|
Japan’s Sumitomo shares knowhow
Japan’s Sumitomo Mitsui Banking Corporation signed a contract last Friday with the Viet Nam’s joint-stock Eximbank to provide assistance with technical services.
The Japanese bank will provide its partner with modern banking tools to manage credit risk and assets and liabilities.
"Viet Nam’s banks badly need management skills of international standards, which pose a potential challenge to them due to the competitive pressure from regional and global economic institutions," said Truong Van Phuoc, general director of the Vietnamese bank.
The SMBC will also help Eximbank develop strategies, improve its retail and corporate banking services, promote IT application, and improve human resources.
The Japanese bank became a strategic shareholder in Eximbank last year after buying a 15 per cent stake.
The co-operation contract will be effective until 2018.
The SMBC has offices in HCM City and Ha Noi and Eximbank has a network of 120 branches and transaction offices.
After recently receiving approval from the State Bank of Viet Nam to increase its charter capital to VND8.8 trillion (nearly US$500 million), it is set to become among the country’s largest banks.
vietnamnews
|
