The relationship between the Sadec Group and Vietnam Eximbank traces back before the formation of the Sadec operations in Malaysia. The Sadec Group was involved in the early years of formation of Vietnam Eximbank, developing correspondent banking relationship with financial institutions in Singapore, Malaysia and certain Middle-Eastern and European countries.
Vietnam Eximbank was instrumental in promoting the formation of the Sadec Malaysian Consortium, formed with the intention of promoting investment and developing and enhancing bilateral trade between Vietnam and Malaysia. The joint effort has borne fruit and enhanced the ties between the two countries, even before the admittance of Vietnam into the Asean bloc.
Founded in November 1989, Vietnam Eximbank is a commercial joint stock bank, specializing in monetary and credit business and banking services to support the development programs of the production, processing of export goods and export-import businesses in Vietnam.
Apart from Hochiminh City Headquarters, Vietnam Eximbank now has three branches in Hanoi, Danang and Cantho, and a sub-branch in Cholon-Hochiminh City. Since its inception the bank has established correspondent banking relationship with more than 424 foreign banks in 49 countries enabling it to play an instrumental role in developing commercial financing and international trade. The bank is now expanding its correspondent banking relationship with banks in U.S. Most of its nostro accounts are with American banks or US-based banks because its customers have business mainly in US Dollar.