Techcombank inks deal with Wells Fargo Bank

Vietnam Technological Commercial Joint Stock Bank (Techcombank) and Wells Fargo Bank have recently signed a memorandum of understanding (MoU) to jointly provide banking and financial services for corporate customers of each other in Vietnam and the US.

Under the MoU, Techombank will offer banking and financial services for corporate customers of Wells Fargo in Vietnam and in return, Wells Fargo will provide banking and financial services for corporate customers of Techcombank in the US. Products and services will include monetary management, trade finance and funding, serving business activities of enterprises in Vietnam and the US.

Wells Fargo Bank and Techcombank have begun the cooperation relations establishment since 2005. In order to better serve its business customers in Vietnam, Wells Fargo has selected Techcombank. This cooperation is also one of Techcombank’s efforts in providing financial services fast and conveniently for its corporate customers in business operations in the US.

Wells Fargo Bank is the largest financial institutions in the US in terms of transaction network, the total deposits as well as the market share of retail banking and services to small and medium enterprises. – Vietbiz24

Posted by VBN on May 10 2011. 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