Standard Chartered Vietnam injects $60 million in fresh capital
Standard Chartered Vietnam injects $60 million in fresh capital
Standard Chartered Vietnam has underscored its long-standing commitment to the nation's growth with a robust $60 million capital infusion, marking another chapter in its enduring relationship and aligning with its strategic intent to amplify onshore operations and foreign direct investment.
The investment comes on the heels of an array of accolades showcasing the bank’s exemplary performance. Notably, the global benchmark for office atmospheres, Great Place to Work®, has recognised Standard Chartered Vietnam for its commendable workplace culture. The bank's reputation as a top-tier financial institution in the region is further solidified by honours such as 'The Most Outstanding Foreign Bank in Vietnam' from the Vietnam Economic Times and the 'Best Foreign Bank in Vietnam' distinction from Global Business Review.
As the bank continues to modernise its offerings, it has received acclaim for innovations in digital banking and its expanding suite of services. This trajectory has been highlighted by its Retail Banker International’s 'Best Retail Bank' award and Global Business Outlook's acknowledgment as the 'Best Foreign SME Bank in Vietnam' for 2023.
Michele Wee, CEO of Standard Chartered Vietnam, said, “Despite the headwinds facing Vietnam in 2023, the medium-term outlook remains promising given the country’s economic openness and stability. We have built a strong business here and aspire to take it to even greater heights. Standard Chartered Vietnam is fully committed to supporting the country's economic development and prosperity for years to come."
The bank's proactive approach to sustainable development mirrors Vietnam's green ambitions. Following COP26, Standard Chartered Vietnam entered into agreements amounting to $8.5 billion dedicated to green financing, catering to the sustainable objectives of three major Vietnamese enterprises. This commitment dovetails with its broader effort under the Just Energy Transition Partnership and the bank's broader ambition of achieving net-zero emissions by 2050. Reflective of this green focus, Standard Chartered’s sustainable finance assets grew by a remarkable 30 per cent in 2022, reaching $13 billion.
Standard Chartered’s consistent investment trajectory in Vietnam is evident. Following a $120 million Tier 1 capital boost in 2021, the bank inaugurated its flagship headquarters in Hanoi in 2022, further emphasising its commitment here. With plans to celebrate its 120-year anniversary in Vietnam next year, Standard Chartered's saga in the nation is not just historical but points towards a promising future.
