BPCE international takes over Natixis banking activities in Vietnam
Groupe BPCE announces the transfer of its banking activities in Vietnam from Natixis to BPCE International. This transfer, which has been approved by regulatory authorities, will enable Groupe BPCE to serve SMEs operating in Vietnam through BPCE International retail banking network.
This operation falls into the Group strategic plan “Growing differently” aiming at developing the Group’s international presence in retail banking, including for SME market, through BPCE International.
Since 1992, Groupe BPCE has held a banking licence in Vietnam with a branch in Ho Chi Minh City and a representative office in Hanoi.
According to Philippe Garsuault, CEO of BPCE International, “the integration of the Ho Chi Minh City branch into BPCE International extends our network of retail banks in a strategic country. Vietnam, the third South-East Asia country by population size, has one of the highest economic growths in the area. Business relations between Vietnam and Africa are booming and we can rely on our presence in Africa to capture those deal flows”.
According to Nicolas Du Pasquier, Senior Country Manager Vietnam, “Vietnam, which has just signed a free trade agreement with the European Union, is raising more and more interests from French and European companies. In this country, the export oriented private sector is growing fast and represents a real opportunity for BPCE International.”.
About BPCE International
BPCE International (full name: BPCE International et Outre-mer) is the holding company supervising Groupe BPCE’s interests in the international and French overseas territories markets. This encompass five banks in Africa and three in Asia-Pacific, two specialized subsidiaries and minority stakes in five banking institutions. Its mission is to develop international retail banking for Groupe BPCE.