Participants are seen attending the Conference on Access to Funds Resources and Investment Opportunity in Germany co-organized by VietinBank and VCCI in Berlin. The bank on Monday opened a branch in Berlin - Photo: Courtesy of VietinBank

Vietnam Bank for Industry and Trade, shortly known as VietinBank, on Monday opened a branch in Berlin, which is the bank’s second unit in Germany after its first branch in Frankfurt.

VietinBank’s board chairman Pham Huy Hung told the opening ceremony that the presence of the bank’s branch in Germany’s most populous city would foster and facilitate business development between Germany and Vietnam.

Germany is Vietnam’s largest trade partner in the European Union, with two-way trade volume last year hitting US$5.5 billion. Currently, there are nearly 200 German companies doing business in Vietnam, while the Vietnamese business community in Germany is also expanding strongly, he said.

One day prior to the opening of the Berlin branch, VietinBank coordinated with Vietnam Chamber of Commerce and Industry (VCCI) to organize in Berlin the Conference on Access to Funds Resources and Investment Opportunity in Germany.

VietinBank opened its Frankfurt branch on September 6, 2011.

The Saigon Times Daily