Business

Vietcombank, Binh Son refinery company step up cooperation

Vietcombank will continue providing comprehensive financial services to the Binh Son Refining Petrochemical Company Limited (BSR) under an agreement inked between two sides on May 7.
Vietcombank, Binh Son refinery company step up cooperation ảnh 1Illustrative photo (Photo: VNA)

Da Nang (VNA) - The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) will continue providing comprehensive financial services to the Binh Son Refining Petrochemical Company Limited (BSR) under an agreement inked between two sides on May 7.

Those services, including trade finance, international payments, credit services, personal loans and cards, will be delivered to the BSR with preferential policies.

According to Chairman of Vietcombank Executive Board Nghiem Xuan Thanh, the bank has granted loans worth 5 trillion VND (224.3 million USD) for BSR’s long and short-term projects over the last 10 years and loaned the firm more than 2 trillion VND (89.73 million USD) in 2015.

He said that BSR’s more than 600 million USD in international payments and guarantees were provided by Vietcombank last year.

Vietcombank praised BSR’s position as a leading refinery in Vietnam, he said.

Chairman of the BSR Board of Directors Nguyen Hoai Giang said that the agreement was a significant milestone, marking 10 years of cooperation between two sides.

BSR is responsible for the management, operation and business of Dung Quat Refinery, the first of its kind in Vietnam, which provides the foundation for the country’s petrochemical industry.

The company has produced 36,283 million tonnes of gasoline products and raked in about 710 trillion VND (31.8 billion USD) since Dung Quat Refinery became operational in 2009.-VNA

VNA
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