Citibank and INGbank will be in charge of arranging capital for the Nhon Trach 3 and 4 thermal power plants, according to a recent agreement signed between PetroVietnam Power Corporation (PV Power) and the two foreign banks.
Banks and insurance companies are ramping up co-operation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
The Asian Development Bank (ADB), through its Trade Finance Programme (TFP), has signed an agreement with Citibank to further support trade across Asia.
Citi has announced that it plans to open more South Korea desks this year to provide institutional banking services to South Korean multi-national clients in Viet Nam and across Europe.