VIB and Vietnam Airlines signed a credit agreement for Airbus A321 purchase

This is part of the VNA’s fleet development project, aimed at creating a modern fleet to satisfy its development and expansion goals for both domestic and international routes.

“In the context of various difficulties faced by the economy, competition in the financial sector is getting fiercer and fiercer, especially from foreign credit institutions and banks. Financing VNA to buy the air plane demonstrates nonstop efforts, development and position of local banks in general and VIB in particular.

This signing ceremony marks an important milestone and initiates a new development phase in a long-term efficient and reliable cooperation relationship between the two parties. We believe that close cooperation will bring about essential benefits to not only VIB and VNA but our customers as well,” said Pham Ngoc Minh, general director of Vietnam Airlines.

“VNA is a large corporation with an extensive network nationally and internationally. VIB always wishes to tighten the cooperation relationship with VNA through comprehensive cooperation activities. We hope that our cooperation relationship will get better and better and then be lifted to a new height,” said Duong Thi Mai Hoa, CEO of VIB at the signing ceremony.

Previously, VIB and VNA have cooperated with each other in many aspects including providing additional short-term working capital, and forex services. The signing of this credit agreement for an A321 provides the first long-term commercial loan between VIB and VNA. The success of this credit agreement will initiate a long-term and comprehensive cooperation relationship between both parties in different services in the coming time.

VIB was founded on September 18, 1996. By February 2012, after 15 years of operation, VIB has become one of the leading commercial joint stock banks in Vietnam, with total assets of more than VND100 trillion ($5 billion). Currently, the bank has more than 4,300 staffs serving more than one million customers at 160 branches and transaction offices in 27 key provinces/cities across the country.

During its operation, VIB has won a range of titles and awards from prestigious organisations nationally and internationally, including "Strong Brand of Vietnam", "Bank with The Most Satisfying Retailing Services", "Bank with Excellent International Payment", and ”Bank with the best customer service” and ranked the 3rd among 500 biggest private enterprises in Vietnam in terms of revenue as voted by VietnamNet.