VPBank and Viet Nam State Treasury sign a co-operation agreement. — Photo courtesy of VPBank

Viet Nam Prosperity Joint-Stock Commercial Bank (VPBank) and Viet Nam State Treasury (VST) on Monday signed a bilateral co-operation agreement.

Accordingly, VPBank is one of the first commercial banks co-operating with VST in State budget collection and collection orders with an aim to enhance administrative reform and non-cash payments to better serve businesses and people in implementing duties.

VST would co-operate with VPBank to open and use an account system for State budget collection at the bank. The two sides would exchange information and data relating to State budget collection. State budget revenues through VPBank will be recorded directly into the system of treasury-collecting accounts at VPBank. At the same time, information on collection will also be transferred to the General Department of Taxation and the General Department of Customs quickly, safely and conveniently.

The agreement once again showed that the State agencies have assessed VPBank meets all conditions on safety, advanced information technology platforms and connectivity, especially for digital technologies to enhance automation and processing transactions across VPBank's network to customers. The co-operation between VST and VPBank would help the bank effectively use resources to improve payment service quality for customers, opening new utility payment channels.

With a network of nearly 300 transaction offices nationwide, VPBank is ready to co-operate with VST in State budget collection. — VNS