Vietinbank signs $50-million loan agreement with Taiwan banks

Thursday, Sep 11, 2014 14:55

Vietinbank's General Director, second from left, poses with representatives of partnering banks at the contract singing ceremony. – Photo www.vietinbank.vn

HA NOI – The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on September 10 signed a contract with four banks from Chinese Taiwan for a US$50-million syndicated loan.

The Taiwanese partners are Mega International Commercial Bank, Far East National Bank, Hua Nan Commercial Bank and Cathay United Bank. The transaction was arranged by Cathay United Bank of Cathay Financial Corporation which has branches in Viet Nam.

The loan will help replenish Vietinbank's foreign currency resources, helping it to meet the demand of domestic businesses better.

Speaking at the signing ceremony, VietinBank's General Director Le Duc Tho said that it was not merely a joint business transaction between his bank and the partners, but was a promise of further international cooperation for Viet Nam's financial market in the future. The bank said it was committed to using the financial resources for the right purpose. – VNS


Comments (0)

Statistic