Sacombank Financial Leasing Company (Sacombank Leasing), with the chartered capital of VND 150 billion, officially opened on July 10 at 87A Ham Nghi St., Dist. 1, Ho Chi Minh City. This is the first leasing firm owned by a commercial joint-stock bank in Viet Nam.
Once the country joins WTO, the main concern of Vietnamese enterprises, especially small and medium ones, is to find the source of medium – long term capital to improve performance, product quality and to expand business operation.
Sacombank Leasing is founded as a professional financial partner, capable of meeting enterprises’ needs for long-term fund. The firm also commits to its clients to develop in the process of economic integration and open competition.
Sacombank Leasing specializes in financial leasing services with the terms varying from 3 to 5 years, or at least 60% of the asset’s life-span.
Initially, Sacombank Leasing will focus on the leasing services, and related delegation and asset management.
All of the leased asset of Sacombank Leasing will be insured.
“Financial leasing companies in Viet Nam, since 1998, have significantly boosted the economic growth, and partly eased the pressure on the commercial banking system, especially in medium and long-term capital”, Director of the State Bank of Viet Nam- HCMC Branch, Tran Ngoc Minh said.
“The growing number of leasing firm shows that this is an appropriate way of development for Viet Nam’s current financial and credit market”, he added.
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