In his talks with Thoi Bao Ngan Hang (Banking Times) following SCB Vietnam’s official debut in late August, Mr Sud noted that the consumer credit market accounts for only 5-7 percent of the country’s total compared to 30-40 percent in other countries.

The bank also sees good opportunities for wholesale credit because Vietnam is in need of major infrastructure projects and foreign investment. SCB Vietnam is confident that it can provide products that bring the most benefit to its customers whether they are based in China, other Southeast Asian Nations (ASEAN) or anywhere else, he said.

SCB Vietnam not only facilitates direct foreign investment capital flows but also connects businesses in Vietnam with trading partners in other countries, Mr Sud added.

The bank issues bonds and offers package products in various fields, ranging from cash management to commercial sponsorships.

SCB Vietnam Ltd, the third of five banks licensed to set up wholly foreign-owned banks in Vietnam, received its licence almost a year ago and officially began operating on Aug. 28, 2009.

According to the SCB General Director, most of the market share still belongs to local banks despite the presence of some 40 foreign banks, which account for less than 10 percent of the market, and this figure should remain stable over the next 10-15 years.