Shinhan Bank Vietnam Limited and Khoi Nguyen Education Investment and Development Joint Stock Company (KNE) have signed a strategic and comprehensive partnership agreement to provide modern banking services and products to students, their parents, and teachers and staff at schools in the KNE network.

Under the agreement, the two parties will jointly provide low-interest credit offers to students’ parents to have more financial ownership in making investments in their children's education by advancing tuition fees.

Shinhan Bank will also issue credit cards with zero per cent installment payments and payment terms of six to nine months to enable students’ parents at KNE schools to make annual tuition payments, besides providing other exclusive offers to schools and entities in the KNE network, including payroll services, preferential personal loans to teachers, co-branded credit cards and debit cards.

In addition, it is considering granting credit to KNE and its network schools for further investments in facilities and educational equipment, and development of new educational projects.

KNE will support the bank in promoting the “School Banking” tuition collection product, which receives tuition payments in the KNE school network, and Shinhan Bank's online payment website, where tuition payments can be made conveniently and safely.

KNE will encourage its school communities to use the bank’s other services and give the bank’s clients special offers related to KNE education services.

Kang Gew Won, Deputy General Director of Shinhan Bank in Vietnam, said: “The strategic partnership agreement will create a foundation for close association and co-operation for sustainable development between Shinhan Bank and KNE.

“Within the framework of the agreement, Shinhan Bank will have the opportunity to distribute its financial services to the KNE system, teachers, students and their parents. In contrast, KNE also has the chance to have customized solutions and good financial partnership for the future. Given the potential and competitive advantages of each party, I hope that we can open up valuable opportunities for both KNE and Shinhan bank. Moreover, I strongly hope it can be helpful to students and the future of the society."

Trinh Quang Dong, General Director of KNE, said: "I believe that with rich experiences, high trust, dedication and quality services that are widely recognized in Viet Nam, Shinhan Bank will become a long-term and popular partner with KNE's educational community. We are very proud of this important movement in the partnership between the two sides, opening up a new journey for further cooperation. I hope our students and parents in the International School system (CISS) and other KNE members as well as Shinhan Bank customers will enjoy more practical benefits through this partnership programme." —VNS