The Standard Chartered Bank and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) have signed a memorandum of understanding on cash management services.
"This agreement signifies another milestone of Standard Chartered Bank (Vietnam) and will strengthen our network coverage as well as Sacombank's service utilization," Haroon Anwar, country head of Transaction Banking, Standard Chartered Bank said. "As a result, our corporate clients will be able to use the services via both banks' channels."
Sacombank has decided to expand its collaboration with Standard Chartered Bank by providing the Standard Chartered Bank with its cash management services such as account, collection and disbursement services.
Standard Chartered Bank will also partner with other local banks on these cash management services.