Recently, Orient Commercial Joint Stock Bank (OCB) has signed a comprehensive cooperation contract with Binh Duong Nutifood Nutrition Food Joint Stock Company (Nutifood) - one of the leading manufacturers and distributors of dairy products and nutritional foods in Vietnam with a nationwide distribution system and is one of the Top 10 reputable companies in the Food - Beverage industry announced by Vietnam Report JSC in 2021.
OCB will provide superior financial solutions and incentives for corporate clients (including private firms) who are Level 1 Distributors of Nutifood through services such as payment accounts, deposits, loan limits, and payment guarantees as a result of the inked partnership. Credit line loans, overdraft limitations, guarantees, and medium-term vehicle loans are all examples of flexible credit providing procedures.
“This financial solution will help Nutifood reduce payment risks for receivables; converting debt to cash quickly; saving money management costs, costs for tracking and debt collection; Checking the available limit at the bank before sending the goods to the warehouse for the supplier," added the OCB representative.
Particularly for the distributors, we will help the debt to be extended longer than the deferred payment term as agreed with Nutifood; ensure sufficient capital in peak season; increase sales by increasing inventory capacity, thereby increasing competitiveness with competitors and tightening cooperation relations with major suppliers/manufacturers and creating business efficiency for both parties.
OCB offers great incentives (*) to Nutifood's distributors in addition to smart financing solutions. Distributors will be financed at a rate of up to 100% of the value of the collateral for credit extension; the additional limit without collateral is up to 70 billion VND/distributor during peak season; the additional limit will be provided without collateral during peak season. For short-term loans, OCB offers a minimum interest rate decrease of 0.5% per year compared to ordinary clients. Distributors will receive a 50% reduction on the payment guarantee letter issuing charge, as well as free transactions with OMNI Corporate Customers.
(*) Discounts depend on customer groups
Along with the increasing trend of using fast-moving consumer goods products in Vietnam in recent years, especially food and beverages, OCB believes that through the cooperation with Nutifood and the implementation of suitable products, OCB will fully address the financial needs of the industry, reduce costs for businesses, and help distributors feel secure to focus on business development.
For more information, please contact hotline 18006678 (toll free), or the nearest OCB Branches/Transaction Offices for more detailed advice.