribas in Vietnam said: “Many of our key clientele including state owned enterprises and the head offices of multinationals are based in Hanoi so it makes business sense to be where they are. With the branch licence, our clients can trade and book transactions directly in Hanoi without having to go through our Ho Chi Minh branch, so business gets done faster and more conveniently.”
BNP Paribas’ Hanoi branch will be headed by Mrs Thi Duc Hanh Nguyen, who reports to Aymar.
Mrs Thi Duc Hanh Nguyen, CEO of BNP Paribas Hanoi Branch, said: “BNP Paribas has been in Vietnam since 1989 where we have both the local knowledge and global expertise. This, coupled with our experienced team and product capabilities, makes us a compelling choice for clients in Vietnam and the region.”