On 27/02/2014, in Ninh Binh, Joint Stock Commercial Bank for Investment and Development of Vietnam - Tay Ho Branch (Tay Ho BIDV) and Ninh Binh Nitrogenous Fertilizer Co., Ltd (member of Vietnam National Chemical Group - Vinachem) signed the Limit short-term credit contract 2014 with total value of 1,200 billion VND and Medium-term credit contract sponsoring the plan for standby material procurement (in 2 years) with total loan in VND equivalent to 6.4 million USD.

With the increase of short-term credit limit from 800 billion VND to 1,200 billion VND, BIDV continues to be the largest Commercial Bank that grants the short-term credit limit to the production and business of Ninh Binh Nitrogenous Fertilizer Co., Ltd. Especially, the medium-term loan of 6.4 million USD provided timely the capital to sponsor the plan for standby material procurement in order to help Ninh Binh Nitrogenous Fertilizer Factory has stable, continuous operation and its product reaches high quality. The two above credit packages are the evidence for the development of credit relation between BIDV and Ninh Binh Nitrogenous Fertilizer Co., Ltd.

​Besides, BIDV has been providing the non-credit products to meet the demands of Ninh Binh Nitrogenous Fertilizer Co., Ltd such as: Factory property insurance through BIDV Insurance Corporation (BIC), retail banking products and services serving the demands of the cadres and employees including automatic salary payment, issuance of ATM card, VISA card, life insurance... In addition to the specific preferential policies for Ninh Binh Nitrogenous Fertilizer Factory, BIDV also has the programs to support for the operation of the Agencies, distributors of Ninh Binh Nitrogenous Fertilizer product nationwide such as: Lending at preferential interest rate, support 100% of remittance charges for Ninh Binh Nitrogenous Fertilizer Factory...

With the preferential lending interest rate for operation in the agricultural - rural fields, the short-term credit capital sources of BIDV contributed to the smooth production and business of Ninh Binh Nitrogenous Fertilizer Factory in the past time.

Known that in 2013, Ninh Binh Nitrogenous Fertilizer Co., Ltd reached the good result after over one year of official operation. Especially, it is the first time the Factory Leadership brings the operating capacity of the factory to exceed the design capacity and reached 105% and direct to operate continuously at high load in 2014. This is the basis for the Factory Leadership to establish the revenue plan of 4,680 billion VND in 2014 profitable business.

Besides the development of the Factory, BIDV is always an important strategic partner of the Company, commits to accompany, cooperate in a long-term and sustainable way through the support of resources in order to promote the strengths of each party in the business fields, in accordance with the sustainable development orientation of the parties.

For more information, please contact:

Please contact for detailed information:

Bank for Investment and Development of Vietnam JSC.

Tel: 19009247 or visit website www.bidv.com.vn for more information.