Vietcombank and Vietnam Railways (VNR) on Thursday signed a comprehensive strategic co-operation agreement in Ha Noi, marking an important step in the development of their relationship.

Vietcombank will supply comprehensive financial solution packages, from banking services such as funding projects and mobilisation capital, international payment and money flow management to other services including reasonably priced, high-quality personal lending.

Chairman of Vietcombank Nghiem Xuan Thanh said the bank hoped to become a comprehensive partner of VNR in the fields of banking finance, payment, transaction management, retail service and project investment contracts.

At the signing ceremony, the two sides also inked a credit contract, in which Vietcombank committed a long-term credit package worth more than VND260 billion (US$11.13 million) to help Saigon Railway Transport JSC, an affiliate of VNR, buy 30 passenger carriages and 50 goods carriages.

VNR has this year targeted revenue growth of more than 8 per cent over last year’s figure of VND8.17 trillion, and is aiming for after-tax profit of VND158 billion, VND4 billion higher than last year’s. It hopes to raise the average income of employees by 10 per cent. — VNS