VietinBank signed a deal in Hanoi on May 5 that will increase its cooperation with UniCredit S.p.A., the biggest bank in Italy.
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| The signing ceremony (Photo: chinhphu.vn) |
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and UniCredit S.p.A, will exchange experience and information as well as facilitate links between their customers.
Speaking at the signing ceremony, H.E.Mr. Lorenzo Angeloni, Italian Ambassador to Vietnam, said the cooperation will help to boost the Italian investment in Vietnam in the coming years.
According to the Vietnamese Ministry of Planning and Investment, by the end of March, Italian companies invested USD187.73 million in 39 projects, ranking the 31st in direct investment in Vietnam.
Pham Huy Hung, Chairman of VietinBank, disclosed that the bank plans to open branches in Germany in the third quarter of this year.
VietinBank and UniCredit have had maintained relations for many years, cooperating in areas such as trade financing, payment, remittance, treasury and foreign exchange services.
They have also signed remittance and framework financing agreements in compliance which will facilitate international transactions.
