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ACB, Standard Chartered ink mutual support pact   2009-08-09 - Thanh Nien

The Asia Commercial Joint Stock Bank (ACB) and the Standard Chartered Bank (Vietnam) Ltd. signed Saturday an agreement that allows the latter to expand its banking coverage in Vietnam by using ACB’s branch network.

 

UK-based Standard Chartered said the agreement aims to provide cash management services to its corporate customers in the country. ACB’s network covers all major cities and provinces of Vietnam.

Standard Chartered’s corporate customers will be able to access ACB’s branches to make cash deposits or withdrawals.

The two banks also introduced a new cash management service called “Active Cash Collection,” which allows Standard Chartered’s corporate customers, as payees, to request the two banks to directly debit accounts of the payers who are customers of either bank.


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