Vietinbank inks cooperation contract with CT Group

C.T Group has signed a comprehensive cooperation agreement with HCM City Branch of Vietnam Bank for Industry and Trade (Vietinbank), in which Vietinbank pledged to fund about two trillion dong for CT Group.

Tran Kim Chung, CT Group’s chair of management board said the two parties plan to take full advantages of each other. Under the signed contract, Vietinbank would support CT Group with its banking and finance, consultancy, payment and card services while CT Group, with its wide business network, would help Vietinbank to expand network, participate in large projects, and develop its banking services.

At present, CT Group has carried out large real estate projects in HCM City. Vietinbank’s funding would play an important role in realising the group’s projects.

Nguyen Van Se, Vietinbank-HCM City branch’s manager affirmed that with this strategic contract, Vietinbank would offer funding for CT Group with preferential interest rates and payment methods.

CT Group has 36 member companies operating in six main sectors of retails, investment in real estate and new urban area, gastronomy, health care, construction, financial investment, plantation and mineral resources and ecological tourism. The group planned to list shares of two member companies of C&T International Joint Stock Co and CT Retail Joint Stock Co on Hochiminh Stock Exchange (STC) in early 2011.

Tags: CT Group, Vietinbank, Vietnam finance, Vietnam financial

Posted by VBN on Jun 28 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry