Hanoi, 8 September 2017: BIDV-SuMi TRUST Leasing Company Limited, a joint venture between the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST), has officially been launched, opening new opportunities in financial leasing market of Vietnam.

BIDV - SuMi TRUST Leasing Company, Limited (BSL) is the first financial leasing company in Vietnam to apply joint venture model between a domestic commercial bank and a foreign financial institution, whose license No. 33/GP-NHNN was granted by the State Bank of Vietnam on Arp 12, 2017. BSL’s charter capital is VND 895.6 billion, of which BIDV owns 50% and SuMi TRUST owns 49%. BSL operates in all areas of a leasing business in accordance with the law.

BSL will focus on developing financial leasing services for Vietnamese enterprises, including corporations, small and medium enterprises and FDI enterprises in Vietnam. BSL also connects with manufacturers and equipment suppliers to assist end-users in finding machineries and equipment that meet their production needs as well as having the right financing solution through leasing.

 Mr. Nguyen Thieu Son, Chief Executive Officer of BSL said: “With the combination of SuMi TRUST’s international experience and expertise from  leasing business in Japan and BIDV's extensive customer base, BSL offers diversified financial leasing products and brings about a medium to long-term capital solution for enterprises to expand their businesses by investing in machineries and equipments”.

Together with the birth of BSL, BIDV has also added an important financial product to its business line to better satisfy diverse needs of customers: credit, insurance, financial leasing and securities. Meanwhile, SuMi TRUST can serve for their customers by providing finance lease products.

Reference information:

BIDV and SuMi TRUST have developed a strategic cooperation relationship since 2013, after having signed the Memorandum of Understanding on Strategic Cooperation, whereby the two banks have cooperated in research and development of many business projects, collaborative training and technology transfer. Over 4 years of cooperation, this strategic relationship was further strengthened  by the signing of a cooperation agreement in financial leasing on April 29, 2016 in Hanoi. The agreement was implemented by the transfer of 49% of charter capital of BIDV Finance Leasing Company, Limited (BLC) to SuMi TRUST, converting BLC into BSL, and doubling the charter capital to increase its financial capacity to meet business development demands in the coming period.

On 5 June 2017, at “Vietnam Investment Promotion Forum” held in Tokyo, Japan, under the witness of Prime Minister Nguyen Xuan Phuc, BIDV and SuMi TRUST reaffirmed the cooperation in the development of BIDV - SuMi TRUST Leasing Company, Limited and the promotion of leasing market in Vietnam. According to the agreement, BIDV and SuMi TRUST support to the highest level in order to promote BSL's business activities with the aim of developing BSL to become the leading leasing company in Vietnam.

On 10 August 2017, BIDV and SuMi TRUST were honored with the “Outstanding M&A deal for 2016-2017” award at the Vietnam M&A Forum, the biggest M&A forum in Vietnam, held in Ho Chi Minh City for the deal between BIDV and SuMi TRUST in the field of financial leasing.

About BIDV:

BIDV (HOSE: BID), established in 1957, is a leading financial institution in Vietnam with diversified business lines in banking, insurance, securities and financial investment. BIDV has 192 branches and 816 transaction offices both domestic and overseas, serving over 9 million customers. As of June 30, 2017, BIDV had total assets of VND 1,100,433 billion, which was the highest among local commercial banks, among top 30 ASEAN banks, and top 500 global banks. BIDV was in Forbes’s (USA) list of top 2,000 largest and most powerful public companies in the world.

About SuMi TRUST:

Sumito Mitsui Trust Bank, founded in 1925, is Japan's largest trust bank with total assets as of Mar 31, 2017 was 65,000 billion Yen and owners' equity was 2.030 billion Yen. In addition, assets under management was No1. among Japanese banks and securities  company groups,  which is 80,000 billion Yen. SuMi TRUST has a network of 133 branches, 15 domestics satellite offices and 9 overseas branches as well as representative offices in the UK, USA, Singapore, China, Korea and Indonesia, etc.

For more information, please contact:

 Bank for Investment and Development of Vietnam JSC

Tel:  024.22205356 Fax: 024.22225316 Website: www.bidv.com.vn

Sumitomo Mitsui Trust Bank, Limited Tel:  +81-3-3286-8354 Fax: +81-3-3286-4654 Website: http://www.smtb.jp/tools/english/