HCM City (VNA) – The Vietnam Posts Corporation (VNPOST) and HSBC will cooperate in providing banking services following a memorandum of understanding (MoU) signed in Ho Chi Minh City on August 26.

Under the MoU, VNPOST, via its nationwide network of post offices and subsidiaries, will provide collection and payment services for individuals or organisations having accounts at HSBC, raising HSBC’s total collecting points in Vietnam to 20,000.

VNPOST and the Hong Kong-Shanghai Banking Corporation (HSBC) will also seek opportunities to cooperate in offering inward and outward remittance services.

The MoU also includes agreements on marketing partnership, information exchange, and HSBC’s assistance to VNPOST in personnel training.-