Foreign financial institutions fare well in 2007
Foreign-invested financial institutions and foreign banks’ branches in Viet Nam continued to reap a good year in 2007 as they recorded an 8 percent increase in their total assets to reach 215 trillion VND.
Representatives of these institutions reported the result to the State Bank of Viet Nam during their meeting in Ha Noi recently.
The State Bank of Viet Nam said it considered foreign financial institutions as active factors to support the Vietnamese banking system to grow in a healthy and sustainable manner.
It also said foreign institutions have helped foster the linkage between foreign investors and Vietnamese businesspeople.
There are 35 branches of foreign banks, five joint venture banks, four foreign-invested financial leasing companies and two foreign-owned financial companies operating in Viet Nam.
Experts predicted that the number of foreign financial institutions in Viet Nam would increase in the coming time as the country has gradually opened its banking market in line with its commitments to the World Trade Organisation.- (VNA)
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