Eximbank and Sumitomo Mitsui Bank step up partnership

11:00 | 22/02/2013

Vietnam’s Eximbank and Japan’s Sumitomo Mitsui Banking Corporation are joining hands to further enhance their strategic partnership in Vietnam.

The banks celebrated their five-year strategic alliance in Ho Chi Minh City on February 22 by pledging to continue efforts to promote their comprehensive cooperation.

The two sides will work together on the establishment of partnerships to create more cooperation values to create a platform for Eximbank’s stable future development.

In November 2007, Eximbank and Sumitomo Mitsui Bank agreed to launch a strategic alliance for comprehensive cooperation aiming at know-how, state-of-the-art technology and sharing experiences. Given the Japanese bank’s support, Eximbank introduced new products and services into the Vietnamese financial industry and reinforced its position as one of the leading commercial joint stock banks in Vietnam.

Their cooperation covered Eximbank’s general operations, risk management, credit management, fund trading, gold trading, forex trading and retail banking. Sumitomo Mitsui Bank also assisted Eximbank in obtaining Japanese retail banking customers.

It also helped Eximbank approach international funding sources with reasonable costs and enhanced the Vietnamese lender’s liquidity through money market lines, trade financing and guarantees.
 

Tuong Thuy

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