On August 07, 2015, BIDV signed the USD105 Million - 5 year Syndicated Loan Facility Agreement arranged by Cathay United Bank Co., Ltd.

This syndicated Loan arranged by Cathay United Bank and financed by 11 foreign banks is known as one of the longest and biggest international syndications ever offered by overseas banks to a Vietnamese commercial bank during the past years. 11 foreign banks participating in this syndication include: Cathay United Bank, Grand Capital International Limited, Mega International Commercial Bank, Chang Hwa Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank, Taishin International Bank, Sunny Bank, The Shanghai Commercial & Savings Bank, Land Bank of Taiwan, Far Eastern International Bank.

At the Signing Ceremony, speaking on behalf of Cathay United Bank, Mr. Chang-Ken Lee, President & Chief Executive Officer of Cathay United Bank and President of Cathay Financial Holdings Co., Ltd., affirmed that it had been a great honor for Cathay United Bank Co., Ltd. to be long-term partner of BIDV. He also added that as a leading Taiwan bank with a strong presence in Vietnam, Cathay United Bank appreciated the opportunities they had to work with BIDV, especially in successful arrangement of syndicated loans.

Mr. Tran Bac Ha, BIDV’s Chairman of BOD conveyed his sincere thanks for the cooperative efforts and professionalism of counterparts in Cathay United Bank Co., Ltd. during the arrangement of international syndicated loans for BIDV, and asserted his strong belief that the two banks would continue to successfully cooperate to proceed new syndications in the coming time.Being a top financial institution with the leading role in serving the national economic and social development projects, BIDV has always focused on attracting funding to meet the country’s needs of finance, in which offshore funding, especially commercial loans from foreign financial institutions with reasonable costs, have been considered an important channel. With its credibility and financial capability, BIDV has been continually offered credit limits by international financial institutions with amount and tenors increasing over the years. This USD105 million – 5 year syndicated loan will provide BIDV with stable supplementary funding of foreign currencies, contributing significantly to BIDV’s capabilities not only to supply loans for projects of national economic development, but also to enhancing the bank’s prudential ratios in accordance with the SBV’s regulations. This long-term loan with reasonable costs has proved BIDV’s wide accessibility to overseas mid-long term funding and asserted BIDV’s credibility in international financial market.

The Signing Ceremony was held in Da Nang, during BIDV’s Appreciation events in celebration of the bank’s 20 years transition into a commercial bank model. On the same day, BIDV and CUB also signed the Memorandum of Understanding on Comprehensive Cooperation and the Remittance Agreement. BIDV is the leading commercial bank in Vietnam mainly owned by the Government with total asset of USD35 billion in May 31, 2015, operating in different areas of banking, insurance, securities, investment, etc. It has around 1000 transaction points in all provinces of the country along with overseas subsidiaries and representative offices. In addition, BIDV has set up correspondent relationship with more than 1,700 banks and branches from 122 countries and regions around the world.

Cathay United Bank is one of the biggest banks in Taiwan, with its holding company, Cathay Financial Holdings, the largest financial holdings in Taiwan. It has a network of 165 branches in Taiwan, 15 foreign branches and representative offices. It has a total asset and equity of USD70.7 billion and USD4.62 billion respectively as at December 31, 2014.

For more information, please contact:

Bank for Investment and Development of Vietnam, JSC.

Financial Institutions                                                

Email: bandctc@bidv.com.vnWebsite: www.bidv.com.vn