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 and energy, and petrochemical refining.
With its position in the TOP 5 largest private 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. Conversely, 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 the Board of Directors of SHB Bank, Mr. Do Quang Hien, highly appreciated the development history and appreciated the great contributions of Binh Son Refining and Petrochemical Joint Stock Company to the country's socio-economic development. He shared: "With the available potential, strengths and aspirations of 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-economic development".
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 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.
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 commercial banks in Vietnam in terms of charter capital; TOP 10 most prestigious private commercial banks in Vietnam ranked by Vietnam Report; in the TOP 200 largest enterprises in Southeast Asia according to the rankings of the American magazine Fortune..., and is also a strategic partner of many large financial institutions 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.
SHB is implementing a strong and comprehensive Transformation Strategy based on 4 pillars: Reforming mechanisms, policies, regulations, and processes; People are the subject; Taking customers and markets as the center; Modernizing information technology and digital transformation and firmly following 6 core cultural values "Heart - Trust - Trust - Knowledge - Intelligence - Vision". SHB sets a strategic goal of becoming the TOP 1 Bank in terms of efficiency; The most favorite Digital Bank; The best Retail Bank and at the same time the TOP Bank providing capital, financial products and services to strategic private and state enterprise customers, with a supply chain, value chain, ecosystem, and green development.
Source: https://baolamdong.vn/shb-hop-tac-toan-dien-voi-ctcp-loc-hoa-dau-binh-son-383542.html
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