Xi seeks global cooperation

Nirukt Sapru joins the Global Advisory Board of Timo Digital Bank platform

With more than 34 years of experience in retail, commercial and investment banking, Nirukt possesses deep emerging market experience across Asia, the Middle East, Eastern Europe, and Latin America, coupled with having run businesses in the OECD markets of Australia, Europe, and North America.

Most recently, he served as Standard Chartered Bank CEO for Vietnam and Cluster CEO for ASEAN and South Asia cluster markets. During his tenure, Standard Chartered Bank Vietnam became one of the leading international banking franchises in Vietnam and he is in particular credited for building out a digital retail franchise.

Prior to joining Standard Chartered, Nirukt was global head of Emerging Markets and Leverage Finance for ABN AMRO Bank based in London.

His extensive knowledge and experience in Vietnam and other financial markets will allow him to contribute significantly to the long-term domestic and international development of Timo.

Both Nirukt and Timo strongly believe that any strategy must be based on customer-centricity.

“Timo has an extraordinary cloud based native digital platform which allows it to provide a truly world-class digital solution for its customers,” said Nirukt. “With its obsession with customer outcomes, I am excited to join the team at Timo to serve our customers and give them a truly world class customised experience.”

With this appointment, Timo gains an exciting opportunity to understand international financial development trends and customise them to the digital banking ecosystem in Vietnam. Nirukt will therefore play a key advising, supporting, and empowering role for Timo’s senior management, complementing and validating strategic matters.

Setting up a Global Advisory Board is crucial to assist Timo in realising its aspirations of becoming the preferred “financial partner” for customers and provide the best financial experience anytime, anywhere.

To further advance this mission, Timo has concurrently made a series of additional senior management appointments tasked with developing further innovative solutions. The company hopes to positively contribute to the overall development of the banking and financial sector in Vietnam and improving the lives of the Vietnamese people through innovative and customised digital solutions.

These efforts are also starting to attract global attention. Recently, Timo was awarded Best Digital Bank in Vietnam 2021 by the prestigious International Business Magazine, the third consecutive year that Timo has received the award “Best Digital Bank in Vietnam”.

Nguyen Bao Hoang, CEO of Timo said that he sees the line between digital and traditional banks continuously blurring in the future. Timo therefore aspired to simply become a leading bank in Vietnam over the next decade.

Meanwhile, in addition to strengthening its position domestically, Timo is also assessing international strategic opportunities. Specifically, the company is open to international partners and investors who can provide strategic value to the financial ecosystem and reach customers in both financial and non-financial segments to increase Timo’s overall competitiveness in this period of abundant opportunity but also significant challenge.

Deputy Minister Dung informed about Vietnam’s diplomatic orientations and policy after the 13th National Party Congress and highly valued Germany’s important role and stature in Europe and the world as a whole.

He affirmed that Vietnam wishes to further intensify and develop the strategic partnership with Germany, which was established in 2011.

Congratulating Vietnam on the success of the 13th National Party Congress, Berger lauded the country’s efforts in the COVID-19 prevention and control, noting that Germany attaches importance to Vietnam’s role in the implementation of its policy guidelines for the Indo-Pacific region, adopted by the German Government in September 2020.

The two officials shared the view that despite impacts of the COVID-19 pandemic, the Vietnam-Germany strategic partnership has been growing strongly and effectively in various areas such as politics, economy, development cooperation, education – training, science – technology, and security – defense.

The cooperation contents under the countries’ strategic action plan for 2019 – 2022 are being carried out on schedule, including the establishment of a joint committee for economic cooperation, activities within the framework of the dialogue on law-governed states, security – defense cooperation, and the Vietnamese – German University.

They noted that in 2020, when both countries were non-permanent members of the United Nations Security Council, Vietnam was Chair of ASEAN, and Germany was President of the European Union (EU) in the last half of the year, they coordinated closely to help upgrade the ASEAN – EU ties to a strategic partnership and promote security, peace, climate, and COVID-19 issues, thus helping to deal with global concerns.

To further strengthen the Vietnam – Germany strategic partnership, the two sides agreed to jointly build a strategic action plan for the next period, increase contact and mutual visits at all levels, and step up collaboration in priority fields like politics, diplomacy, security – defense, trade, investment, development cooperation, renewable energy, digitalization, and vocational training.

They agreed to boost efforts to connect and assist the countries’ businesses to seek investment and business opportunities in each other’s markets and fully tap into chances generated by the EU – Vietnam Free Trade Agreement (EVFTA) to drive post-pandemic economic recovery.

Germany pledged support for Vietnam to enhance comprehensive cooperation with the EU, while pushing the ratification of the EU – Vietnam Investment Protection Agreement (EVIPA) by the German parliament.

Meanwhile, Vietnam welcomed Germany’s initiatives to contribute to peace, stability, cooperation, and development in the Asia-Pacific region and also showed support for the EU nation to strengthen relations with ASEAN.

The two sides agreed to keep close cooperation and mutual support at international organizations and forums, especially the UN, the Asia-Europe Meeting (ASEM), and the ASEAN-EU cooperation.

At the meeting, the officials also discussed international and regional issues of common interest.

Both voiced their concern over the recent complex developments in the East Sea, reiterating the support for the settlement of all disputes by peaceful means and on the basis of international law, especially the 1982 UN Convention on the Law of the Sea.

State Secretary Berger added that his country backs ASEAN’s efforts to bring into play the bloc’s centrality and contribute to regional peace, stability, and prosperity.

Source: VNA