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Bank links up with building companies
A comprehensive co-operation agreement was signed in late June among the HCM City Housing Development Joint Stock Commercial Bank (HDBank), Infrastructure Development Construction Corporation (LICOGI) and SOVICO Holdings.
Under the agreement, LICOGI will be a strategic customer of HDBank in co-operative ties relating to credit activities, supplies of banking products and services, and investments.
The company will also be a strategic partner of the SOVICO Holdings in co-operating to invest into projects and carrying out construction and installation works.
For HDBank, the bank will supply capital for LICOGI and its member companies to carry out their business activities with preferential conditions.
It has also committed to create favourable conditions for LICOGI and its member companies, partners, customers and employees in order that they can easily use HDBank products and services with the most preferential interest rates and service fees.
SOVICO Holdings's responsibility is to arrange finance for projects with LICOGI regarding owners' investment, or to co-operate with LOCOGI to jointly become investment owners of projects via HDBank.
SOVICO Holdings will also offer chances for LOCOGI and its member companies to participate in installation and construction activities at industrial projects and infrastructure construction projects invested by both sides (SOVICO Holdings and LOCOGI).
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