Vietcombank and Vietnam Construction Bank (VNCB) will jointly manage and operate under a comprehensive co-operation agreement signed on Friday. — Photo vneconomy.vn

HA NOI (Biz Hub) — Vietcombank (VCB) and Vietnam Construction Bank (VNCB) will jointly manage and operate under a comprehensive co-operation agreement signed on Friday in HCM City.

According to the agreement, Vietcombank will provide VNCB with capital support. It will also help the construction bank manage risks, supervise the organisation and develop the information technology system.

Both sides will assist each other in implementing monetary transactions, as well as share information related to research and development, services and customers.

"This strategic co-operation between us is an important opportunity for VNCB to restructure successfully and grow securely and sustainably. It is also a new opportunity for Vietcombank to tighten its business links with a domestic partner," the banks said in a joint news release.

The VNCB was established from Trust Bank in May 2013. The Trust Bank was in operation for 23 years with a charter capital of VND3 trillion, or US$142.85 million.

The State Bank of Viet Nam has appointed new officials for the VNCB after three former officials were arrested on Tuesday for allegedly violating State regulations on economic management. — VNS