Hanoi (VNA) – BIDV-SuMi TRUST Leasing Co., Ltd (BSL) officially opened in Hanoi onSeptember 8, becoming the first financialleasing joint venture between a Vietnamese bank and a foreign financialinstitution in Vietnam.

BSL is a jointventure between the Bank for Investment and Development of Vietnam (BIDV) and Sumitomo Mitsui Trust Bank (SuMi TRUST) of Japan,which was given a licence by the State Bank of Vietnam (SBV) on April 12, 2017.

Convertedfrom BIDV Financing Leasing Company, Ltd., a 20-year experience domesticleasing company established by BIDV, BSL has 895.6 billion VND in charteredcapital, half of which belongs to BIDV and 49 percent to SuMi TRUST.

Havingbusiness presence in Hanoi, Ho Chi Minh City, Da Nang and close connection with190 branches of BIDV nationwide, BSL is ready to provide leasing products toboth Vietnamese and FDI companies to support the sustainable growth of theirproduction, administration and sales activities.

NguyenDong Tien, SBV Deputy Governor, said he believes that BSL will create animpulse for financial leasing activities in Vietnam.

BIDVand SuMi TRUST have cooperated with each other since 2013. At the end of April2016, the two sides agreed to join hands in the financial leasing sector.

Asa result, BSLwas established in Tokyo, Japan, in June 2017, in the witness of VietnamesePrime Minister Nguyen Xuan Phuc.-VNA