Vietinbank signs US$139 million loan agreement with foreign banks
(VOV) - The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) on December 5 signed a contract with 5 Taiwan banks for a US$139 million syndicated loan.
They include Mega International Commercial Bank, Far East National Bank, Hua Nan Commercial Bank, the Shanghai Commercial and Savings Bank.
The transaction was arranged by Cathay United Bank of Cathay Financial Corporation which has branches in Viet Nam.
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Vietinbank Director General Le Duc Tho spoke highly of the cooperation between VietinBank and five Taiwan banks, saying that this opens more cooperative opportunities between the Vietnamese bank and its partners. Signing the loan contract will help raise Vietinbank’s credibility on the international financial market and show international investors’ trust in it.
Tho added that the loan will help improve VietinBank financial resources to meet businesses’ increasing demand for credit.