Vietinbank Securities scores $30 mln foreign loan

The loan has a term of no more than 12 months.

The group of Taiwanese banks is led by the Union Bank of Taiwan, and includes the Union Bank of Taiwan, Taichung Commercial Bank, Taishin International Bank and Huanan Commercial Bank.

CEO of Vietinbank Securities Tran Phuc Vinh said negotiations started at the end of last year and lasted three months. The company plans to use the loan to develop its consulting services.

The broker recorded a revenue of VND610 billion ($26.5 million) and a pre-tax profit of VND150 billion in 2020, up 20 percent and 8 percent respectively.

Its total equity reached VND1.44 trillion ($62.58 million) as of the end of 2020.

In December 2020, the Union Bank of Taiwan also led a group of nine Taiwanese banks in an unsecured loan worth $85 million to SSI Corporation, Vietnam's leading securities company.