Overview of the signing ceremony of the comprehensive cooperation agreement between SHB Bank and Binh Son Refining and Petrochemical Joint Stock Company. (Photo: Vietnam+)
On July 23, Saigon-Hanoi Commercial Joint Stock Bank (SHB) and Binh Son Refining and Petrochemical Joint Stock Company ( BSR ) signed a comprehensive cooperation agreement, marking an important step forward in the relationship between two large enterprises in the fields of finance-banking, energy, and petrochemical refining.
With its position in the top 5 largest private joint stock commercial banks in Vietnam, SHB will provide BSR with the most comprehensive, flexible and effective financial solutions, maximally meeting capital needs, cash flow management, and promoting investment plans and sustainable development.
On the contrary, with its leading position in the petrochemical industry, BSR will be an important partner to help SHB expand its network, strengthen its presence, and connect with oil and gas and energy businesses. In addition, SHB and BSR will also cooperate in brand promotion activities, event organization, and cultural and sports exchanges to promote cohesion and spread corporate values.
Speaking at the event, Chairman of SHB Board of Directors, Mr. Do Quang Hien highly appreciated the development history and respected the great contributions of Binh Son Refining and Petrochemical Joint Stock Company to the country's socio-economy.
Mr. Hien shared: “With the available potential, strengths and aspirations of dedication from both sides, SHB commits to accompany BSR in the upcoming journey, providing optimal financial products and services, bringing practical benefits to both sides, while contributing to the overall development of the country's socio-economy”.
Responding to the expectations of SHB Chairman Do Quang Hien on the cooperation between the two sides, at the signing ceremony, Mr. Bui Ngoc Duong - Chairman of BSR's Board of Directors emphasized: “As a leading enterprise in the field of petrochemical refining, BSR always identifies finance - banking as one of the pillars supporting sustainable development and competitiveness. We highly appreciate the capacity, reputation and companionship of SHB over the years, and believe that, with a strong financial foundation and strategic vision, SHB will be a reliable partner of BSR in the journey of transformation, investment expansion and innovation acceleration. The cooperation between BSR and SHB today not only aims at financial efficiency, but also contributes to creating sustainable value for both sides - in the spirit of companionship, sharing and development for common interests.”
BSR is the unit that manages and operates Dung Quat Oil Refinery - a national key project, playing a pioneering role in laying the foundation for Vietnam's petrochemical industry. With the mission of providing high-quality petrochemical products, BSR not only makes an important contribution to ensuring national energy security but also acts as a driving force for sustainable socio-economic development in the Central region.
Ms. Ngo Thu Ha, General Director of SHB Bank and Mr. Nguyen Viet Thang, General Director of Binh Son Refining and Petrochemical Joint Stock Company at the ceremony. (Photo: Vietnam+)
Accumulated from 2009 to the end of June 2025, BSR has produced more than 100 million tons of products, with total revenue of more than 1.74 million billion VND and paid 238,000 billion VND to the State budget. In 2025, BSR identified it as a breakthrough year in investment, science and technology, innovation and digital transformation, while enhancing corporate culture.
Currently, BSR is implementing the Dung Quat Oil Refinery Upgrade and Expansion Project with a total investment of more than 1.2 billion USD, of which loan capital accounts for about 70%. The project has a huge capital demand in the period of 2025 - 2028, mainly for equipment procurement, construction and infrastructure completion, to increase processing capacity, expand product structure and meet green - clean fuel standards.
With SHB, after more than three decades of construction and development with the criteria of sustainable, safe and effective operations, the Bank has achieved many achievements, leaving its mark and strong position in the Vietnamese financial market, while gradually reaching out to the world market.
SHB is currently in the top 5 largest private joint stock commercial banks in Vietnam in terms of charter capital; top 10 most prestigious private joint stock commercial banks in Vietnam ranked by Vietnam Report; in the top 200 largest enterprises in Southeast Asia according to the ranking of American magazine Fortune... and is a strategic partner of many large financial organizations in the world such as IFC, ADB, WB...
Over the years, SHB has strengthened strategic and comprehensive cooperation, providing products, services and financial solutions to many large enterprises, including PV Power; Vietnam Airlines; Vinaphone, EVN, Vietnam Steel Corporation... Through cooperation, SHB and the parties will combine their strengths to create a high-quality partner ecosystem, bringing the best products and services at the most competitive prices to customers./.
Source: https://www.vietnamplus.vn/shb-hop-tac-toan-dien-voi-cong-ty-co-phan-loc-hoa-dau-binh-son-post1051597.vnp
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