Japanese lender Aozora Bank supports Vietnam's COVID-19 vaccine fund

Takeshi Ito, CEO of Aozora Bank Investment and Consulting Department and member of the Board of Directors of Orient Commercial Joint Stock Bank, presenting the donation at the Vietnamese Embassy in Japan

Takeshi Ito, CEO of Aozora Bank Investment and Consulting Department and member of the Board of Directors of Orient Commercial Joint Stock Bank (OCB), said at the event, “Although the unprecedented COVID-19 outbreak has wreaked havoc in the whole economy, the Vietnamese government has contained the pandemic successfully, which is globally recognised by other countries. We really appreciate such great efforts, especially compared to the higher positive cases in Japan. Vietnam has been a poster child for how to minimise community transmission, 'leave no one behind' while still maintaining to benefit from global trade, with positive GDP growth."

"Despite the recent resurgence of COVID-19 cases, Vietnam’s growth outlook remains optimistic, which encourages foreign investment into the country. Through our involvement with OCB, we have decided to contribute a part of the funding to Vietnam's COVID-19 vaccine fund, with the desire to work together, and help Vietnam quickly stabilise and overcome this difficult period," Ito highlighted.

Aozora is a Japanese bank established in 1957, currently headquartered in Tokyo. Participating in operations in Vietnam since 1997, by June 2020 the bank became a strategic shareholder of OCB, one of the most efficient banks in Vietnam, through owning a 15 per cent stake. This landmark deal was honoured among the Top 10 M&A deals of 2020 by VIR.

AOZ and OCB has signed a strategic cooperation agreement. Accordingly, AOZ commits to long-term investment in OCB by sending experts to participate in governance and operations, business development support, retail operations, risk management, business improvement, as well as high-tech and digital banking. At the same time, the two banks will collaborate in providing financial services for Japanese enterprises operating in the Vietnamese market.

OCB, since the beginning of 2021, the bank has been actively participating in the SBV's relief measures to assisst customers to weather the storm, through preferential interest rate programmes as well as reducing and extending loan repayment periods. Moreover, the bank also provides financial support for vulnerable customers to continue to operate and expand their businesses.