Sacombank ties with Japanese banks

HCM City, May 5 (VNA) – The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) on May 4 signed a memorandum of understanding with three banks under the Japanese Resona Holdings Inc on developing their customer networks. Under the agreement, the three Japanese banks, namely Resona Bank, Saitama Resona Bank and the Kinki Osaka Bank, along with Sacombank, will provide financial services for clients in Vietnam and Japan and to their their international branch network. Addressing the ceremony, Sacombank Director General Phan Huy Khang said his bank has promoted international economic integration via cooperating with many international organisations, including the banks under the Resona Holdings group. Meanwhile, Chairman of the group Kazuhiro Higashi, who is also Director General of Resona Bank highlighted the potential in Vietnam’s market, saying that the cooperation is expected to bring high-quality services to Vietnamese clients and promote the two nations’ business communities. Resona Holdings is the fourth biggest financial institutions in Japan, with its total assets reaching 46 trillion JPY (430.33 million USD). As of March 31, 2015, it has developed a network of 1,443 transaction offices in Japan, Thailand, China, Vietnam and Singapore.