Japan’s Sumitomo Mitsui Banking Corporation (SMBC) is striving to expand business in Vietnam through its local partner - the Vietnam Export-Import Bank (Eximbank).
The Japanese daily Nikkei reported on Sept. 14 that Sumitomo Mitsui Financial Group, a subsidiary of SMBC, sent retail experts to Vietnam in June to assist Eximbank, with the hope of doubling the number of banking accounts by the end of this year.
Additionally, Eximbank will open more transaction offices and increase the number of automatic telling machines (ATMs) at industrial zones which accommodate many Japanese companies.
SMBC has been a strategic shareholder of Eximbank since it bought a 15-percent stake of the bank, worth 225 million USD in July, 2007.
Source: VNA