The fresh capital injection of VND 2 trillion comes as UOB Vietnam also unveiled plans for its new headquarters building in Ho Chi Minh City
Ho Chi Minh City, 8 April, 2025 - UOB today announced that it will increase its charter capital of its Vietnam subsidiary to VND 10 trillion. The fresh capital injection into UOB Vietnam of VND 2 trillion is currently under review by the State Bank of Vietnam.
Once approved and completed, the capital injection will bring the total charter capital of UOB Vietnam to VND 10 trillion. UOB has made three capital injections into its wholly-owned subsidiary in Vietnam since 2021. The latest injection means UOB Vietnam’s charter capital has doubled from its 2021 levels and it is now the second largest foreign-owned bank in the country in terms of charter capital.
Reaffirming its strong commitment to Vietnam, where UOB is the only Singapore bank with a subsidiary, UOB Group will also invest in a new headquarters building for UOB Vietnam in Ho Chi Minh City. This new building will support the bank’s business growth and workforce expansion over the next five years. Strategically located in the city center, the headquarters aligns with the bank’s vision and the government’s goal of developing Ho Chi Minh City into an international financial hub. Designed with a future-oriented vision, the UOB Vietnam Plaza will embody prosperity and sustainability while providing a modern, professional, and efficient workspace for UOB’s expanding workforce in Vietnam.
With the completion of the headquarters in Vietnam, UOB Group will have local headquarter buildings across all five of its key ASEAN markets – Singapore, Malaysia, Indonesia, Thailand and Vietnam.
Mr Wee Ee Cheong, Deputy Chairman and CEO of UOB Group, beside the model of the UOB Plaza Ho Chi Minh City
Mr Wee Ee Cheong, Deputy Chairman and CEO, UOB, said, “UOB has established the most extensive footprint in Southeast Asia, and we have been part of the ASEAN growth story. Vietnam is a key market in our ASEAN strategy, and we are dedicated to deepening our presence here for the long term. The upcoming UOB Plaza in Vietnam is more than just a building. It epitomises our long-term commitment to the country. Having our own headquarters buildings in all five of our key ASEAN markets underscores our confidence in this region and the steadfast support for our customers and the communities.”
Enhancing competitiveness and driving growth with Vietnam’s economy
With strong support from the Group, UOB Vietnam is strengthening its competitiveness and accelerating growth in digital banking to better serve both individual and corporate customers.
For the retail segment, the Bank is making significant investments in digital technology and artificial intelligence to develop a new digital banking platform, which is set to launch this year. This will enhance the banking experience and meet the growing demand for seamless digital financial transactions. The Bank is also strengthening its wealth and investment offerings, providing customers with more tailored financial solutions to grow and manage their assets effectively.
For corporate clients, UOB Vietnam is committed to supporting businesses across their supply chains, helping them seize new opportunities and advance their sustainability goals. Going forward, UOB Vietnam will continue to support foreign investment and local enterprises, facilitating growing trade and investment flows into Vietnam and contributing to the country’s economic growth ambitions.
Over the past five years, UOB’s Foreign Direct Investment Advisory (FDIA) unit, established in Vietnam in 2013, has supported more than 340 companies in expanding into the market. These companies have pledged investments of over S$8 billion and are expected to create around 53,000 job opportunities in Vietnam.
UOB recently signed a MOU with the Investment and Trade Promotion Centre (ITPC) to attract high-quality FDI into Ho Chi Minh City and Southern Vietnam, particularly in key sectors such as high technology, green growth, sustainable development, infrastructure, digital transformation, and healthcare. This partnership reinforces the Bank’s commitment to supporting the city in attracting international investors and advancing its vision of becoming an international financial centre, in line with the government's direction.
As Vietnam advances its efforts to achieve its net-zero commitment by 2050, UOB remains committed to supporting green projects and driving the transition of the domestic economy. In Vietnam, UOB has financed 19 green projects across renewable energy, manufacturing, agriculture, and sustainable aquaculture, contributing to the Bank’s broader efforts in helping businesses on their transition journey. As of December 2024, UOB Group’s sustainable finance portfolio grew by 43% to S$58 billion, exceeding its original S$30 billion target set for 2025.
Deepening support to the local community
In line with UOB’s commitment to making a positive impact in the communities it serves and as part of its regional initiatives marking the Bank’s 90th anniversary, UOB Vietnam will continue to implement Corporate Social Responsibility (CSR) initiatives to address the needs of local communities. These include:
- A five-year partnership with Saigon Children's Charity (2023–2027) to equip five computer rooms in schools across the Mekong Delta, benefiting over 2,000 students by enhancing their digital learning and computer skills.
- Partnering with a leading non-governmental organisation (NGO) in Vietnam to plant 10,000 trees in the Cà Mau mangrove forest over three years starting in 2025, contributing to climate action and environmental sustainability.
UOB Vietnam also participates in group-wide initiatives designed to empower and inspire communities by equipping them with essential knowledge and skills to progress and build resilience. These include:
- A first-time partnership with a leading education technology (EdTech) platform to provide 90,000 children from underprivileged families across 60 cities in Southeast Asia, including Vietnam, with a head start in school. Through this platform, children in Vietnam will gain easy access to quality educational resources in areas such as coding, computational thinking, and digital literacy over the next three years.
- UOB My Digital Space Programme – a multi-year initiative aimed at bridging the digital divide for children from disadvantaged backgrounds across the region, connecting them to a world of digital learning opportunities. Since its launch, the programme has benefited about 38,000 students regionally. This year, as part of the UOB My Digital Space Programme, about 20,000 children from disadvantaged backgrounds across Southeast Asia will receive digital learning tools and skills, further equipping them for the future.
UOB Vietnam commenced operations officially on 2nd July 2018. It is a wholly-owned subsidiary of UOB, a leading bank in Asia with a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America.
UOB has been in Vietnam for 30 years, started from a representative office in 1993 and became the first Singapore bank to launch a branch in the country in 1995. Today, UOB Vietnam offers a range of personal and institutional financial services to both Vietnamese and overseas customers across the country backed by the seamless connectivity offered through UOB’s regional network. In 2019, UOB Vietnam expanded into northern Vietnam with a branch in Hanoi. With the completion of the acquisition of Citibank Vietnam’s consumer banking business early 2023, UOB now has a total five branches in Ho Chi Minh city and Hanoi.
Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.
We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.
