Viet Nam Posts and Telecommunications Group (VNPT) and Southeast Asia Joint Stock Commercial Bank (SeABank) has signed a strategic and comprehensive cooperation agreement to exploit and promote strengths in the fields of operation and business.

Under the agreement, VNPT and SeABank pledge to create favourable conditions for each other in the hope of developing business efficiency and increasing competitive capacity from the two sides.

Through cooperation programmes, the two sides will promote activities with the aim of enhancing connections and improving business operations.

SeABank commits to provide VNPT and its subsidiaries and affiliates with the highest quality banking services such as capital mobilisation, credit, automatic overdrafts, underwriting, letters of credit, other non-credit services, and corporate finance advisory services.

In addition, SeABank gives priority to the use of telecommunications, information technology and other services provided by VNPT such as transmission services, electronic invoices, VNTracking and leasing data centre infrastructure.

According to SeABank’s general director Le Thu Thuy, SeABank strives to diversify its products, improve service quality, expand distribution channels, especially in cooperation with major partners to cross-sell products and services, benefiting both sides.

Prior to this, the State Bank of Viet Nam approved the acquisition and transfer of Post and Telecommunication Finance Company Ltd (PTF) between VNPT and SeABank. This is an important step in SeABank’s retail strategy to promote the development of consumer finance and diversify products and services.

Pham Duc Long, general director of VNPT, said, with its current strengths, VNPT is confident in having enough experience and capacity to provide comprehensive information technology solutions and services to meet the needs of SeABank’s IT application development. — VNS