Financial leasing significant to mobilize capital

Vietnam’s financial and banking sector has been developing rapidly, with 91 commercial banks, 27 financial and financial leasing firms and 1,100 credit institutions. Financial leasing has grown in stature as a channel to inject capital for local companies. Fujita Takeshi, BSL deputy general director, gave a bright outlook for the Vietnamese financial leasing market, due to expected overall economic growth. The BLS has designed financial leasing models to serve demands of companies, contributing to the development of businesses and the financial market, he added. It is a joint venture between the BIDV and Sumitomoto Mitsui Trust Bank, the first financial leasing joint venture between a Vietnamese bank and a foreign financial institution in Vietnam.