BIDV opens financial leasing arm

The Bank for Investment and Development of Viet Nam (BIDV) has opened its one-member financial leasing company, with a charter capital of VND448 billion (US$22 million).

This BIDV Financial Leasing Company (BLC) merged the bank's two financial leasing firms for better governance and thus more effectiveness. The two firms had been operating independently in the northern and southern regions.

BLC has a total asset value of VND3.313 trillion (US$160 million). Its outstanding loans total VND3 trillion.

That figure represents more than 17 per cent of the loan value offered by the nine company members in the Viet Nam Financial Leasing Association, which places BLC in the third position.

BLC has more than 900 customers with almost 2,000 leasing contracts.

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