President of Cathay Financial Group: Time to scale up investment in Vietnam

Mr. Chang Ken Lee, President of Cathay Financial Group, emphasized that 2026 represents a pivotal inflection point for the Group to accelerate the expansion of its financial ecosystem in Vietnam. 

Vietnam as a strategic growth market

Speaking to Vietnamese media at Cathay Financial Group’s headquarters in Taipei, Mr. Chang Ken Lee highlighted Vietnam’s strong fundamentals, including a clear development trajectory, a young and dynamic workforce, a rapidly evolving technology landscape, and a strategic geographic position supported by extensive global trade agreements. These factors, he noted, position Vietnam as a highly attractive destination for Taiwanese investors in general and Cathay Financial Group in particular, aligning closely with the Group’s regional expansion strategy.

(Mr. Chang Ken Lee, President of Cathay Financial Group) 

Furthermore, in late 2025, Cathay United Bank (CUB), a core subsidiary of Cathay Financial Group, joined a consortium selected to participate in the development of infrastructure for the International Financial Centre (IFC) in Ho Chi Minh City, scheduled for implementation in 2026.

As the largest financial holding group in Taiwan, Cathay Financial Group manages total assets of approximately USD 468 billion (as of September 2025) and serves more than 15 million customers, representing around 66% of Taiwan’s population.

Cathay Financial Group operates across five key financial segments. Cathay United Bank ranks as the second-largest bank in Taiwan. In insurance, Cathay Century Insurance (non-insurance) holds the No.2 position with a 13.6% market share, while Cathay Life leads the life insurance sector with approximately 20% market share. In asset management, Cathay Securities Investment Trust ranks second, and Cathay Securities is the leading secondary market broker in Taiwan by trading value.

Addressing the timing of this expansion, Mr. Lee emphasized the longstanding and deep-rooted relationship between Vietnam and Taiwan. Taiwan has consistently ranked among the top foreign investors in Vietnam, remaining within the top tier of FDI contributors in recent years.

“We see significant opportunities to further strengthen collaboration between Vietnam and Taiwan across multiple sectors, supported by strong economic and cultural alignment. For Cathay Financial Group, we are committed to expanding our investments in banking and insurance, while leveraging our proven experience in Taiwan to support Vietnam’s long-term development,” Mr. Chang Ken Lee stated.

Cathay Financial Group accelerates Digital Banking investment in Vietnam

Mr. Benny Miao, Executive Vice President of Cathay Financial Group, overseeing the Group’s banking operations, stated that, alongside mainland China, Vietnam is one of Cathay Financial Group’s key strategic markets in Asia. “Cathay United Bank (CUB) is advancing its growth strategy through three core pillars: localization, digital transformation, and sustainable finance. These pillars are designed to strengthen its market position while supporting its ambition to become a regional banking group with broad influence across Asia. Corporate banking and retail banking have been identified as the two parallel growth engines driving CUB’s development in the market”. 

(Cathay Financial Group executives meet with Vietnamese media)

Guided by its ambition to become a regional banking platform, Cathay United Bank (CUB) is executing its “1-2-3-4” strategic framework, which comprises: one vision of becoming a regional bank; two core mindsets “One Team Service” and “One Bank Solution”; three growth drivers-digital transformation, data, and differentiation; and four strategic initiatives focused on expanding core businesses, exploring new markets, developing talent and capabilities, and enhancing end-to-end digital services to support sustainable regional growth.

In Vietnam, within the corporate banking segment, CUB provides key financial solutions including cash management, corporate financing, derivatives, and trade finance. These solutions are designed to help clients optimize liquidity management, mitigate financial risks, and improve cross-border transaction efficiency. The bank serves both domestic Vietnamese enterprises and Taiwanese corporations operating in Vietnam.

CUB has established partnerships with more than 300 enterprises across Vietnam and Taiwan, participated in over 100 syndicated loan transactions, and acted as lead arranger in nearly 20 deals, reinforcing its position among the most active foreign banks in Vietnam. The bank is also arranging a USD 100 million credit facility in Vietnam, targeting high-growth sectors such as manufacturing, industrial production, and high technology.

In retail banking, CUB continues to prioritize digital innovation, with the CUB Vietnam App serving as a flagship platform for end-to-end digital lending, designed to significantly shorten processing time and enhance overall customer experience.

Since its launch in March 2024, the CUB Vietnam App has recorded 5.7 million downloads and 790,000 registered users, positioning itself as one of the fastest-growing digital banking platforms in Vietnam.

The platform has received multiple international awards in data analytics, customer experience, and digital transformation, underscoring the central role of technology in CUB’s long-term development strategy in the Vietnamese market.

CUB is also expanding its partnerships with leading local platforms such as The Gioi Di Dong and Zalo, further reinforcing its capabilities in building a digital ecosystem and collaborative business model in Vietnam..

Insurance: Strengthening an integrated financial ecosystem

Insurance represents Cathay Financial Group’s earliest presence in Vietnam. Established in 2007, Cathay Life Vietnam has grown into one of the leading life insurers in the market in terms of charter capital. The company currently operates a nationwide network of more than 120 business locations across six major cities, including Ho Chi Minh City, Hanoi, Da Nang, Hai Phong, Dong Nai, and Can Tho. It is supported by a team of over 2,400 advisors and serves more than 500,000 customers across Vietnam. 

In the life insurance segment, and in line with accelerating digital transformation trends, Cathay Life Vietnam has invested nearly VND 150 billion in a comprehensive upgrade of its technology infrastructure, enhancing processing speed, operational efficiency, and service quality.

(Cathay Financial Group headquarters in Taipei)

In the non-insurance segment, Cathay Insurance is strengthening a risk-prevention-oriented advisory model, with a focus on key lines including motor, fire and property, engineering, and corporate risk insurance solutions.