Prudential expands Vietnam business into consumer finance
10th October 2007
By Staff Writer
UK-based financial services group Prudential has launched a consumer finance business in Vietnam. Prudential Vietnam Finance will help customers meet their individual and business needs through personal loans, sales finance and mortgages, with additional products, including credit cards, to be launched as the business develops.
Prudential is the first foreign firm to be licensed by the State Bank of Vietnam for consumer finance, and also the first foreign non-bank financial institution to enter the local credit market.
Headquartered in Ho Chi Minh city, the new finance company will offer services through direct sales channels, as well as customer service centers in key cities nationwide.
Prudential Vietnam Finance is the first consumer finance company within the Prudential group, and marks the expansion of the group's business in Vietnam, where it already has a strong presence as a life insurer and fund manager.
Commenting on the launch, Mark Tucker, group CEO, said: "The launch of our consumer finance business marks an important step in cementing Prudential's position as a leading retail financial services group, and is strong proof of our commitment to the Vietnam market and to growing our business to meet the needs of the Vietnamese people." |
