ING Commercial Banking Asia expands into Vietnam

It will open a representative office in Hanoi on May 7.

ING Commercial Banking Asia, a subsidiary of ING Group, will open a Vietnam representative office in Hanoi on May 7 to boost its cross-border commercial banking services.

In Asia, ING Commercial Banking provides fully integrated products such as international trade and export finance, loan syndications, securitisations and mergers & acquisitions.

ING said its Hanoi office will promote its projects in Vietnam and oversee the implementation of the bank’s agreements with Vietnamese companies and credit organizations.

“Our Hanoi office will help to address the rising demand from our European clients as they expand their businesses in this region, as well as Asian companies looking to build an international business,” said Vaughn Richtor, CEO of ING Bank in Asia.

Remco Gaanderse was appointed chief representative of ING Bank Vietnam.

ING Commercial Banking Asia is present in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Mongolia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

In 2010, the ING Group was the world’s largest banking, financial services and insurance firm by revenue with gross receipts exceeding US$77 billion annually, and the world's 12th largest corporation by revenue.