Japan's SMBC, Vietnam Bank Sign US$100 Mln Credit Deal
Japan’s Sumitomo Mitsui Banking Corp (SMBC) and the state-owned Bank of Investment and Development of Vietnam (BIDV) Wednesday [November 27] in Tokyo signed a credit agreement worth US$100 million, local Young People newspaper reported Thursday.
Under the deal, SMBC and Australia-New Zealand Banking Group (ANZ) will provide the 3-year loan to BIDV in December of the year to disburse for its long-term domestic projects.
Previously, SMBC provided US$50 million for the Vietnamese bank to carry out a high-class real estate project in Hanoi.
SMBC also said it will buy a 15 per cent stake in Vietnam Export Import Commercial Joint Stock Bank, the country's third largest private bank, for 225 million dollars to become Vietnamese bank’s largest shareholder.
SMBC has opened its branch in HCMC and rep office in Hanoi. (Securities Investment)
Vietnamese
