Mizuho bank opens trade finance office in HCM City

Japan's Mizuho bank has opened an office in HCM City to provide short-term trade finance for large corporations.

Nguyen Thi Lan Huong, formerly of Techcombank, will take over as the head of the office. She will report the office's activities to Taku Ishikawa, director of the bank's HCM City branch, and Kaoru Mochizuki, head of Asia and Oceania at the bank's global trade finance division.

Mochizuki told Global Trade Review magazine that though there were disruptions coming from regulations and law of Viet Nam, his bank still saw growth opportunity and potential in the country in trade finance since more and more Japanese companies are moving to Viet Nam.

The bank is also working towards setting up a trade finance desk in Ha Noi in August as part of plan to continue to expand the business, and hiring more staff, according to Global Trade Review.

bizhub

>   Sacombank gets $50m loan from Cathay United Bank (28/07/2015)

>   SBV explains changes to personal loan limit (27/07/2015)

>   Door closes on VN tax debtors (27/07/2015)

>   HCM City reviews bank-business links (25/07/2015)

>   World Bank: Vietnam’s public debt at $110 billion (24/07/2015)

>   Quang Nam calls for Government’s help in settling Besra’s tax arrears (24/07/2015)

>   Will Vietnamese banks pass the stress test? (23/07/2015)

>   MSB, MDB to merge next month (23/07/2015)

>   Credit growth ceiling increase raises concerns (23/07/2015)

>   Gov't gears up to collect tax arrears (23/07/2015)