Vietinbank gets foreign syndicated loan of US$200 million

Friday, Mar 11, 2016 18:21

A transaction office of Vietinbank. — Photo
HA NOI (Biz Hub) — Vietinbank signed a syndicated loan worth US$200 million with 18 international banks in Taipei on March 3.

The foreign currency loan, led by BNP Paribas and Taipei Fubon Commercial Bank, will provide the bank with funds for production and business activities of enterprises, Vietinbank said in a statement on its website.

At the end of 2015, Vietinbank's total assets valued at VND779 trillion (US$34.9 billion), a 17.8 per cent increase over 2014. Its outstanding loan reached VND674 trillion, growing 24.2 per cent compared with 2014.

The bank earned a pre-tax syndicated profit of VND7.36 trillion in 2015, apart from the return on average equity (ROAE) and return on average assets (ROAA) which were 10.2 per cent and 1.0 per cent, respectively.

According to the latest report of Brand Finance on Banking 500 – on the world's most valuable banking brands, Vietinbank made the top 400, climbing from the 437 to the 379, making its global brand value of $249 million. It was in the list in 2012, 2013 and 2015.

The loan was given by banks including Commerzbank AG in Luxembourg, Taiwan Cooperative Bank, BDO Unibank, Inc. and Chang Hwa Ltd., in addition to Land Bank of Taiwan in Singapore, Bank of Taiwan, Far Eastern International Bank and Jih Sun International Bank, Ltd. The other banks were Sunny Bank Ltd., Taishin International Bank, and the Export-Import Bank of the Republic of China. — VNS

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