On 28/10/2011, in Hanoi, the Bank for Investment and Development of Vietnam (BIDV) signed the bilateral cooperation agreement with North Asia Commercial Joint Stock Bank (BacAbank) and Global Petro Commercial Joint Stock Bank (GP.Bank).

On 28/10/2011, in Hanoi, the Bank for Investment and Development of Vietnam (BIDV) signed the bilateral cooperation agreement with North Asia Commercial Joint Stock Bank (BacAbank) and Global Petro Commercial Joint Stock Bank (GP.Bank).

The cooperation agreement was established on a voluntary, equal basis, the partners have the comprehensive, long-term cooperation of mutual benefit, in order to improve the ability of competition, development and integration.

According to the agreement content, BIDV and BacAbank, GP.Bank shall cooperate in the fields of capital source and money business, credit, commercial financing, domestic and international payment, cooperate in co-sponsor, retail banking, insurance service trading, budget, card payment, exchange relation and information supply, training and other business cooperative relationships on the basis with demand and capacity of each party in accordance with the regulations of the law.

In the field of capital source and money business, BIDV commits to support for liquidity up to 3,000 billion VND to BacAbank and up to 5,000 billion VND to GP.Bank. The limit shall be determined specifically in each period and checked, adjusted periodically according to the regulations of BIDV and depending on capacity of BIDV at the time of support.

In the field of payment and banking services, BIDV shall consider to apply the interest rates of charges arising for payment account of BacAbank and GP.Bank to ensure the competitiveness; support in the budget services, cash collection and payment; BacAbank and GP.Bank commit to select BIDV as preferential supplier for BacAbank and GPBank and customers in the international transfer services and commercial financing.

In the field of co-sponsor cooperation, the parties shall consider to facilitate the other party to participate in the co-sponsor projects; entrust for each other in lending, debt recovery of some investment projects.

In the field of retail banking cooperation, both parties shall coordinate to provide the retail banking services such as: Issuance, card payment, money transfer, invoice and other retail banking services.

In the field of non-life insurance service cooperation, both parties shall actively search cooperation opportunities in the non-life insurance activity with the cross-selling integrated products…

In addition, both parties commit to share experiences, management, coordinate in providing the services such as business, investment in securities brokerage, financial leasing, share risk prevention information, information about exchange rate, interest rate…. create conditions to participate in the debt purchase and sales projects in accordance with the regulations of the law and policy of each party.

Addressing at the agreement signing ceremony, Mr. Pham Quyet Thang, General Director of GP.Bank spoke “Through the signing ceremony, we wish that GP.Bank and BIDV shall have the comprehensive and steadfast cooperative relationship in many fields. We hope that with potential and experience of a leading bank in Vietnam, BIDV shall support, help GP.Bank to create the turning-points and successes in the coming time”.

Mr. Pham Duc An – Deputy General Director of BIDV spoke “In the current situation, when the small-scale commercial joint stock banks need the support for liquidity in a short term to ensure the stability and safety of banking system, implement the guidelines of the State Bank,, BIDV commits to implement the timely support to ensure the stable liquidity for the banks. The agreement signed on this day is the evidence for such commitment of BIDV”.

For further information please contact:

Branding and Public Relations Department,

Bank for Investment and Development of Vietnam.

Tel: 04. 22205256; Fax: 04. 22225316