BNP Paribas Ho Chi Minh City Branch and Orient Commercial Bank (OCB) announced today that they have signed a Service Agreement in Cash Management. Under the Agreement, BNP Paribas will offer cash management services to its local and multinational customers through OCB’s branch networks in Vietnam.
Pierre Veyres, Global Head of Global Transaction Banking, BNP Paribas commented “This is a new step of a strategic partnership with OCB which will allow us to expand our cash management offerings in Vietnam through its extensive branch networks and local capabilities. It is consistent with our strategy to offer cash management services particularly to our MNC customers across Asia Pacific, and they will now be able to make use of our partner bank’s network for collection services.”
“In addition to existing partnerships we have with other banks, this new synergy will further strengthen our network coverage and allow us to offer a more complete suite of cash management products and services to our customers via OCB which has a strong footprint in the southern provinces of Vietnam,” said Luc Cardyn, Country Head, BNP Paribas in Vietnam.
The cash management service will be offered through OCB branches in Vietnam from 25 May this year.
BNP Paribas is a strategic partner of OCB since 2007 and the partnership has grown stronger over the years.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the strongest banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
*Rated AA by Standard & Poor’s
About Orient Commercial Bank (OCB)
OCB’ presence and commitment in the Vietnam banking market dates back to 1996. The bank operates through its domestic network of 82 points of sale and ambitions to constantly enlarge its nationwide coverage with a focus on key economic regions. An aggressive extension plan has been defined to reach around 250 sites by 2015.
OCB aims to develop into an universal bank with Retail banking as its core business. OCB set the target to become one of the top ten Vietnamese Joint Stock banks in 2015.
With its direct access to all Vietnamese clearing systems and to SWIFT, combined with the bank’s modern Core Banking system, OCB provides all types of in-country and cross-border payment services with thorough expertise of local markets and practices and is keen to develop highly technical Cash management solutions.
BNP Paribas in Vietnam
Nghiem Duc Nguyen +84 8 3823 1265 firstname.lastname@example.org
BNP Paribas Singapore
Yunis Lee +65 6210 1038 email@example.com
Madeleine Teo +65 6210 1292 firstname.lastname@example.org