Foreign banks offer syndicated loan to VietinBank
(VOV) - The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) in Hanoi on September 10 inked an agreement to borrow US$50 million from four foreign partners.
The four lenders are Cathay United Bank, Mega International Commercial Bank, Far East National Bank and Hua Nan Commercial Bank.
The syndicated loan will enable VietinBank to increase its capital capacity for national economic development.
VietinBank General Director Le Duc Tho highly said the cooperation between Vietnamese bank and four foreign banks will give a boost to the development of his bank and the country’s financial and banking market alike.
Cathay United Bank is a wholly owned subsidiary of Cathay Financial Holding Company, the largest financial holding company in Taiwan.