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Joyo Bank, Vietinbank cooperate in Vietnamese biz

Joyo Bank Ltd. and Vietnam Joint Stock Commercial Bank for Industry & Trade, or Vietinbank, will cooperate to aid Joyo Bank customers' business in Vietnam.

Joyo Bank, Vietinbank and the Vietnamese bank's 19.73% holder, Bank of Tokyo-Mitsubishi UFJ Ltd., signed an agreement, the two Japanese banks said in separate Dec. 15 statements.

Vietinbank will provide financial services such as deposits, loans and currency exchange to Joyo Bank's customers, and will also introduce Vietnamese companies to the Japanese bank's customers.

Vietinbank is 64.46% owned by the Vietnamese government.