German Bank: Recognized for its Outstanding Commitment to Vietnam’s Progress

Over three decades, Landesbank Baden-Wuerttemberg (LBBW) has left an indelible mark on Vietnam's economic landscape. As a leading German bank, it has played a pivotal role in developing the country's infrastructure and production sectors. Their impact extends to offering a diverse range of financial services, including short-, medium-, and long-term financing options, to Vietnam's premier commercial banks and securities companies. An official commemorated this significant 30-year presence in Vietnam at a ceremony held on March 6, underscoring LBBW's long-standing commitment to the country's prosperity.

Administrator

18 March, 2025

To Huy Vu, Director of International Cooperation at the State Bank of Vietnam, highlighted the significant contributions of foreign banks and foreign direct investment (FDI) enterprises to the country’s successful Doi moi (Renewal) process.

Vu expressed his hope that LBBW, one of Germany’s largest and oldest banks, will continue to act as a bridge between Vietnamese and German-European businesses. He trusts that the bank will persist in offering tailored banking services to meet the diverse needs of companies operating in Vietnam, fostering mutual growth.

With LBBW’s rich history and Vietnam and Germany’s strong bilateral achievements, Vu is confident in the bank’s potential for robust growth and positive impact on the countries’ strategic partnership.

LBBW strengthens its presence in Vietnam by signing an MoU with Techcombank and Techcom Securities, aiming to enhance its services and support German companies in the country. (Photo: VNA)

Dirk Kipp, a member of LBBW’s Board of Managing Directors, reflected on the bank’s journey in Vietnam, starting with the opening of its representative office in Hanoi three decades ago. He noted that Vietnam’s transformation and embrace of reforms, investment, and growth, especially after joining the ASEAN Free Trade Area, have been remarkable.

Kipp takes pride in LBBW’s involvement in Vietnam’s green energy transition, including financing the country’s first LNG power project and supporting wind power initiatives. The bank is committed to sustainable development and plays a vital role in diversifying Vietnam’s energy landscape.

He emphasized their strong cooperation with Vietnamese partners, sharing knowledge and offering advisory services to meet the needs of the growing economy. Together, they are driving innovation and empowering communities towards a sustainable future.

In recent years, LBBW has expanded its M&A advisory services in Vietnam, achieving notable success in the renewable energy sector. This expansion demonstrates the long-term commitment of FDI in the country, even amidst global economic challenges.

As a highlight of its 30th anniversary, LBBW signed an MoU with Techcombank and Techcom Securities to broaden its services and support German companies in Vietnam. This collaboration underscores the bank’s dedication to fostering international cooperation and providing comprehensive financial solutions.

Kipp believes that their partnership with Techcombank and Techcom Securities aligns with their growth strategy in the region and reinforces their commitment to Vietnam.

With its extensive history and diverse offerings in retail, corporate, and financial institution banking, LBBW stands as a pillar of economic stability and growth, both in Germany and internationally.