23/10/2009
EVN Finance Co and Standard Chartered Bank Vietnam has signed a memorandum of understanding to boost cooperation in such areas as money markets, foreign exchange, structured products and derivatives, cash management and training.
Ashok Sud, chief executive officer of Standard Chartered for Vietnam, Laos and Cambodia, said, “We are delighted to sign this MoU and look forward to working in partnership with EVN Finance. We strongly believe that this relationship will see synergies for both EVN Finance and Standard Chartered.”
Under the MoU, Standard Chartered would cooperate with EVN Finance in terms of financing, the sale and purchase of foreign currencies on the interbank market, and the trading of Government, municipal and corporate bonds.
The bank would also provide advisory services to EVN Finance’s corporate clients on structured products and would advise on the development of derivatives to help EVN Finance hedge risks. In addition, they would cooperate in training and in the exchange of information on banking technology and new products.
EVN Finance general director Hoang Van Ninh described the MoU as “an important milestone in our cooperation. EVN Finance will work closely with Standard Chartered Bank to implement our agreements for mutual benefits.”
VNA/VOVNews
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