<article><a href="https://de.linkedin.com/pub/aymar-de-liedekerke-beaufort/18/828/49b/en" target="_blank">Aymar de Liedekerke Beaufort</a> has been relocated by BNP Paribas to Ho Chi Minh City,Vietnam, from Frankfurt,Germany in order to serve as country head and CEO of BNP Paribas Ho Chi Minh City (Saigon).</article>

<a href="https://de.linkedin.com/pub/aymar-de-liedekerke-beaufort/18/828/49b/en" target="_blank">Aymar de Liedekerke Beaufort</a> has been relocated by BNP Paribas to Ho Chi Minh City,Vietnam, from Frankfurt,Germany in order to serve as country head and CEO of BNP Paribas Ho Chi Minh City (Saigon).
Beaufort will oversee corporate and institutional banking, investment solutions and retail banking in his new role in Vietnam. These three domains are also the core businesses of BNP Paribas in Vietnam. This latest shift comes amidst an <a href="http://www.dealstreetasia.com/stories/vietnam-lifts-foreign-holding-limit-in-cos-qualifies-for-emerging-market-status-8427/" target="_blank">opening up of the Vietnamese market to foreign ownership of firms</a>.
Beaufort oversaw corporate coverage for BNP Paribas in Germany, which he had conducted since 2012, concurrently serving as the bank’s deputy head of corporate and transaction banking for Europe between 2011 and 2012. Beaufort has previously served in country officer positions in the Czech Republic, Slovakia and Hungary, while also securing a regional post in Southeastern Europe. He has no prior experience in the Asia Pacific (APAC) region.
Succeeding <a href="https://id.linkedin.com/pub/luc-cardyn/19/539/a24" target="_blank">Luc Cardyn</a> as country head of Vietnam, Beaufort will report to <a href="https://sg.linkedin.com/pub/pierre-veyres/13/24a/433" target="_blank">Pierre Veyres</a>, regional head for Southeast Asia and CEO of BNP Paribas Singapore. BNP Paribas currently operates a bank branch in Ho Chi Minh City and a representative office in Hanoi.
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<h3>Banking snapshot</h3>
According to a Deloitte report &#8211; &#8220;<a href="http://www2.deloitte.com/content/dam/Deloitte/sg/Documents/financial-services/sg-fsi-outlook-banking-noexp.pdf" target="_blank">2015 Banking Outlook:Boosting profitability amidst new challenges</a>&#8220; &#8211;  banks will need to focus on improving economic fundamentals of their business and focus on boosting profitability, with a need to become more savvy in their choice of target segments, product offerings, and pricing.
Ethics, a robust risk culture and a greater use of data analytics will be required, especially as the financial infrastructure of Southeast Asia, and major markets like Vietnam, evolve in order to compete with global players entering the space, amid the growth of super-regional banks.
In the short-term, greater competition from non-banking financial corporations (NBFCs) such as <a href="dealstreetasia.com/tag/Innoven-capital" target="_blank">Innoven Capital</a>, are also a concern that banks will need to address. Emergent technologies like the blockchain and are also impacting the dominant position of banks in the lending and payments space.
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According to a <a href="http://www.duxtonam.com/wp-content/uploads/2015/01/Vietnam-Banking-Report_2015.pdf" target="_blank">report</a> by <a href="http://www.duxtonam.com" target="_blank">Duxton Asset Management</a>, the Vietnamese banking sector currently comprises a diverse mix of 48 large state-owned commercial banks and smaller private banks, with collective assets of VND 6.28 trillion ($US 340 million) at the end of November 2014. However, this is expected to decrease ahead of a wave of consolidation affecting the banking sector
A major banking industry issue within Vietnam that Beaufort will have to tackle in his role is the level of bad debts in the financial system, resulting from a rapid expansion in credit growth and inadequate quality controls in the run-up to joining the World Trade Organisations (WTO). However, more rigorous restrictions on lending, tighter risk controls and transparency are expected to improve this situation.
In this financial environment, international firms like BNP Paribas can capitalise on various factors to expand their market share. Additional growth in retail banking, card payment channels and the rising affluence of Vietnamese youth are expected to favour the banking sector in Vietnam as a whole.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/japans-creed-group-invests-200m-for-20-stake-in-vietnams-realty-co-an-gia-investment-9636/">Japan’s Creed Group invests $200m for 20% stake in Vietnam’s realty co An Gia Investment</a>
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Aymar de Liedekerke Beaufort relocated by BNP Paribas to Ho Chi Minh City,Vietnam, from Frankfurt,Germany in order to serve as country head and CEO.

BNP Paribas appoints new Vietnam head

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