On 31 May 2022, in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Tien Phong Commercial Joint Stock Bank (TPBank) signed an MOU on comprehensive cooperation for the 2022 - 2027 period. This marked the third comprehensive cooperation agreement between BIDV and TPBank, further affirming mutual trust and traditional and comprehensive partnership between the two banks.

With this agreement, in the next 5 years, BIDV and TPBank will continue to cooperate closely in various fields including treasury, domestic payment, international payment, trade finance and cash management, syndicated loan and retail banking. In addition, the two will utilize their strengths for collaboration to provide services for high-tech, IT and supporting industries, non-life insurance as well as other business areas based on each party’s needs and capabilities and in accordance with applicable laws.

Representative of BIDV and TPBank signed a comprehensive cooperation agreement

This event was significant in promoting the strengths and developing comprehensive and long-term mutual cooperation, thereby improving the competitiveness, development and integration of the two banks in particular and Vietnamese banks in general.

Speaking at the signing ceremony, Mr. Phan Duc Tu - Chairman of the BOD of BIDV said: Partnership to support operations, utilize resources, promote the potential and advantages of each party has always been determined as a significant solution of BIDV for implementation of our strategic objectives to 2030. TPBank is an important customer and partner to us in many ways. With this agreement, in addition to banking activities, we look forward to comprehensive cooperation with all member units in our financial, banking and insurance ecosystem. We will use our best resources to deliver the commitments, bringing practical benefits to both parties.

TPBank Chairman, Mr. Do Minh Phu shared: the signing of this comprehensive cooperation agreement will once again deepen the long-term relationship between TPBank and BIDV, raising the relationship to a new height commensurate with the two’s potentials and positions. Mr. Do Minh Phu also affirmed that TPBank is committed to using its best resources to ensure the successful implementation of this cooperation agreement. The two sides will hold regular meetings for review, thereby taking experiences to bring about substantial benefits to both sides.

“BIDV is a large, reputable financial institution with a wide network and tremendous experience. We believe that this comprehensive cooperation will bring benefits to both sides, especially helping TPBank move faster in the Vietnamese financial and banking market,” shared TPBank’s Chairman.

The comprehensive cooperation agreement between BIDV and TPBank contributes to enabling a closer, more durable and deeper cooperation relationship, and at the same time is a testament to their determination for companionship to realize their business strategies, bring sustainable values ​​to each party, to community and society.