Sacombank seeks Chinese partner for joint venture

The Saigon Thuong Tin Commercial Bank (Sacombank) is seeking a Chinese partner for a future joint-venture bank to promote trade and payment transactions in the northern province of Lang Son, the top executive said.

Sacombank general director Hoang Khanh Sinh said his bank wants to form a venture with a Chinese partner to tap the market there, given the suggestion of the provincial government. “The provincial government has suggested Sacombank to set up a venture there. We are interested in the suggestion and are looking for a right partner for the venture.” However, the HCM City based bank will likely set up a branch there first as the venture may take much time for establishment, Sinh said.

 

Category: Finance