Prudential, the second largest insurer in the UK, is to expand it’s business in Vietnam into consumer finance.
Prudential has been operating its insurance business in Vietnam since 1999 and last year launched a successful personal finance division offering loans of up to $2,500. The company is now expanding that business into mortgage and credit card accounts.
The Vietnamese central bank is predicting a rise of 38% in personal and corporate lending for the year.
Prudential are one of very few foreign finance institutions to have been granted a licence in Vietnam, which boasts one of the fastest growing economies in Asia.
2 comments so far
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