This is the 26th Japanese bank with which BIDV has signed such a cooperation deal in this field. — Photo www.vietreader.com

HA NOI (Biz Hub) — Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) and Yachiyo Bank of Japan have inked a memorandum of understanding (MoU).

Under the MoU, both banks will partner to support Japanese firms in Viet Nam. This is the 26th Japanese bank with which BIDV has signed a co-operation deal in this field.

​BIDV and Yachiyo Bank will co-operate in providing banking services and products for Japanese companies operating in Viet Nam that are Yachiyo's customers.

The two banks will work towards meeting the needs of their customers for various financial-banking products and services, including the opening and management of accounts, deposits and loans, guarantees, domestic and international payment and currency trading.

Additionally, the two banks will co-ordinate in providing the clients with information and consultancy relating to investment and business climate in Viet Nam, the country's legal regulations for foreign investors in banking and finance and business matching.

Established in 1924, Yachiyo Bank is a regional bank headquartered in Tokyo, Japan. Its total assets and owner's equity as of March 31, 2016, were US$20.7 billion and $987 million, respectively, with a network of 84 branches.

BIDV is Viet Nam's leading State commercial bank with total assets until June 30, 2016, reaching VND930 trillion ($41.7 billion). It has established partnerships with more than 1,700 banks and bank branches in 122 countries and territories. — VNS