Hanoi, 5 November 2015 - BIDV and China Development Bank Corporation (CDB) signed the USD200 million 5-year Loan Facility Agreement under the witness of Vietnamese General Secretary Nguyen Phu Trong and Chinese President Xi Jinping,

 

​The large and long tenor loan with reasonable funding cost provides BIDV with more financial resources to meet medium and long-term capital demand for Vietnam’s economic development projects. The loan also showed CDB’s trust in BIDV’s financial capability and creditability, consolidating the cooperation of two banks, contributing to develop the great cooperation between Vietnam and China.

As the leading bank in Vietnam, playing the key role in important economic projects of the country, BIDV always pays great attention to creat favourable funding sources to finance such projects. Among which, BIDV is actively seeking for offshore fundings, including commercial loans from financial institutions with reasonal funding cost. With sound capability and creditability, BIDV continues to be extended good credit lines and provided increasing loan amounts over the years. This loan from CDB also helps improve prudential ratios of BIDV in accordance with the State Bank of Vietnam regulations.

The same day, at BIDV headquarters, under the witness of the State Bank of Vietnam, Mr. Tran Bac Ha – Chairman of BIDV and Mr. Hu Hoai Bang – Chairman of CDB signed Memorandum of Understanding on Comprehensive Cooperation (MOU).

Under the MOU, the two Parties have agreed to promote cooperation in areas which they have advantages, such as project co-financing, bank to bank loans, financing the other party’s customers, customer referrals, introducing opportunities for investment in Vietnam to Chinese investors, international payment and trade finance, foreign exchange and capital market, experience exchange, training and participation  in China-ASEAN Inter-Bank Association (CAIBA).  

CDB is one of the leading banks in China, established in 1994 with total assets of USD1,662 billion. The bank was restructured into a joint-stock corporation and established wholly and primarily owned subsidiaries includingCDB Capital and CDBSecurities, looking forwards to forming a financial holding group operating in many areas including investment, lending, bonds, leasing and securities. As a development bank, CDB plays a significant role in financing infrastructure, basic and pillar industries of China and is experienced in financing domestic and foreign large projects.

BIDV is the leading commercial bank in Vietnam primarily owned by the State, pioneering in serving national socio-economic development projects. As of end September 2015, the bank had total asset of USD36.4 billion. The bank operates in different areas of banking, insurance, securities, investment, etc. with around 1000 transaction points in all provinces throughout the country as well as overseas subsidiaries and representative offices. In addition, BIDV has set up correspondent relationship with more than 1,700 banks and branches in 122 countries and regions around the world.

As the leading banks in the two countries, especially in the investment and development sector, BIDV and CDB have set up good relations in recent years. The signed MOU helps bring the two banks’cooperation to new height for catching up with upcoming business opportunities in the context of Vietnam’s deeper integration into the global market.

For more information, please contact:

Bank for Investment and Development of Vietnam JSC

Financial Institutions                                                     

Email: bandctc@bidv.com.vn

Website: www.bidv.com.vn