Taiwanese bank comes to Vietnam

[Viet]

Updated : 9/19/2015 6:35:05 PM

Taiwan's E.SUN Commercial Bank (E.SUN Bank) on September 18 opened its first branch in Vietnam in Bien Hoa city, the southern province of Dong Nai.

Situated in the Amata Industrial Zone, the bank hopes to benefit from the expected increase in foreign investment, especially from Taiwan, as a result of the many bilateral and multilateral trade agreements Vietnam signed this year, and the Trans-Pacific Partnership, which it might sign in the near future.

"The opening of E.Sun Bank's branch in Vietnam is part of a plan to expand operations in Asia," Joseph N.C. Huang, the lender's President said.

Initially, the bank will provide financial services to Vietnamese and foreign businesses, especially Taiwanese, before targeting individual customers in the future.

The bank now offers services to 3,000 Taiwanese businesses. It has a chartered capital of US$30 million and a license for 99 years.

 

[Edison Chen]

China Construction Bank, ICBC to open branches in Vietnam. - Free Online Library

http://hanoi.icbc.com.cn/icbc/海外分行/河内网站/vn/default.htm

THOÂNG BAÙO TUYEÅN DUÏNG NHAÂN VIEÂN | 中国银行@越南

Agricultural Bank of China Hanoi Representative Office

Chinese bank ICBC starts business in Vietnam

HANOI: The Industrial and Commercial Bank of China (ICBC) expects its Hanoi branch to be a financial bridge connecting businesses in China, Vietnam and other Southeast Asian countries, said ICBC chairman Jiang Jianqing here on Tuesday.

ICBC, the world's largest bank by market capitalization, started its business in Vietnamese capital city of Hanoi on Tuesday. It is the first foreign lender from the Chinese mainland to receive a banking permit in Vietnam in 14 years.

"The intensifying two-way economic and trade between Vietnam and China has called for the establishment of an ICBC branch in Vietnam, a fast-growing nation in Southeast Asia," said Jiang.

"Growing businesses demand a safe, convenient and clear channel for capital settlement and strong financial support," he said.

Chinese official statistics showed that China has been Vietnam' s largest trade partner for six consecutive years. Two-way trade exceeded $20 billion last year. By the end of 2009, Chinese companies had invested an accumulative $3 billion in Vietnam.

Jiang said ICBC appreciates Vietnam's huge economic potential and stable political environment. Vietnamese economy has been expanding at a fast pace of seven to eight percent in the past decade. In 2009, despite the negative impact from the global economy, Vietnam registered a growth rate of 5.3 percent, one of the fastest in the region.


Jiang said in the global expansion strategy of ICBC, the Chinese bank has attached great importance to the market of Association of Southeast Asian Nations (ASEAN).

The recently-established China-ASEAN Free Trade Area creates huge trade and investment potential for businesses and big opportunities for commercial banks, said Jiang.

ICBC has set up branches or extended business operation into five ASEAN countries including Singapore, Indonesia, Thailand, Malaysia and Vietnam, forging a strong service network, according to Jiang.

The aggregated Gross Domestic Product (GDP) of these five countries account for more than 80 percent of the total economic output in ASEAN, said Jiang.

Jiang said ICBC Hanoi branch will be committed to supporting bilateral trade between Vietnam and China and making contribution to the development of Vietnamese economy.

Updated : 9/19/2015 6:35:05 PM

Taiwan's E.SUN Commercial Bank (E.SUN Bank) on September 18 opened its first branch in Vietnam in Bien Hoa city, the southern province of Dong Nai.

Situated in the Amata Industrial Zone, the bank hopes to benefit from the expected increase in foreign investment, especially from Taiwan, as a result of the many bilateral and multilateral trade agreements Vietnam signed this year, and the Trans-Pacific Partnership, which it might sign in the near future.

"The opening of E.Sun Bank's branch in Vietnam is part of a plan to expand operations in Asia," Joseph N.C. Huang, the lender's President said.

Initially, the bank will provide financial services to Vietnamese and foreign businesses, especially Taiwanese, before targeting individual customers in the future.

The bank now offers services to 3,000 Taiwanese businesses. It has a chartered capital of US$30 million and a license for 99 years.

 

[Viet]

China Construction Bank, ICBC to open branches in Vietnam. - Free Online Library

http://hanoi.icbc.com.cn/icbc/海外分行/河内网站/vn/default.htm

THOÂNG BAÙO TUYEÅN DUÏNG NHAÂN VIEÂN | 中国银行@越南

Agricultural Bank of China Hanoi Representative Office

Chinese bank ICBC starts business in Vietnam

Jiang said ICBC Hanoi branch will be committed to supporting bilateral trade between Vietnam and China and making contribution to the development of Vietnamese economy.

Taiwan has a much better image in Vietnam than mainland China. so Taiwanese. China´s image, perception is ruined since milleniums. not just yesterday since the conflict in the East Sea breaks out.

 

[Edison Chen]

Taiwan has a much better image in Vietnam than mainland China. so Taiwanese. China´s image, perception is ruined since milleniums. not just yesterday since the conflict in the East Sea breaks out.

Same thing applies to the images of Vietnam and other ASEAN countries in China. Btw, Vietnam banks can't compete with foreign peers in your own country Vietnam.

 

[AndrewJin]

China Construction Bank, ICBC to open branches in Vietnam. - Free Online Library

http://hanoi.icbc.com.cn/icbc/海外分行/河内网站/vn/default.htm

THOÂNG BAÙO TUYEÅN DUÏNG NHAÂN VIEÂN | 中国银行@越南

Agricultural Bank of China Hanoi Representative Office

Chinese bank ICBC starts business in Vietnam

HANOI: The Industrial and Commercial Bank of China (ICBC) expects its Hanoi branch to be a financial bridge connecting businesses in China, Vietnam and other Southeast Asian countries, said ICBC chairman Jiang Jianqing here on Tuesday.

ICBC, the world's largest bank by market capitalization, started its business in Vietnamese capital city of Hanoi on Tuesday. It is the first foreign lender from the Chinese mainland to receive a banking permit in Vietnam in 14 years.

"The intensifying two-way economic and trade between Vietnam and China has called for the establishment of an ICBC branch in Vietnam, a fast-growing nation in Southeast Asia," said Jiang.

"Growing businesses demand a safe, convenient and clear channel for capital settlement and strong financial support," he said.

Chinese official statistics showed that China has been Vietnam' s largest trade partner for six consecutive years. Two-way trade exceeded $20 billion last year. By the end of 2009, Chinese companies had invested an accumulative $3 billion in Vietnam.

Jiang said ICBC appreciates Vietnam's huge economic potential and stable political environment. Vietnamese economy has been expanding at a fast pace of seven to eight percent in the past decade. In 2009, despite the negative impact from the global economy, Vietnam registered a growth rate of 5.3 percent, one of the fastest in the region.


Jiang said in the global expansion strategy of ICBC, the Chinese bank has attached great importance to the market of Association of Southeast Asian Nations (ASEAN).

The recently-established China-ASEAN Free Trade Area creates huge trade and investment potential for businesses and big opportunities for commercial banks, said Jiang.

ICBC has set up branches or extended business operation into five ASEAN countries including Singapore, Indonesia, Thailand, Malaysia and Vietnam, forging a strong service network, according to Jiang.

The aggregated Gross Domestic Product (GDP) of these five countries account for more than 80 percent of the total economic output in ASEAN, said Jiang.

Jiang said ICBC Hanoi branch will be committed to supporting bilateral trade between Vietnam and China and making contribution to the development of Vietnamese economy.

Never heard of that Taiwan Bank.
Even Taiwan's The Farmers Bank of China and Chinatrust Commercial Bank are much more famous.

Taiwan's top 20 banks

 

[biendong]

Money is welcomed here in Vietnam.

 

[Viet]

Never heard of that Taiwan Bank.
Even Taiwan's The Farmers Bank of China and Chinatrust Commercial Bank are much more famous.

Taiwan's top 20 banks

View attachment 258475

not Taiwan Bank, but E.SUN Commercial Bank. just a small player. you are probably right.

 

[AndrewJin]

not Taiwan Bank, but E.SUN Commercial Bank. just a small player. you are probably right.

That's why I am curious about this name.
I have never heard of it before.
It literally means jade mountain bank.
The mountain is famous though.

 

[Viet]

Same thing applies to the images of Vietnam and other ASEAN countries in China. Btw, Vietnam banks can't compete with foreign peers in your own country Vietnam.

well, there are more cases Vietnam companies can´t compete against foreign counterparts. as for example, US chicken legs selling for $0.9 a kg is unbeatable on Vietnam market, destroying domestic chicken growers, feeders. That is the negative side. the postive side is our people learn now the hard way to survive: developing a domestic animal feed industry. like the one in the US. so the more foreign companies, the better the prospect for our economy.

actually, this thread is dedicated for @Martian2, our long time served Taiwanese poster, wannabe Chinese mainlander. We remember, he was so happy, when last year anti chinese riot broke out, following china deploying of oil rig into our EEZ waters. he predicted Vietnam economy would collapse or at least badly suffer, because Taiwanese investors would pull out of Vietnam. that is not the case. more, Taiwan increases investments.

 

[Aepsilons]

well, there are more cases Vietnam companies can´t compete against foreign counterparts. as for example, US chicken legs selling for $0.9 a kg is unbeatable on Vietnam market, destroying domestic chicken growers, feeders. That is the negative side. the postive side is our people learn now the hard way to survive: developing a domestic animal feed industry. like the one in the US. so the more foreign companies, the better the prospect for our economy.

actually, this thread is dedicated for @Martian2, our long time served Taiwanese poster, wannabe Chinese mainlander. We remember, he was so happy, when last year anti chinese riot broke out, following china deploying of oil rig into our EEZ waters. he predicted Vietnam economy would collapse or at least badly suffer, because Taiwanese investors would pull out of Vietnam. that is not the case. more, Taiwan increases investments.

Taiwan is the conduit for Greater China cooperation with Vietnam, I suppose.

Secondly, in regards to Vietnam and China; the dance of China and Vietnam is millennial old, there is never a short term solution to a millennial issue , only trade and understanding can ensure peaceful cooperation on a border to border basis.

But then again you probably know that, my Viet Namese friend .

 

[Martian2]

well, there are more cases Vietnam companies can´t compete against foreign counterparts. as for example, US chicken legs selling for $0.9 a kg is unbeatable on Vietnam market, destroying domestic chicken growers, feeders. That is the negative side. the postive side is our people learn now the hard way to survive: developing a domestic animal feed industry. like the one in the US. so the more foreign companies, the better the prospect for our economy.

actually, this thread is dedicated for @Martian2, our long time served Taiwanese poster, wannabe Chinese mainlander. We remember, he was so happy, when last year anti chinese riot broke out, following china deploying of oil rig into our EEZ waters. he predicted Vietnam economy would collapse or at least badly suffer, because Taiwanese investors would pull out of Vietnam. that is not the case. more, Taiwan increases investments.

It is still my opinion that western China and the other alternative of robotic automation are superior choices than investing in dangerous Vietnam.

I may yet be proven right. A couple more riots in Vietnam and a few more dead Taiwanese could spur the mass exodus.

My insight is fundamentally correct. We just need to wait for the Taiwanese investors to feel unsafe in Vietnam and leave.

 

[Viet]

It is still my opinion that western China and the other alternative of robotic automation are superior choices than investing in dangerous Vietnam.

I may yet be proven right. A couple more riots in Vietnam and a few more dead Taiwanese could spur the mass exodus.

My insight is fundamentally correct. We just need to wait for the Taiwanese investors to feel unsafe in Vietnam and leave.

well, if you run a business, you would go to a place or places that suit best in your eyes. if taiwanese businesses find western china or elsewhere more attractive, they go there without hesitation.

sure, riots happen everywhere the world, including vietnam. the major riot last year was caused by, not only because you deployed oil rig and naval vessels into our waters, but chinese state media threatened vietnam with military action, aka war. an unheard provocation. if china repeats such provocation, anti chinese riot could repeat. yes, vietnam becomes unsafe, as you say. taiwanese companies would leave vietnam, and you are a happy man.

Taiwan is the conduit for Greater China cooperation with Vietnam, I suppose.

Secondly, in regards to Vietnam and China; the dance of China and Vietnam is millennial old, there is never a short term solution to a millennial issue , only trade and understanding can ensure peaceful cooperation on a border to border basis.

But then again you probably know that, my Viet Namese friend .

you know, Vietnam would be a better place if our country lies middle in the ocean protected by free swimming sharks. like Japan. and Taiwan.

 

[Edison Chen]

Never heard of that Taiwan Bank.
Even Taiwan's The Farmers Bank of China and Chinatrust Commercial Bank are much more famous.

Taiwan's top 20 banks

View attachment 258475

Yep, me too, actually, any 城商行 from China could beat it so hard, by the total asset standard.

well, there are more cases Vietnam companies can´t compete against foreign counterparts. as for example, US chicken legs selling for $0.9 a kg is unbeatable on Vietnam market, destroying domestic chicken growers, feeders. That is the negative side. the postive side is our people learn now the hard way to survive: developing a domestic animal feed industry. like the one in the US. so the more foreign companies, the better the prospect for our economy.

So TPP will destroy you completely.

 

[AndrewJin]

Yep, me too, actually, any 城商行 from China could beat it so hard, by the total asset standard.



So TPP will destroy you completely.

The number of total assets is astounding...
Really like some county-level banks here.

 

[Viva_Viet]

So TPP will destroy you completely.

But it surely will destroy Cn first, just look at how CNY falling like an old leaf