Vietnam’s An Binh Joint Stock Bank and the Bach Viet Technology and Investment Corp (BTI) signed a strategic partnership Wednesday.
AB Bank will pick up a 5% stake in BTI for an undisclosed amount, sit on its management board, and provide financial and banking services.
It became the second bank to tie up with BTI after the state-run Vietnam Bank for Agriculture and Rural Development (Agribank) recently inked a deal with it.
Bach Viet produces CD and DVD disks at a plant in the My Xuan A Industrial Zone in southern Ba Ria – Vung Tau province near Ho Chi Minh City.
It holds 40% of the domestic market share and exports to countries like India and Cambodia.
It makes 170 million disks a year and reported a turnover of VND290 billion (US$18 million).
The company targets revenues of VND350 billion this year.
Source: Thanh Nien Equity Vietnam
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