Vietcombank joins Italian group in supporting corporate clients

Italian banking group Intesa Sanpaolo and Vietcombank have signed a mutual agreement aimed at supporting corporate clients in developing internationalization plans in Vietnam and Italy.

Under this agreement, Intesa Sanpaolo will cooperate with Vietcombank through its corporate and investment banking division to support its corporate clients in starting or expanding their business activities in the Vietnamese market.

In similar, Vietcombank will allow Vietnamese firms to gain access to Intesa Sanpaolo's services and products in support of their internationalization plans in Italy.

According to the agreement, banking services for companies will be available such as opening of accounts, remote banking services, multibank transaction initiation for local and cross border payments, collection services, international liquidity management solutions and local customer support.

The agreement also features preliminary advisory services include general overview of the economic and business environment within the respective home country and an overview of the specific market sectors in which an introduced company is or intends to be active.

Additional advisory services may envisage specific advice on the local market, development of strategic plans for an effective introduction in the market, identification and selection of potential partners or commercial or investment purposes, identification and indication of possible acquisition targets in Vietnam and Italy and assistance for merger and acquisition targets.