Vietinbank signs $50-million loan agreement with Taiwan banks

tohang

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on September 10 signed a contract with four banks from Chinese Taiwan for a US$50-million syndicated loan.

Vietinbank's General Director, second from left, poses with representatives of partnering banks at the contract singing ceremony. – Photo www.vietinbank.vn

HA NOI – The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on September 10 signed a contract with four banks from Chinese Taiwan for a US$50-million syndicated loan.

The Taiwanese partners are Mega International Commercial Bank, Far East National Bank, Hua Nan Commercial Bank and Cathay United Bank. The transaction was arranged by Cathay United Bank of Cathay Financial Corporation which has branches in Viet Nam.

The loan will help replenish Vietinbank's foreign currency resources, helping it to meet the demand of domestic businesses better.

Speaking at the signing ceremony, VietinBank's General Director Le Duc Tho said that it was not merely a joint business transaction between his bank and the partners, but was a promise of further international cooperation for Viet Nam's financial market in the future. The bank said it was committed to using the financial resources for the right purpose. – VNS


  • Share:

see also

Vietcombank named most valuable brand in Việt Nam

Vietcombank named most valuable brand in Việt Nam

Vietcombank has become the most valuable brand in Việt Nam in 2024, according to a recently released report of Forbes Việt Nam.
Ocean Bank officially renamed Modern Bank of Vietnam Limited (MBV)

Ocean Bank officially renamed Modern Bank of Vietnam Limited (MBV)

The Ocean Commercial One Member Limited Liability Bank (Ocean Bank) has officially rebranded as Modern Bank of Vietnam Limited (MBV) as of December 18, 2024.
Vietnamese banks at turning point in 2025: summit

Vietnamese banks at turning point in 2025: summit

The summit drew nearly 200 experts, banking leaders, and representatives from financial and technology organisations across ASEAN, alongside hundreds of staff from major industry enterprises.
Lending interest rates this year reduced by 0.44 pp compared to 2023

Lending interest rates this year reduced by 0.44 pp compared to 2023

According to SBV’s Governor Nguyễn Thị Hồng, credit growth has d strong momentum for the economy to recover and develop as it continues to face challenges.
Many banks increase deposit interest rates in the year-end period

Many banks increase deposit interest rates in the year-end period

In early December, savings interest rates diverged, with some banks raising rates to attract capital, while others lowered them to cut costs, a trend experts predict will intensify.