Vietcombank secures deal with Singapore Manufacturing Federation
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inked a cooperation agreement with the Singapore Manufacturing Federation (SMF) on October 17.
Scene at the signing ceremony (Photo: vietcombank.com.vn)
Hanoi (VNA) - The Joint Stock Commercial Bankfor Foreign Trade of Vietnam (Vietcombank) inked a cooperation agreement withthe Singapore Manufacturing Federation (SMF) on October 17.
Under the pact, the two will work together to capitalise ontheir respective potentials and bring benefits to their customers.
Vietcombank Deputy Director General Dinh Thi Thai said the dealwill help elevate the sides’ partnership to new heights.
SMF President Douglas Foo said he believes with a strongpartner like Vietcombank, SMF members will be facilitated in payments, cashmanagement, and business finance.
As part of the signing ceremony, Vietcombank and SMF held a networkingmeeting for loyal Vietcombank customers and Singaporean businesses that plan toinvest in Vietnam.
Founded in 1932, the SMF has more than 3,000 members invarious fields, such as real estate, electricity, food and beverages, energy,and chemicals.
Vietcombank was the first Vietnamese bank to open arepresentative office in Singapore, supporting the operations of financialinstitutions and businesses in the country that wish to invest in Vietnam.
In 2016, the bank’s total assets reached 787.9 trillion VND(34.7 billion USD), up 16.8 percent year-on-year, and reported pre-tax profitsof 8.52 trillion VND (375 million USD).-VNA
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted more than 5.05 trillion VND (222 million USD) in pre-tax profit in the last six months, up 20.5 percent year on year and equivalent to 53.2 percent of the target for 2017.
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Scene at the signing ceremony (Photo: vietcombank.com.vn) 
