CEO Group and BIDV ink co-operation agreement

Wednesday, Jul 23, 2014 09:25


CEO Group and BIDV sign the comprehensive co-operation agreement in Ha Noi on July 22. — VNS Photo

HA NOI(Biz Hub) — CEO Group JSC and the Bank for Investment and Development of Viet Nam (BIDV), on July 22, inked a comprehensive agreement to foster co-operation in Ha Noi.

Under the agreement, the group will choose the bank's various financial services for its own projects in the parent and unit companies as well as its customers. The CEO group will also explore options for BIDV to co-invest in its projects.

The bank has provided different funds for the group's real estate projects, especially ones in Ha Noi.

Currently, the bank has loaned VND290 billion (US$13.8 million) to Sunny Garden City while it has agreed to give Government-supported credits to Bamboo Garden resettlement houses, and arranged capital for projects in Phu Quoc and Ha Nam.

Doan Anh Sang, Deputy General Director of BIDV, said his bank made a strong commitment to the CEO group because it had proved to be a successful investor amid the financial crisis, in which unprofessional investors were left behind.

The bank will also support the CEO group in capital management, risk management and insurance. The bank will help the group connect with Japanese investors from its network. Besides, BIDV has also offered favourable loans to buyers of CEO's real estate projects.

Established in 2001, the CEO group has worked mostly in real estate with 16 projects nationwide and education with Dai Nam College.

The CEO group representative said that the group was working hard to have its stocks listed in the local stock exchanges this year in order to best serve the shareholders and customers. — VNS

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