ING to help Vietnam’s Bank of Foreign Trade
(Vietnam) Dutch-based financial organisation ING has inked a US$2 million deal to provide technical assistance to Vietnam’s Bank of Foreign Trade (Vietcombank).
The contract is part of Hanoi’s attempt to reform its banking industry, as agreed with the World Bank.
ING will head a consortium that includes PricewaterhouseCoopers, the Belgian Bankers Academy, and Vietnamese consulting firm, Banking Financial Consultancy.
The consortium will advice Vietcombank on matters such as risk and asset management, IT strategy, internal audit and treasury.
The Vietnamese bank is looking at paying off its bad debts by the end of this year, putting it ahead of all other State-owned banks.
ING’s involvement follows the recent announcement that Japan will provide Vietnam with technical assistance to help it develop its infant bond market.
ING will head a consortium that includes PricewaterhouseCoopers, the Belgian Bankers Academy, and Vietnamese consulting firm, Banking Financial Consultancy.
The consortium will advice Vietcombank on matters such as risk and asset management, IT strategy, internal audit and treasury.
The Vietnamese bank is looking at paying off its bad debts by the end of this year, putting it ahead of all other State-owned banks.
ING’s involvement follows the recent announcement that Japan will provide Vietnam with technical assistance to help it develop its infant bond market.
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