BIDV will cooperate with Japanese banks to intensify support for Japanese customers who want to expand investments in Viet Nam. — Photo baodautu.vn

HA NOI (Biz Hub) ─ The Bank for Investment and Development of Viet Nam (BIDV) this month signed memoranda of understanding (MoU) with two Japanese banks on business cooperation.

The banks aim to intensify support for Japanese customers who want to expand investments in Viet Nam.

Announcing this on its website, BIDV added that Japan's Minato Bank and the Bank of Yokohama will help customers study investment opportunities by providing them better access to information about the Vietnamese investment environment, taxes and laws.

The Japanese banks will also join hands with BIDV to provide the customers with credit and payment services.

The Minato Bank is headquartered in Hyogo Province and had US$32.3 billion in total assets and $1.17 billion in equity on March 31, 2014. The Bank of Yokohama is based in Kanagawa Province and had $133.98 billion in total assets and $8.84 billion in equity at the same time.

The two institutions specialise in retail and wholesale activities and provide financial services such as asset management and merger and acquisition. Credit rating agency Moody's gave them a stable outlook in the third quarter of this year.

BIDV has established Japan Desk sections in Ha Noi and HCM City to spur supplies of banking products and services for Japanese customers since November 2013. It has so far collaborated with 17 Japanese credit institutions, including SuMi TRUST Bank, Chiba Bank and Shinkin Central Bank.

BIDV has also implemented business operations in the Czech Republic, Laos, Cambodia and Myanmar. ─ VNS