Vietnam's best international bank 2020: Credit Suisse
Credit Suisse completed 14 investment banking deals with a total value of $2.3 billion in Vietnam last year, despite volatility caused by the trade war between China and the US.
It was the range of deals, though, that most grabbed Asiamoney’s attention: a diverse mix of structured finance, equity, equity-linked and mergers and acquisitions transactions. Among them were IPOs, sell-side advisory arrangements, private placements, convertible and exchangeable bonds and international syndicated loans.
One noteworthy gig: the bank was exclusive financial adviser to Vingroup Joint Stock Company swapping VinCommerce shares for those in a newly-formed subsidiary of Masan Group, now Vietnam’s largest consumer retailer.
Credit Suisse worked with Vietcombank on establishing an exclusive 15-year bancassurance partnership with a life insurer. It included the $400 million sale of a stake in Vietcombank-Cardif Life Insurance to FWD. Credit Suisse was the sole investment bank with an advisory role in the deal.
It was the bank’s third transaction for Vietcombank, which speaks to its expertise in delivering on complex transactions. That savvy came in handy with local conglomerate Vingroup’s $500 million strategic investment in VinCommerce.
Credit Suisse was alone in leading Vietnam–Korea cross-border M&A transactions. These include SK Group’s $1 billion investment last year in Vingroup and SK Group’s $473 million investment in Masan Group.
Under the watch of Rehan Anwer, co-head of investment banking and capital markets for southeast Asia and frontier markets, and Le Hoai Nam, Vietnam coverage head, the Swiss bank has built a solid presence in sectors including consumer, hospitality and automobile production, giving it diverse sources of revenue from the country at a time of great uncertainty.
It is far from the only impressive foreign bank in Vietnam. Standard Chartered, which has been in Ho Chi Minh City since 1904, is a worthy rival. But Credit Suisse gets our nod because of its unique ability to take risk across sectors and execute with the best of them.