Prudential Vietnam to increase charter capital

Prudential Vietnam Finance Co., Ltd. (Prudential Finance) will increase its charter capital and consider partnerships with local commercial banks as part of its wider expansion strategy to capture a larger share of the growing consumer finance market in Vietnam.

Prudential Finance, wholly-owned by the UK-based Prudential plc, said in a statement released on June 26 that it would increase the capital to VND615 billion from VND370 billion after obtaining State Bank of Vietnam approval.

“The capital increase reflects out long-term commitments to the Vietnamese market and focusing on longer-term growth opportunities,” said Kalidas Ghose, Chief Executive Officer of the Vietnamese operations. “We look forward to consolidating our position in the country’s fast-growing consumer finance market.”

vov, vietnamnews

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