Prudential financial company to open branch in Hanoi

Prudential Vietnam Finance Company Limited (PruFC) will open a branch in Hanoi under the State Bank of Vietnam (SBV)’s approval.

According to SBV’s decision, PruFC branch in Hanoi has to conduct online transactions with the head office and set up internal control systems in accordance with SBV’s regulations.

PruFC, headquartered in Ho Chi Minh City , commenced its operation in 2007 with focus being placed on capital mobilisation and credit provision,

The company has a charter capital of 7.5 million USD. The figure will increase to 15-30 million USD in the next two years.

Prudential life insurer, which has been working in Vietnam since 1999, has provided services for 2.5 million contracted clients.

It set up the country’s largest fund management company in 2005, attracting 1.3 billion USD in real estate.

VNA

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