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JPMorgan Chase, N.A. Ho Chi Minh City Branch announced today a capital injection of US$123 million into its branch entity, bringing the firm’s total capital investment into the market from US$77 million to US$200 million, or 4.6 trillion Vietnamese dong (VND).
The capital will be used over the next few years to fund the expansion of the bank’s onshore services and capabilities, support its fast-growing suite of product offerings and increase the hiring of local talent.
J.P. Morgan has greatly expanded its operations in Vietnam since setting up its local office in 1995, with the firm now providing a wide array of banking solutions across corporate banking, investment banking advisory, payments and capital markets.
“With more than 25 years of history and as a leading international investment bank with on-the-ground presence, J.P. Morgan has built a robust franchise in Vietnam committed to serving the needs of both local corporations and multinational firms operating here. We are proud to be part of the country’s growth and development and will continue to invest to cater to our clients and support the economy’s rapid expansion,” said Van Phan, Senior Country Officer and General Director of JPMorgan Chase, N.A. Ho Chi Minh City Branch.
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