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Local banks look to cooperate with foreign partners (19/10)
06/08/2010 - 91 Lượt xem
The Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) and its strategic partner - the Australia and New Zealand Banking Group Limited (ANZ) - will launch a credit card joint venture later this year.
Dang Van Thanh, Chairman of the Sacombank Board of Directors, said the joint venture is expected to help Sacombank and ANZ, which now holds a 10 percent stake in the Vietnamese bank, take advantage of each other’s transaction networks and technology.
Sacombank and the International Finance Company (IFC), another shareholder of the bank, have rolled out a series of programmes. Recently, Sacombank and IFC signed a contract on loans for home mortgages.
Ho Huu Hanh, deputy director of the State Bank of Viet Nam ’s Ho Chi Minh brand, said the cooperation between financial institutions at home and abroad will flourish in the near future, contributing to the development of financial retail services.
The Asia Commercial Bank (ACB) chose the UK Standard Chartered Bank as an agent to issue 2.25 trillion VND (140 million USD) worth of bonds. Standard Chartered planed to issue the remaining 4.25 trillion VND (265.5 million USD) in bonds for ACB by the first quarter of 2008.
After buying 10 percent of the Southern Bank’s stake, the Singapore-based United Overseas Bank Limited (UOB), the Singaporean bank sent experts to help its Vietnamese partner with personnel training in developing products and banking services.
The Eastern Asia Commercial Bank (EAB) has not been left behind when it signed a contract to develop services with Citibank - a leading banking group from the US .
Citibank will assist EAB in develop human resources for retail banking and enterprise-targeted services, and expand EAB credit card services in the US . In return, EAB will help with Citibank’s banking services in Viet Nam.
Source: VNAgency.
