Societe Generale subsidiary opens branch in Hanoi
Societe Generale-Viet Finance Co. Ltd. (SGVF) inaugurated its first branch in Hanoi on April 14 in a move to expand its business operations and supply better services to clients in the country.
With total investment capital of 520 billion VND, owned by the French group Societe Generale, SGVF is the first financial company in Vietnam wholly focused on consumer credit.
Since its inception in May 2007, the company, to date, has built a network of more than 120 outlets where clients can access installments and loans without mortgages.
In Hanoi, SGVF provides its services via 40 access points, where clients can purchase a number of consumer goods, such as motorbikes, home appliances, and furniture.
SGVF Hanoi branch director Florence Cristol Galle said the company can facilitate the purchase of commodities, primarily through monthly installments. This service package is most suitable for clients who have a monthly income of at least 2 million VND, she added.
Galle said that SGVF expects to provide effective financial tools to stimulate consumption and change buying trends and the habits of consumers, helping them get used to the contemporary buying habits that are popular in most developed and many developing nations.
Societe Generale is one of the largest financial service providers in Europe, emphasising retail banking and financial services, corporate and investment banking, and global investment management services./.