Performing the guidance of the Governor of the State Bank of Vietnam, on 6/12/2011, at the head office of the State Bank of Vietnam, No. 8 Vo Van Kiet street, District I, Ho Chi Minh City, the Bank for Investment and Development of Vietnam (BIDV) signed the Strategic, comprehensive cooperation Agreement with the First Commercial Bank (Ficombank), TinNghiaBank and Saigon Commercial Bank (SCB).

According to the contents signed by the parties, the parties shall cooperate in the fields: Administration, Operation, Control, Capital source and monetary business, Credit, Commercial sponsor, Local payment and International payment, Budget, Credit payment, Exchange relations and providing information, Training and other business cooperation relationships on the basis of demand and capacity of each party in accordance with the regulations of the law. Some specific fields include:

For administration, operation, control, the Parties agreed that after FicomBank, TinNghiaBank, SCB have merged, the General meeting of shareholders, Management Board of the merged Bank, under their jurisdiction defined in the Charter of the merged Bank shall elect, appoint the titles of members of Management Board, Supervisory Board, Executive Board, including the titles introduced by BIDV.

For capital sources and monetary business, BIDV shall grant the general limit to FicomBank, TinNghiaBank and SCB and the merged Bank shall inherit such limit in order to support the payment for the depositors. When one party has demand for deposit or trade in foreign currency, the parties shall offer the preferential price rate to each other suitable to the conditions of the parties. The parties commit to provide mutual support in carrying out the transactions on capital and monetary business when there is demand on the basis of clauses agreed in the specific transaction Contracts within the periodical limit for each other.

For the other operation fields such as payment, providing the retailing, derivative banking services, co-sponsor for projects, non-life insurance, business, securities investment and brokerage, financial leasing…. BIDV commits to give priority to support on the basis of compliance with the conditions and regulations of the law in force.

In the present time, the parties agree to actively exchange and provide two-way information in some fields such prevention from business risks of enterprises, projects; exchange rate and interest rate in the market, domestic and foreign gold price, new products and services for customers….

The cooperation Agreement between BIDV and three Commercial Joint Stock Banks for this time is a specific action in restructuring the banking system of the State Bank and the Government, in order to provide positive support to the merged bank. Ensure the target that after merge, three banks shall form a bank with larger scale both in financial capacity, business administration, promotion of strong position of the banks in a merged bank.

For further information, please contact:

Branding and Public Relations Division

Bank for Investment and Development of Vietnam

Tel: 04. 22205256; Fax: 04. 22225316