Military Bank hooks up with STL

November 10, 2010 | 16:10

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Song Da-Thang Long has just signed a cooperation agreement with Military Bank.

Under the agreement, there will be no limit for cooperation between the two sides and member companies in all fields such as investment, banking and financial services, brand promotion and development.

STL’s general director Nguyen Tri Dung said: “For a long time STL has had a tight relationship with Military Bank via the bank’s My Dinh and Quang Ninh branch offices. The all-sided cooperation will help the relationship tighter and our business stronger.”

As in detail, the credit limit which STL and its member companies was allowed to use in Military Bank was about $42 million, and up to date, the banker disbursed $26.3 million.

Military Bank will provide guarantee services and loans to purchase residential units for customers of STL’s Usilk City project.

In the signing ceremony, STL and MBBank also introduced the MB My Dinh branch office’s a new trading room, located at Van Khe new urban area, Hanoi’s Ha Dong district.

Being a member company of Song Da Corporation, one of largest state-owned construction groups in Vietnam, STL is the developer of a series of large-scale property projects thought out the nation such as Usilk City, Van Khe and Phu Lam new urban areas in Hanoi’s Ha Dong district and the Nhon Duc new urban area in Ho Chi Minh City.

Military Bank is one of the leading commercial banks in Vietnam and owns a more than 50 per cent stake in Thang Long Securities.

By Thanh Thuy

vir.com.vn

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