BIDV and Raiffeisen Bank International AG (RBI) signed a memorandum of understanding on comprehensive cooperation (MOU) on 15 October in the witness of the Vietnamese Prime Minister Nguyen Xuan Phuc and leaders of ministries of Vietnam and Austria.

The signing took place in the framework of Vietnam – Austria Business Forum held during the official visit of the Vietnamese Prime Minister to the Republic of Austria.

Under the deal, BIDV and RBI agreed to further bolster their long-term cooperation ties, with a focus on accounts, international payment, trade finance, lending, treasury, derivatives, project finance as well as cooperation with respective overseas presences of the two banks, aiming to serve their customers in Vietnam, Austria and Central and Eastern Europe.

The same day, Mr. Bui Quang Tien, member in charge of the board of directors of BIDV and his senior executives paid a working visit to the headquarters of Raiffeisen Bank International AG (RBI).

RBI founded in 1927 is headquartered in Vienna, Austria. The bank’s total assets as of 31 December 2017 reached USD162 billion. RBI is Austria's second-largest bank and one of the country’s leading commercial and investment banks in the country. RBI established its representative office in Vietnam in 1997 and is the sole Austrian bank to have its presence in Vietnam.