Sumitomo Mitsui Trust to begin asset management in Vietnam with state bank

Wealth ManagementJapanese banking group expects retail money to move from savings to investmentVietnamese traditionally limit their personal assets to savings, gold and property. But as their wealth grows, they are expected to gain an appetite for stocks and bonds. (Source photos by Akira Kodaka and Kyomi Katsuno)KAI ISHIZAKIAugust 24, 2026 17:46 JSTTOKYO -- Sumitomo Mitsui Trust Group, one of Japan's top financial groups, will enter Vietnam's asset management sector as early as next year by forming a joint venture with a state-owned bank.