Vietinbank gets foreign syndicated loan of 200 mln USD

Illustrative Image (Source: thebank.com)

Hanoi (VNA) – The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has signed a syndicated loan worth 200 million USD with 18 international banks in Chinese Taipei.

The foreign currency loan will provide the bank with funds for production and business activities of enterprises, Vietinbank said in a statement on its website.

At the end of 2015, Vietinbank’s total assets valued at 779 trillion VND (34.9 billion USD), a 17.8 percent increase over 2014. Its outstanding loan reached 674 trillion VND, growing 24.2 percent compared with 2014.

The bank earned a pre-tax syndicated profit of 7.36 trillion VND in 2015, apart from the return on average equity (ROAE) and return on average assets (ROAA) which were 10.2 percent and 1.0 percent, respectively.

According to the latest report of Brand Finance on Banking 500 – on the world’s most valuable banking brands, Vietinbank made the top 400, climbing from the 437 to the 379, making its global brand value of 249 million USD. It was in the list in 2012, 2013 and 2015.

The loan, led by BNP Paribas and Taipei Fubon Commercial Bank, was funded by banks including Commerzbank AG in Luxembourg, Taiwan Cooperative Bank, BDO Unibank, Inc. and Chang Hwa Ltd., in addition to Land Bank of Taiwan in Singapore, Bank of Taiwan, Far Eastern International Bank and Jih Sun International Bank, Ltd. The other banks were Sunny Bank Ltd., Taishin International Bank, and the Export-Import Bank of the Republic of China.-VNA