Announcement ceremony of agreement signing between Shinhan Finance and HSBC Bank (Vietnam)
Ho Chi Minh city, April 15th, 2021, Shinhan Vietnam Finance Company Ltd. (“Shinhan Finance”) and HSBC Bank (Vietnam) Ltd. have made an Acknowledgement on Agreement Signing that will provide a general framework to facilitate collaboration and cooperation between 2 companies in matters of common interest to extend facility management and promote business development as well as any other areas mutually agreed upon between 2 companies.
The 2 companies acknowledge their agreement to the signing of the General Facility Agreement dated April 05th, 2021 for a short-term revolving loan.
During the signing ceremony, Mr. Oh Taejoon - Shinhan Finance General Director said that “I would like to take this opportunity to highlight the important role of this Facility Agreement to the operation, competition abilities in the market and achievement growth rate goals of Shinhan Finance. HSBC Bank (Vietnam) and Shinhan Finance, have worked, negotiated, communicated closely step by step to complete the first cooperation between the two Companies on the long-term development path. Especially, this Facility Agreement with a good competitively price not only help a lot to boost the profitability of Shinhan Finance’s business but also prove the trust HSBC offers to Shinhan Finance and our mother company, Shinhan Card.
With the signing of a Facility Agreement, the teams of HSBC Bank and Shinhan Finance have made one crucial step to strengthen the bonding between us. We have much in common, but also a lot different in various aspects. We are found as indirect competitors but we also have great things to share with one another, and this could best been achieved through the platform created by this Memorandum of Understanding. I look forward to the successful implementation of our MOU and exploring new ways to further develop this co-operative initiative and spirit and joining hands with HSBC to build a strong business partnership for the end benefits of our customers.”
Speaking on the occasion, Mr. Tim Evans, HSBC CEO said “I am very pleased that HSBC Vietnam and Shinhan Finance have established a partnership together. As a strong financial institution in Asia, Shinhan Finance has significant potential in Vietnam. At HSBC we are proud to accompany Shinhan Finance and together help create opportunities for Vietnam and the Vietnamese as the country looks to further develop in a post Covid-19 world. We consider this partnership as the foundation for further strategic cooperation between two of our organizations, and we look forward to opening up a world of opportunity for Vietnamese people and corporations.”
