Saigon Thuong Tin Commercial Bank Securities Company (Sacombank-SBS) has opened an affiliate office in Singapore, marking the first time a Vietnamese securities firm has expanded overseas.
Nguyen Ho Nam, President of SBS Global Investment Pte Ltd and General Director of Sacombank-SBS, said the Singapore-based subsidy would help Vietnamese enterprises expand operations in overseas markets, set up relations with foreign companies and will look towards being listed on the Singapore Stock Exchange.
In September this year, the Ho Chi Minh City-based company announced it would orient its operations towards investment banking, Vietnam News Agency reported.
The company is considering open offices in Singapore, Hong Kong, the U.S. and Japan to attract investment into Vietnam.
Sacombank-SBS is a wholly-owned subsidiary of Sacombank Financial Group, the first private financial group in Vietnam.
It was established in 2006, the company is currently one of the largest securities firms in Vietnam in terms of charter capital and market share.
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