Standard Chartered Vietnam named "Leading Foreign Bank in Vietnam" in 2021

26 April 2022, Vietnam - Standard Chartered Bank Vietnam has been named in the Top 50 Foreign Invested Enterprises (FIEs) in Vietnam with the title "Leading Foreign Bank in Vietnam" in 2021 by Vietnam Economic Times. This is a testament to the Bank’s strong commitment and unwavering efforts to support the sustainable development of its clients and the economy.

The award recognizes the pioneers in innovation, green transition and the application of digital technology in production, businesses and corporate governance. With more than 600 nominations and registrations through two rounds of survey and selection, the awards honoured top 50 outstanding FIEs in the six industry groups of processing and manufacturing; digital technology and digital services; financial services and insurance and other segments.

Michele Wee, CEO of Standard Chartered Bank Vietnam said: “We have long presence in Vietnam for 118 years. This is a great motivation for our team to continue focusing on our key strengths to deliver for our clients, stakeholders and the economy. We are very proud to receive the recognition by Vietnam Economic Times and want to thank our clients and the Standard Chartered Vietnam team for the trust in our organization.”

Leveraging the strength of Standard Chartered’s broad international network and in-depth local knowledge, Standard Chartered continues to contribute to Vietnam’s economic development. The Bank has invested significantly in Vietnam over the last few years. the Bank recently increased its charter capital to over VND 6.9 trillion, the third capital injection since 2018, to support the continued growth of its Vietnam franchise.

Besides running a sustainable business, Standard Chartered Vietnam has been proactively working to make a difference in the community by tackling issues that may hinder sustainable social and economic development. Community investment is a key focus of the bank’s commitment to Vietnam. The Bank has run multiple initiatives in Vietnam to support the communities, which have benefited millions of Vietnamese such as Goal, Financial Education and Futuremakers.

In February this year, together with Ministry of Foreign Affairs, the Bank organized the forum “2022 Economic Outlook and Green Finance Policy” with the participation of over 30 provinces across Vietnam. The Forum is a part of Standard Chartered’s ongoing efforts to support Vietnam’s sustainable development process.

Fitch Ratings, in December, affirmed the outlook on Standard Chartered Bank Vietnam at positive with the Bank’s long-term foreign currency and local currency issuer default ratings at BB and BBB respectively.

Hien Le