Shinhan Bank and IDICO signed a strategic partnership agreement in HCM City on November 26. — Photo coutersy of Shinhan Bank

Shinhan Bank Vietnam has signed two strategic partnership agreements with the Viet Nam Urban And Industrial Zone Development Investment Corporation (IDICO) and St. Mary’s International School and Jello Academy.

Under the former, the Korean bank will provide financial products and services with special offers to the company's employees.

The two parties will also provide credit to companies in need of funding for investment in industrial parks managed by IDICO.

The bank will provide working capital loans to IDICO as well as for developing in industrial park infrastructure and other works.

Shin Dong Min, CEO of Shinhan Bank in Viet Nam, said IDICO is a major player in the development of industrial parks, hydropower, transportation, housing, urban development, construction, and installation across the country.

“The partnership will be a valuable opportunity for both parties to take full advantage of our financial powers and partner networks as well as open up new chances to support the growth of firms in IDICO’s eco-system.”

Nguyen Van Dat, general director of IDICO, said the co-operation is likely to boost his company’s growth, strengths and reputation.

Under the agreement with St. Mary and Jello Academy, there will be special programmes for students, and modern financial products and banking services will be offered to teachers and staff.

They will launch a programme called “Special Tuition Fee Finance” for St. Mary’s International School and a programme called “Special Finance” for Jello Academy to offer zero interest loans to students and their parents and financial services to teachers and staff of the schools.

The bank and St. Mary's will implement the ‘School Banking’ integrated tuition collection system for paying tuition fees conveniently and safely. — VNS