HDBank and the Saigon Union of Trading Co-operatives (Saigon Co.op) have signed a comprehensive strategic cooperation contract to strengthen their mutually beneficial partnership.

It is part of a comprehensive cooperation agreement between Sovico Group and Saigon Co.op.

The former’s subsidiaries like HDBank, Vietjet Air, HDSaison and Phu Long Real Estate JSC and Saigon Co.op’s member units like Saigon Co.op Investment Development JSC (SCID) and Saigon Co.op Distribution One Member Limited Company (SCD) are part of the deal.

To HDBank, this cooperation marks a link-up between a consumer finance bank that always prioritises developing products and services for small- and medium-sized enterprises and individual customers and the country’s leading retailer.

The two parties pledged to become each other's strategic partner in the process of operation and development to effectively exploit each other’s business network and enhance their competitiveness.

HDBank will offer modern and full-package banking services to Saigon Co.op, including incentive products and services to strategic partners, credit cards to staff, credit for expansion of its supermarket network, working capital, consumption loans, and cooperation in developing franchising and promotions.

Saigon Co.op for its part is committed to using HDBank’s services and funding for its suppliers’ business and developing HDBank-Vietjet Air-Saigon Co.op co-branded cards.

The two sides will prioritise using and supporting of the development of each other's products and services with preferential policies.

The deal creates a foundation for HDBank and Saigon Co.op to expand their markets, improve service quality, increase benefits for nearly 10 million customers of Saigon Co.op and eight million customers of HDBank, thereby enhancing the business performance of both. — VNS