Hanoi, 23 February 2017 - The Bank for Investment and Development of Vietnam JSC (BIDV) and The Bank of Fukuoka signed a memorandum of understanding (MOU) regarding cooperation to support Japanese firms with their business dealings in Vietnam. This is the 28th Japanese bank that BIDV has signed an MOU with in this field.

​In the terms of the MOU, BIDV and the Bank of Fukuoka will cooperate to provide banking services and products to Fukuoka’s Japanese customers for their business dealings in Vietnam. The two banks will coordinate to meet the needs of their customers for various financial and banking products and services including account opening and management, deposits, loans, guarantees, domestic and international payment, currency trading and derivatives.

The two banks will also cooperate to provide support and consultancy to customers relating to Vietnam’s business and investment environment, Vietnamese laws for foreign investors in the fields of banking and finance, and business matching, amongst other things.

The Bank of Fukuoka Ltd, established on 31 March 1945, is a regional bank headquartered in Fukuoka prefecture, Kyushu region, Japan. The Bank of Fukuoka’s total assets and owner’s equity as of 31 March 2016 were USD109.9 billion and USD5.3 billion respectively. The bank is the 16th largest bank in Japan and ranked 192nd in the world by assets as of 31 March 2016.

BIDV is a primarily state-run bank. As of 31 December 2016 the bank ranked first among commercial banks in Vietnam with total assets of over VND1 quadrillion (approx. USD45 billion). BIDV operates in various fields including banking, insurance, securities and investment. The bank is well-positioned, with a network of more than 1,000 transaction points across Vietnam as well as commercial presences in foreign countries. BIDV established partnerships with more than 1,700 banks and bank branches in 122 countries and territories.