Military Bank to Finance Vinaconex VND1.5T This Year
Military Commercial Joint Stock Bank (Military Bank) will lend VND1.5 trillion (US$78.9 million) to Vietnam Construction Import-Export JS Corporation (Vinaconex) in 2010.
Under a deal signed between two sides on June 1, the loans aim to meet the increasing capital demand for major projects of Vinaconex, one of leading realty firms in Vietnam.
Military Bank and Vinaconex also pledged to boost comprehensive cooperation in the areas of infrastructure, industrial production, construction material, water supply, realty and insurance.
In 2010, Military Bank expects a pretax profit of VND2 trillion, total deposits of VND75 trillion and outstanding loans of VND40.5 trillion. It will also raise registered capital to VND7.3 trillion. (Urban & Economy)
Vietnamese
