Cathay United Bank targets consumer finance in Vietnam

HCMC – Cathay United Bank (CUB), a Taiwanese digital bank, announced a major shift in Vietnam, venturing into consumer finance after 18 years of operations in the Southeast Asian country. CUB sees advantages in Vietnam’s young, tech-savvy population of 100 million, and aims to become a leading Taiwanese bank in the digital consumer finance sector. Benny Miao, executive vice president (head of South East Asia Region) at CUB, said the bank is charting a distinctive path among Taiwanese banks in Southeast Asia, having chosen a unique development trajectory from its inception. With new digital services launched in 2024, CUB has plans to empower Vietnamese consumers and tap into the country’s dynamic financial landscape.