Ha Noi (VNA) - Prudential, the UK-based financial services group, on October 9 officially opened its Prudential Vietnam Finance Co (PruFC) in Ho Chi Minh City.
PruFC will operate in the two areas of capital mobilisation and consumer credit provision with an initial chartered capital of 7.5 million USD.
The company will provide services, including pay-by-instalment loans, issuance of credit cards and in-cash loans, and guarantees relating to consumer credit and credit intermediary services, according to PruFC director Kalidas Ghose.
Addressing the inaugural ceremony, Mark Tucker, group chief executive, said that the establishment of PruFC realised Prudential’s commitments in the development of financial services in Viet Nam through connecting operations of the three fields of insurance, investment and finance.
The PruFC will create a new credit channel to serve the Vietnamese public’s consumer demands, Kieu Huu Dung, representative from the State Bank of Viet Nam, said.
Prudential established a life assurance operation in Viet Nam in 1999 that is now a market leader with 2.5 million policy holders, and in 2005 it launched a fund management company that has attracted 1.3 billion USD in assets, making it the country’s largest institutional fund manager.--Enditem
|
|