Under the terms of the Comprehensive Partnership Agreement, T&T Group, SHB and PV Power will synergize their capabilities for the development of an effective ecosystem to provide the best products and services at competitive price.

On November 21, 2023, in Hanoi, T&T Group, Saigon – Hanoi Commercial Joint Stock Bank (SHB) and Petro Vietnam Power Corporation (PV Power) sign the Comprehensive Partnership Agreement to form strategic partners during the operation and development.

Representatives of three parties at the Comprehensive Partnership Agreement Signing Ceremony

Mr. Do Quang Hien – Chairman of T&T Group’s Strategy Committee and Chairman of the Board of Directors of SHB Bank was confident that T&T Group’s powerful multi-industry ecosystem, SHB’s brand prestige and the invaluable experiences of PV Power – a major power producer in Vietnam would form a formidable synergy to promote each party’s competitive edges and exploit their domestic and foreign markets to deliver high quality products and services and better serve local businesses and the national economy.

Chairman of T&T Group’s Strategy Committee and Chairman of the Board of Directors of SHB Bank – Mr. Do Quang Hien delivered a speech at the signing ceremony

“The Comprehensive Partnership Agreement today lays the solid foundation for a sustainable and effective cooperation in the future between T&T Group, SHB and PV Power. We are committed with all our capabilities, experience, and competitive edges to accompany PV Power so that the three enterprises will grow exponentially and contribute more to the national socio-economic development “, stated Chairman Hien.

Mr. Hoang Van Quang, Chairman of the Board of Directors of PV Power honored the investment opportunities this Comprehensive Partnership Agreement would bring to parties involved. He believed that with T&T Group’s strength in developing power projects – especially green energy and renewable energy, combined with SHB – one of Vietnam’s leading commercial banks, each party’s competitive edges should be utilized for business expansion and the formation of strategic alliance in the nearest future.

PV Power Chairman – Mr. Hoang Van Quang honored the partnership with T&T Group and SHB

Facilitate the transition to sustainable energy

T&T Group and PV Power will intensively collaborate on R&D and funding energy projects, especially LNG power, wind power, solar power… in Vietnam, including legal agreements, technology solutions, gas supply, and project financing.

R&D on green hydrogen energy technology and identifying potential location for the project will be promoted to meet high demand of plants in commercial operation, to-be-built plants in line with the direction of the Government of Vietnam in recently approved Power Planning VIII.

In addition, PV Power will provide management, operation, maintenance and repair in clean energy projects developed by T&T Group; maintenance and repair of mechanical, electrical and refrigeration systems of T&T Group buildings and training for operating and maintenance personnel for T&T Group power plants.

Offer comprehensive financial solutions to customers

Under this Agreement terms, SHB will be chosen as PV Power’s preferred finance provider for account & capital management service, working capital loan, project financing, guarantees; employee banking service, deposit, business consultancy and other services.

The Bank commits to providing cash flow management services, deposit account, deposit account management, centralized cash management, payment services, and modern automatic cash collection
service.

Employees of PV Power, subsidiaries and affiliated companies will be offered SHB account number of choices combined with preferential package of banking fee, transaction limit and cash back to satisfy all demands. Furthermore, speedy lending and disbursement process have been enabled by streamlined documents and pre-approved/automatic approved loan on digital banking platform.

SHB, T&T Group and PV Power agreed to build product and service package that will make the best use of the three-party ecosystem to provide outstanding incentives for high-end customers and staff of each party and improve the nationwide distribution channels (agencies, sales agents, branches, representative offices). In addition, the three Parties will also deepen collaboration in IT, data mining and digital transformation in business as well as promote brands and charity activities…/.