Taiwanese financial giant wants to increase investment in Vietnam
Recognizing the strong growth potential of the Vietnamese market, the leadership of Cathay Financial Group reaffirmed its commitment to further expanding investments in Vietnam, with banking identified as a strategic priority.
As one of Taiwan’s leading financial groups, Cathay Financial Group has steadily expanded its presence across Southeast Asia and China. The group is currently accelerating its regional expansion strategy, with the ambition of becoming one of the leading financial institutions in the Asia-Pacific region.
Speaking to Tri Thức - Znews, Mr. Chang Ken Lee, President of Cathay Financial Group, expressed confidence that this is a pivotal period for the group to further scale up operations and strengthen its presence in Vietnam.
Economic growth creates opportunities for the financial sector
Having visited Vietnam multiple times, Mr. Chang Ken Lee said the country possesses several core advantages that support sustainable economic growth.
First, Vietnam has a population of more than 100 million, with the majority being young. This demographic dividend is expected to remain in place for at least another decade. Second, the country’s industrial sector is globally competitive. Third, Vietnam benefits from strong government support policies, which he emphasized are particularly important at a time when geopolitical conflicts continue to create uncertainty around the world.
Mr. Chang added that Vietnam’s economy is developing rapidly, creating significant opportunities for banks and financial institutions.
From an investor’s perspective, he observed that around 2014, Vietnam began narrowing its trade deficit and gradually shifted toward a trade surplus, contributing to greater currency stability. According to him, this transition has created opportunities for foreign investors to benefit from three key drivers during Vietnam’s growth phase: capital appreciation, foreign exchange gains and interest rate differentials.
With a long-term outlook, Cathay Financial Group has identified Vietnam as its second key market in Asia. Mr. Chang Ken Lee emphasized that the group will continue expanding its investments while strengthening brand awareness among Vietnamese customers.
Cathay first entered Vietnam through its investment in Indovina Bank, before establishing a representative office in 2005 and later expanding operations through Cathay United Bank, Cathay Life Vietnam and Cathay Insurance Vietnam.
Explaining why the group has only recently intensified its media and branding efforts in Vietnam, despite many foreign competitors already having strong market recognition, Mr. Benny Miao, Executive Vice President of Cathay United Bank, emphasized the group’s long-term philosophy.
For Cathay, entering a new market always begins with serious, long-term investment aimed at building a comprehensive understanding of that market.
According to Mr. Miao, the groundwork was laid many years ago. Over time, Cathay and its subsidiaries in Ho Chi Minh City have gradually built experienced local teams with deep market knowledge, developed integrated technology systems tailored to local needs, and established strong relationships with local business partners.
Interested in participating in Vietnam International Financial Centre
Discussing future plans in Vietnam, Mr. Benny Miao said banking will remain Cathay Financial Group’s key area of expansion, with a strategy focused on corporate clients.
In addition to supporting Taiwanese enterprises investing in Vietnam, the bank is also prioritizing partnerships with local companies, especially major corporations expanding internationally, as well as strategic businesses aligned with the Government’s infrastructure and industrial development agenda.
Currently, Cathay United Bank Vietnam works with more than 300 Taiwanese and Vietnamese companies, participates in over 100 syndicated loan transactions, and serves as lead arranger in nearly 20 deals. As a result, the bank has maintained double-digit growth in both revenue and profit over the past three years. Mr. Benny Miao stated:
We believe that close collaboration with the local business community will create a strong foundation for long-term growth and Cathay’s sustainable presence in Vietnam.
Since 2025, Cathay United Bank has injected an additional USD 160 million into its Vietnam branch, bringing total capital to USD 300 million.
Mr. Benny Miao also revealed that the group is highly interested in the Vietnam International Financial Centre (VIFC), particularly VIFC-HCM, believing that participation would allow Cathay to proactively capture investment flows, not only within Vietnam but also across international markets.
Cathay’s leadership said:
Within the broader framework of the Vietnam International Financial Centre (VIFC), Cathay aims to be recognized as an active and responsible participant in Vietnam’s financial ecosystem. Our role extends beyond that of a capital provider. We also serve as a financial services provider, a client and a long-term strategic partner within the ecosystem. In this spirit, Cathay stands ready to bring the group’s integrated financial solutions to a wide range of stakeholders, making meaningful contributions to the development of the VIFC.
Beyond banking, Cathay also operates in Vietnam’s life and non-life insurance sectors as part of its broader strategy to build a comprehensive financial ecosystem. Cathay Insurance Vietnam alone has recorded a compound annual growth rate of 20.6% over the past decade and continues to see substantial growth potential in the market.