The Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank) signed a syndicated loan agreement worth US$100 million with eight foreign financial institutions.

The institutions are Deutsche Bank AG – Singapore branch, Commerzbank AG – Luxembourg branch, Erste Group Bank AG, E.SUN Commercial Bank Ltd, CTBC Bank Co Ltd Singapore, First Commercial Bank – Overseas branch, State Bank of India-Singapore and Taishin International Bank.

The signing of the agreement has not only asserted the prestige of Vietinbank on the international financial market but also reflected the confidence of investors, as well as international financial institutions, Vietinbank Deputy General Director Tran Minh Binh said.

With this $100 million, Vietinbank pledges to better serve the demand for capital of Vietnamese enterprises, he added. — VNS