VPBank to cooperate with VietinBank in providing international payment and trade finance services
On 4th November afternoon, in Hanoi, VPBank has signed an agreement with VietinBank to provide international payment and trade finance (IP&TF) services.
Attending the signing ceremony were VPBank’s Vice CEO - Mr. Vu Minh Truong, Vietinbank’s Vice CEO – Mr. Nguyen Duc Thanh, and Ms. Phan Thi Hong Hai – Director, Main Transaction Office.
In recent years, together with the continuous improvement of products and services for personal customers and enterprises, VPBank also focuses on the development and diversification of products and services for institutional financial clients, particularly on providing IP&TF services of high quality for customers with strong financial strength and reputation.
VPBank’s Vice CEO - Mr. Vu Minh Truong said: In the last years, VPBank has made strong growth, and achieved impressive business results. Currently the Bank's total assets have increased to VND 113,000 billion. The sales of international payment in the first 6 months of 2013 have exceeded the total sales of 2012. VPBank has cooperated with VietinBank effectively on many areas and been given limits for some areas such as: deposit limit of VND 1,000 billion, balance of foreign currency forward of US$ 130 million, balance of foreign currency spot of US$ 20 million. Especially, VietinBank has provided international payment limit of US$ 20 million for VPBank. Besides, customers will enjoy many privileges when opening L/C.
Speaking at the ceremony, Vietinbank’s Vice CEO – Mr. Nguyen Duc Thanh also emphasized that “The signing ceremony will create the foundation for a stronger relationship between two sides, contributing to bringing economic effectiveness for not only VietinBank but also the community and creating significant growth for the banking and finance market in Vietnam.”
After the signing of framework agreement, two parties will proactively cooperate to develop new products such as Verification and Issuance of L/C ; Guarantee ; Discounts ; Trade finance contracts; etc to implement in practice,  improve the collaborative efficiency.
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