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FLC & OCB sign comprehensive cooperation agreement

Released at: 14:23, 21/01/2019

FLC & OCB sign comprehensive cooperation agreement

Photo: FLC Group

Agreement prioritizes both sides using the products and services of the other.

by Ngoc Lan

The FLC Group and the Orient Commercial Bank (OCB) signed a comprehensive cooperation agreement on January 19 that places priority of using the products and services of each other, to promote and exploit their position and competitiveness.

OCB will provide the best financial solutions for medium and long-term credit services and working capital to support FLC’s production and business activities and investment and development projects.

The bank will also provide credit packages for customers who purchase properties in residential projects invested by the FLC Group with preferential and competitive interest rates and quick and convenient procedures. A special loan product for residents of FLC supports them with automated payments of monthly utility fees.

Meanwhile, the FLC Group will prioritize the use of account services, card services, internet banking services, deposit services, foreign currency transactions and other services of OCB.

It will also create the conditions for OCB to provide financial support and participate in its investment projects.

Mr. Phan Dinh Tung, General Director of OCB, said it currently has more than 1 million customers and the number will rise to nearly 2 million this year. “This provides potential for FLC,” he added. “We hope the two sides will develop different products and services to bring a unique ecosystem to create value for customers.”

On the basis of long-standing bilateral cooperation, Mr. Trinh Van Quyet, Chairman of the FLC Group, said he hopes this agreement will form the basis for FLC and OCB to continue supporting each other to expand and develop business activities.

The FLC Group is a multidisciplinary enterprise active primarily in the fields of real estate, resorts, golf, aviation, high-tech agriculture, industrial infrastructure, finance, and trade.

In resort real estate, it boasts many international-standard projects such as FLC Vinh Phuc, FLC Sam Son, FLC Quy Nhon, FLC Ha Long, and FLC Quang Binh.

OCB was recently officially recognized by the State Bank of Vietnam (SBV) as applying Circular No. 41 ahead of schedule, after a year of implementing and applying Basel II standards.

It also recorded many other successes in 2018, such as Moody’s upgrading its rating to B1 in many important categories, being the first Vietnamese bank to successfully apply an omni channel platform into its operations, receiving two consecutive awards from International Finance magazine, and, most recently, on December 23, receiving a Top 100 Vietnam Gold Star 2018 Award.

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