The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) is cooperating with e-commerce giant Amazon to facilitate cross-border trade with a number of support policies, according to a representative of the bank.
The lender is offering exporters and importers a credit limit of up to US$100 million, with interest rates cut by 1 per cent, in a move to help Vietnamese businesses reach out to the EU and US markets.
Notably, HDBank also reduces cash transfer and foreign currency selling fees for enterprises who trade on Amazon.
The bank is also accelerating digitalisation of its paperwork, using a set of digital tools, including eAccount that allows corporate customers to open a bank account online, eCredit enabling customers to get a loan online at any time of the day, eLC for online issuance of Letters of Credit (LCs), eTT for transferring money abroad online, and eFEX for selling foreign currencies online. — VNS
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