On March 29th, 2019, at the headquarters of the State Bank of Vietnam (SBV), Governor Le Minh Hung had a meeting with Mr. Richard F. Chandler - Founder and Chairman of the Clermont Group.
At the meeting, Governor Le Minh Hung welcomed the delegation of the Clermont Group led by Mr. Richard F. Chandler to visit and work with the SBV to learn about opportunities to participate in Vietnam's financial and banking market.
SBV Governor Le Minh Hung speaks at the meeting
For his part, Mr. Richard F. Chandler expressed his sincere thanks to Governor Le Minh Hung for his hospitality. The Chairman reported to the SBV Governor about the Clermont Group operations and their wishes to participate in Vietnam's financial and banking market. The Clermont Group is an international financial group with its headquarters in Singapore. Since 2002, the Clermont Group has been involved in the reconstruction of the banking systems of Japan, India and Russia through investments in Mizuho Bank (Japan), Indiabulls Housing Finance Company (India), and is a major shareholder of Sberbank (Russia). In addition, the Clermont Group has also invested in Citi Group, Bank of America (USA), KB-Bank (Korea). In Vietnam, in the past 10 years, the Clermont Group has invested in many large companies and corporations in Vietnam, especially Hoan My Medical Group. In order to continue its long-term investment strategy in Vietnam, the Clermont Group has expressed its desires to invest in the banking sector by participating in the restructuring of Vietnam's banking system, contributing to the development of the banking system in particular and Vietnam’s economy in general.
SBV Governor Le Minh Hung shared that over the past years, Vietnam's macro-economy has remained stable with growth reaching a sustainable level, restructuring efforts have achieved positive results, which are conditions that help Vietnam continue to be a potential market for foreign investors, including in the banking sector. SBV Governor Le Minh Hung assessed that the proposals of the Clermont Group are consistent with the orientations of the Government of Vietnam in implementing the Scheme on Restructuring of Credit Institutions in association with the resolution of bad debts for the 2016-2020 period, which encourages foreign investors to actively participate in the restructuring of the banking system.
Mr. Richard F. Chandler – Chairman of the Clermont Group speaks at the meeting
SBV Governor Le Minh Hung affirmed that the SBV would continue to facilitate favorable conditions, provide timely and appropriate support for foreign investors wishing to explore investment opportunities in the banking sector in Vietnam.
VA