Abreast with the success of Hoa Phat Group

On the occasion of 5-year establishment of BIDV – Ha Thanh Branch, Investment – Development Magazine (No 143) had an article about the cooperation between BIDV - Ha Thanh Branch and Hoa Phat Group (HPG). Website: http://www.hoaphat.com.vnwould like to republish this article.

From the beginning days, BIDV – Ha Thanh Branch (BIDV Ha Thanh) and Hoa Phat Group - HPG have established the effective relations which are based on mutal benifits. Especially, in recent years, the process of production scale expansion and new projects implementation of Hoa Phat Group - HPG have required a lot of capital, the distribution of BIDV – Ha Thanh Branch has important significance.

In fact, BIDV Ha Thanh  has also considered HPG to be the strategic partner, prestige and potential customer and it granted capital for many projects of companies of Hoa Phat Group - HPG, namely Hoa Phat Furniture, Hoa Phat Refrigeration Engineering, Hoa Phat Steel Pipe (the biggest customer of BIDV Ha Thanh in the member Companies of HPG), etc.

From the establishment time, BIDV Ha Thanh has provided capital for Hoa Phat Refrigeration Engineering Co., Ltd to implement the project of equipment, line import for plastic Factory with the total loan capital of VND 22.7billion. In February 2008, BIDV Ha Thanh provided the credit limit for Hoa Phat Refrigeration Engineering Co., Ltd valued VND 40 billion and the Bank has recently increased the credit limit valued VND 80 billion.

Hoa Phat Steel Pipe Company has officially cooperated with BIDV Ha Thanh since 2005 with the initial credit limit valued VND 38 billion. Later, the credit limit has been increased more and more together with the development speed of the enterprise: In 2006 the credit limit was VND 100 billion, July 2007 was VND 150 billion, from October 2007, the credit limit has been increased to VND 300 billion and currently it has been maintained. The credit limit of BIDV Ha Thanh is the biggest one, accounting for 60% total loan capital from Banks of the Company.

HPG and BIDV Ha Thanh signed an agreement on providing credit and bank services phase 2007 – 2010. Following, BIDV Ha Thanh committed to give all favourable conditions to Hoa Phat to approach and use bank services in the most effective way, at the same time, it provides credit for all the new projects of Hoa Phat with favourable service cost. Recently, in June 2008, 2 short-term credit contracts valued VND 360 billion were signed between BIDV Ha Thanh and Hoa Phat Group Joint Stock Company. This credit limit will be added in floating capital, letter of credit (L/C), as well as in projects, business and production plans in the coming time.

The good relations between BIDV Ha Thanh and Hoa Phat Group were built based on the absolute belief and cooperation effectiveness. Although the current market context in general and bank system in particular face many difficulties, BIDV still trys its best to remain the good relation with Hoa Phat at the highest level.

In the coming time, HPG and BIDV Ha Thanh will continue to remain and develop the comprehensive cooperation. Not only in credit relations, BIDV Ha Thanh will provide other bank services, namely paying salary via account, payment, transfering money in domestic and foreign countries, etc. Besides available customers, other companies of the Group, such as Hoa Phat Group Joint Stock Company, Hoa Phat Mineral Company, Hoa Phat Equipment & Accessories Company, Hoa Phat Urban Development & Construction, etc will develop the relation, boost up the cooperation with BIDV Ha Thanh.

With the close cooperation of 2 sides, Hoa Phat Group - HPG and BIDV – Ha Thanh Branch in particular and BIDV in general will incessantly develop, following the slogan: Harmony and Development. On the occasion of 5-year establishment of BIDV – Ha Thanh Branch, Hoa Phat Group wishes BIDV – Ha Thanh Branch will develop more and be the trust friend of Hoa Phat Group and other enterprises, create economic level, together with enterprises to develop and conquer new success.

Investment – Development Magazine