On January 10th, 2024, in Hanoi, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Deutsche Zentral-Genossenschaftsbank (DZ BANK) signed a Memorandum of understanding (MOU) with a view to enhance the cooperative relationship between the two banks.

BIDV and DZ will make their best efforts to support each other’s customers to grow business cooperation opportunities between Vietnam and Germany. BIDV and DZ will also cooperate in products and services such as short-term capital financing, capital and currency trading, project financing, especially ESG projects. Both sides will also increase the sharing of knowledge and experience. As the signatory of DZ Bank, Ms. Souâd Benkredda – Member of the Board of Managing Directors said:

The signed MOU between BIDV and DZ BANK is the crystallization of the exchanged ideas and will help enhancing the business flows between the two organizations in the future.

Mr. Tran Long, BIDV’s Senior Executive Vice President – added:

An action plan will be built up to implement the ideas of cooperation stated in the MOU.

About DZ Bank: DZ Bank is the second largest commercial bank in Germany and is the Central Bank for over 700 co-operative banks, its shareholders. In Asia, DZ BANK currently has two branches and three Representative Offices. About BIDV: BIDV is the largest commercial bank in Vietnam in terms of total assets. BIDV currently have a network of 189 branches in Vietnam and subsidiaries in the South East Asia regions.