21:02 (GMT +7) - Monday 22/07/2019

Banking & Finance

VPBank partners with VinaCapital to provide investment options

Released at: 16:14, 15/05/2019

VPBank partners with VinaCapital to provide investment options

Photo: VPBank

Two sign strategic cooperation agreement to provide bank's priority individual customers with outstanding investment products.

by Khanh Chi

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and VinaCapital Fund Management (VCFM), a member of the VinaCapital Group, one of Vietnam’s leading investment and asset management firms, recently signed a strategic partnership agreement in which the two will work closely to offer VPBank’s individual customers a range of new and diverse investment products.

VCFM will introduce to priority customers of VPBank a new form of investment through open-ended fund shares, which are favored by domestic and international investors alike due to their high levels of safety and liquidity.

VCFM currently offers three open-ended funds: VEOF (VinaWealth Equity Opportunity Fund), which invests in listed stocks, VFF (VinaWealth Enhanced Fixed Income Fund), which invests in bonds, and VIBF (VinaCapital Insights Balanced Fund), which invests in a mix of stocks and bonds. Each of these funds offers a different level of risk and potential return to meet differing investor needs.

VPBank and VCFM have also agreed to jointly develop specialized seminars, sales days, and meetings to introduce VCFM’s financial products to the bank’s customers. VCFM’s financial experts will analyze and advise on investment planning strategies for each group of VPBank’s customers, helping to ensure they have sufficient information to make wise investment decisions, as well as establish an ongoing relationship with them to keep them updated on market trends - whether positive or negative - to help minimize risks and maximize returns.

“We are very pleased to work with VPBank to offer their customers expanded personal investment opportunities and advice,” said Ms. Nguyen Thi Thai Thuan, General Director of VCFM. “Investment products can play an important role in a diversified personal finance plan. We continually strive to create new products that both meet the needs of consumers and capitalize on positive market trends, and look forward to offering these products to VPBank’s customers.”

Mr. Phung Duy Khuong, Deputy General Director of VPBank, said that individual Vietnamese investors are gradually discovering the benefits of investing in open-ended funds. “VinaCapital has been at the forefront of offering new investments to the retail market, and we are delighted to work with them to offer our customers a larger range of investment solutions as we continue to aim to become the best retail bank in Vietnam,” he said.

The bank last month also signed a cooperative agreement with local technology startup Haravan, called “Empower 50,000 Vietnamese enterprises”, with the participation of over 100 e-commerce and retail businesses, in order to improve digital transformation capacity and accompany the development of local enterprises, especially small and medium-sized enterprises (SMEs).

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