INTESA SANPAOLO IS NOW OPERATIONAL IN VIETNAM

Milan – Ho Chi Minh City, 5 - 6 November 2008 – Intesa Sanpaolo has just obtained authorization from the Vietnam Central Bank to open a representative office in Ho Chi Minh City (formerly Saigon), the country’s industrial capital.

Through its new office, managed by Tomaso Andreatta, Intesa Sanpaolo, which already acts as intermediary for over 30% of all trade with Vietnam, wishes to strengthen relations with local banks and institutions, to follow the major infrastructural projects ongoing in Vietnam, and to be a point of reference for Italian companies for both industrial projects and trade.

Last July, with the support of SACE, Intesa Sanpaolo provided a credit line of 100 million dollars to the Vietcombank, the country’s largest commercial bank. Thanks to the combination of Intesa Sanpaolo’s direct presence, and to an already available credit line, Italian companies can benefit from the support they need in Vietnam in order to take advantage of the numerous business opportunities, both present and future, that this country can offer.  

Intesa Sanpaolo is directly present in over 40 countries, and has been operating for several years now in China (Shanghai, Beijing and Hong Kong), Japan (Tokyo), Singapore, Thailand (Bangkok), India (Mumbai) and South Korea (Seoul).

For further information, contact:

Intesa Sanpaolo
Press Office
+39 0115555922
+39 0287963851
stampa@intesasanpaolo.com