The Small and Medium sized Enterprise Development Fund (SMEDF) and the Orient Commercial Joint Stock Bank (OCB), signed a framework agreement on indirect lending on Tuesday.
Orient Commercial Joint Stock Bank wants to become one of the top five private lenders in the coming years, its chairman, Trinh Van Tuan, told the annual general meeting in HCM City on Wednesday.
The Orient Commercial Joint-Stock Bank reported pre-tax profit of over VND1.1 trillion ($47.4 million) in the first half on net revenues of VND1.7 trillion ($73.3 million).
Orient Commercial Joint Stock Bank (OCB) announced on Wednesday that its local and foreign currency counterparty risk ratings and counterparty risk assessment have been upgraded to Ba3 by Moody''s Investors Service.