13:03 (GMT +7) - Thursday 18/10/2018

Banking & Finance

VietinBank signs $200 million syndicated loan

Released at: 19:00, 11/03/2016

VietinBank signs $200 million syndicated loan

Loan from 18 banks to assist VietinBank in serving the financial needs of enterprises.

by Minh Tien

On March 10 in Taipei, Taiwan, BNP Paribas and the Taipei Fubon Commercial Bank signed a syndicated loan of $200 million for the Vietnam Joint Stock Commercial Bank of Industry and Trade (VietinBank) with 18 reputable international banks: BNP Paribas, Taipei Fubon Commercial Bank, Commerzbank AG - Luxembourg Branch, Hua Nan Bank, State Bank of India - Singapore Branch, Taiwan Cooperative Bank, BDO Unibank, Chang Hwa, Land Bank of Taiwan - Singapore Branch, Taiwan Business Bank, Bank of Taiwan, Far Eastern International Bank, First Commercial Bank, Jih Sun International Bank, Sunny Bank, Taishin International Bank, Taiwan Shin Kong Commercial Bank, and The Export-Import Bank of the Republic of China.

Speaking at the signing ceremony, Mr. Tran Minh Binh, Deputy General Director of VietinBank, expressed his appreciation of the support coming from regional partners, which he views as also being a sign of trust in its effective operations.

According to the recent “Banking 500 - The World’s Most Valuable Banking Brands 2016” report from Brand Finance, VietinBank made spectacular progress in jumping onto the Top 400 list with a brand value of $249 million and an A+ rating.

As at December 31, 2015, its total assets stood at VND779 trillion ($34.95 billion), an increase of 17.8 per cent compared to 2014, while total mobilized capital was VND702 trillion ($31.5 billion), 18 per cent higher. Consolidated pre-tax profit for 2015 was VND7.36 trillion ($330 million) with a return on average equity (ROAE) and return on average assets (ROAA) of 10.2 per cent and 1.0 per cent, respectively. VietinBank has also continued to be rated as having a stable outlook by international ratings agencies.

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