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Vietnam, S. Korean banks to cooperate

Vitenam’s HDBank has signed an agreement for strategic cooperation with South Korea’s HanaBank. Under the agreement, the two banks will coordinate to assist clients and provide them with information and consultancy about the business and investment environment in Viet Nam and the country’s laws on foreign investment in finance and banking sectors. They will share information about the industrial sector in South Korea and Vietnam, introduce potential industrial clients to each other, and co-operate for human resources training and other exchanges. The cooperation is expected to create favourable conditions for their development in areas like funds swap, financing each other’s lending activities, syndicated loans and other banking services like remittances, international payments, trade funding, foreign currency transactions, card services, and issue of co-branded credit cards.

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