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| LienVietPostBank and JPMorgan Chase Bank’s Singapore branch on Tuesday in Hà Nội signed a credit contract worth US$50 million for three-year term. — VNS Photo |
Viet Nam News
HÀ NỘI — LienVietPostBank and JPMorgan Chase Bank’s Singapore branch on Tuesday in Hà Nội signed a three-year credit contract worth US$50 million.
The loan aims to improve LienVietPostBank’s position in the financial market both inside and outside the country while helping the bank add mid-and-long-term foreign currency. It should improve the bank’s capital mobilisation structure.
Speaking at the signing ceremony, Phạm Doãn Sơn, LienVietPostBank’s general director, lauded co-operation of JPMorgan Chase in signing the contract.
“The loan would help LienVietPostBank deeply integrate into international financial market,” Sơn added.
By June 30, 2018, LienVietPostBank’s total assets reached VNĐ175.8 trillion, up 7.62 per cent from the end of last year. The bank’s outstanding loans rose 13.3 per cent to VNĐ116.8 trillion while capital mobilisation was VNĐ156.7 trillion. Its bad debt ratio fell from 1.07 per cent at the beginning of the year to 0.98 per cent as of June 30.
Currently, LienVietPostBank is the commercial bank with the largest network of more than 360 branches, transaction offices and some 1,000 post offices in Việt Nam, covering 63 cities and provinces nationwide. — VNS
