Citi and Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) signed a Memorandum of Understanding (MOU) to expand cooperation across a broad range of banking and financial services.
The MOU was signed in New York last week as part of the visit to the United States by a high-level Vietnamese delegation on the occasion of attending the 81st Session of the United Nations General Assembly in New York.
Under the MOU, Citi and HDBank will strengthen cooperation in banking, treasury and risk management, capital markets, trade finance, payments, foreign exchange, derivatives, and other financial services.
The two institutions also plan to enhance the sharing of global market insights, exchange expertise, and organize training programs and workshops on relevant financial topics.
The agreement combines HDBank’s customer franchise, operational capabilities, and deep understanding of the Vietnamese market with Citi’s global network, international expertise, and strengths across Banking, Services, and Markets.
Through this collaboration, the two institutions aim to expand opportunities for Vietnamese businesses to connect with international markets, sources of capital, and global financial ecosystems, helping clients grow their cross-border activities and participate more deeply in global supply chains.
“It is a privilege to sign the MOU during this important visit to the United States of the high-level Vietnamese delegation led by General Secretary and State President To Lam. The visit sends a strong message about Vietnam’s determination to further deepen international cooperation, attract high-quality investment and create new momentum for sustainable economic growth,” said Minh Ngo, Citi Country Officer and Banking Head for Vietnam. “The MOU further reinforces Citi’s long-term commitment to the ongoing modernization and development of Vietnam’s financial sector. It also opens up additional opportunities for collaboration with HDBank across a range of areas where Citi has distinctive strength and expertise”
Mr. Nguyen Huu Dang, Chief Executive Officer of HDBank, commented: “HDBank is actively strengthening partnerships with leading global financial institutions to expand our ability to serve clients and enhance access to international capital markets and financial resources. This cooperation with Citi further broadens HDBank’s global partner network while creating additional opportunities for Vietnamese businesses to connect more effectively with international capital flows, markets, and value chains.”
