Hanoi, Vietnam, and Bologna, Italy, 16/07/2010 CRIF and the PCB Investment JSC signed a strategic partnership to develop a credit bureau in Vietnam.  PCB Investment Joint Stock Company (PCB) was established in December 2007 by 11 leading commercial banks in Vietnam with a charter capital of 50 billion VND. 

With the support of the International Finance Corporation (IFC) and after nearly 2 years of negotiation, PCB selected CRIF to be its official strategic partner.  The strategic partnership agreement between PCB and CRIF comprises 2 major parts: (i) agreement on CRIF to be PCB’s major shareholder, holding 20% of the shares, and (ii) agreement on CRIF’s handing over of its technical solution and expertise to PCB so that PCB can establish Vietnam’s first world class private credit bureau.  Source:  CRIF Press Release

BIIA Newsletter July II – 2010 Issue