Sacombank sets up financial leasing arm

Governor of the State Bank of Vietnam Le Duc Thuy has licensed the HCM City-based Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to set up the Sacombank Leasing Co (Sacombank-LC).
Sacombank-LC has a chartered capital of 100 billion dong and lifespan of 50 years and is headquartered at No 278 Nam Ky Khoi Nghia street, District 3, HCM City.
Sacombank-LC is tasked to raise short, medium and long-term deposits from foreign and local credit institutions, issue valuable papers such as exchange bills, certificates of deposits, bonds and so forth.
Furthermore, Sacombank-LC also is allowed to receive other capital sources according to the provisions of the SBV.
Sacombank-LC will provide leasing operations such as financial leasing, customer consultancy related to financial leasing, receiving machinery trust, financial leasing-related trust services, operational lease and others.

 

Category: Finance