Incombank, Eden Sign US$18.8Mln Credit Limit Contract
The Industrial and Commercial Bank of Vietnam (Incombank) and the Eden Joint Stock Company have signed a credit contract in which the lender pledged to provide credit limit worth VND300 billion (US$18.7 million).
Eden said it will use the credit limit to develop and invest in real estate projects via its property trading affiliate, Eden Real.
Eden Real is known as manager of 11 big real estate projects, villas and luxurious residential, tourist and entertainment areas.
Incombank will also help provide Western Union expressed money transfer service to Eden via the bank’s 450 branches and transaction offices nationwide.
Eden has got permission from the State Securities Commission to issue new shares for dividend payout. However, no information about the issued volume was revealed. (Investment, SSC, Banking Times)
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