No longer just an outpost: Vietnam’s rise opens new front for DBS, OCBC, UOB
The financing needs of businesses there have grown as they integrate into Asian trade and capital flows
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[SINGAPORE] For Singapore’s banking giants, Vietnam once served mainly as an outpost. The lenders financed clients expanding there and followed existing relationships, rather than building new ones.
Today, the fast-growing economy of more than 100 million people has become something more, said senior bankers: an increasingly sophisticated domestic market with broader and more complex financing needs.
The country is also benefiting from regional supply-chain shifts amid ongoing geopolitical tensions. This is helping to support a constructive growth outlook in the years ahead.
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