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SMTB is the largest trust bank in Japan with total assets of 59,479 billion yen (equivalent to USD585.4 billion) and total shareholders’ equity of 2,022 billion yen (equivalent to USD19.9 billion) as of 30 September 2016. BIDV entered into a strategic partnership with SMTB in 2013. Accordingly, BIDV and SMTB have partnered to research and develop business projects, as well as cooperating in training and technology transfer.
Following nearly two years of market research and opportunity seeking, both parties realised the strategic partnership by signing a cooperation agreement on financial leasing on 29 April 2016 in Hanoi. Under the agreement, BIDV transferred its 49 percent ownership of charter capital of BLC to SMTB, converting BLC into BSL, raising the company’s charter capital from VND448 billion to VND896 billion that helps improve its financial capacity to meet the needs of business development in the upcoming period.
By adopting the new business model and benefiting from BIDV in utilising its wide network to implement a cross-selling model, and from SMTB in establishing relationships with suppliers of Japanese leading brands, BSL will launch its competitive financial leasing products to the market. Both banks also bring to the company technological know-how, capital, and an extensive Japanese/Vietnamese customer base.
BSL is the first leasing company in Vietnam to apply the joint venture model between a domestic commercial bank and a foreign financial institution. The launch of BSL will add an important financial product to BIDV’s product portfolio, enabling the system to better satisfy the diverse needs of customers in credit, insurance, financial leasing, and securities.
For more information, please contact:
Branding and Public Relations
Bank for Investment and Development of Vietnam JSC (BIDV)
Tel: +844. 22205256; Fax: +844. 22225316
© 2018 Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)
BIDV Tower, 194 Tran Quang Khai, Hoan Kiem, Ha Noi
Receiving phone number: 19009247 (Personal)/ 19009248 (Business)/(+84-24) 22200588 - Fax: (+84-24) 22200399
Outgoing phone number: 02422200588 - 0763238588 - 0784132388 - 0842152355 - 0822808588 - 0764263180 - 0764860580 - 0947591080 - 0398079599 - 0398127288 - 0382512188 - 0357823588
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