21 November 2012
21 November 2012: Gide advises VietinBank on major agreement with FIS for new banking platform
Gide Loyrette Nouel has advised Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on a major IT agreement with Fidelity Information Services (FIS) for the provision of a sophisticated new banking platform.
Under the Core Banking Solution Implementation Contract, FIS will deliver a new core banking platform to support VietinBank’s expanding consumer, corporate and international businesses, both in Vietnam and globally.
VietinBank, which is listed on the Ho Chi Minh Stock Exchange, is one of Vietnam’s largest banks, with total assets of over USD 22 billion as of December 31, 2011, accounting for more than 20 percent of the market share of the Vietnamese banking system. FIS is one of the world's largest providers of banking and payments technologies.
Gide advised VietinBank on all legal aspects of this project, and assisted VietinBank for the negotiation of the Core Banking Solution Implementation Contract with FIS. The Gide team, led by partner Thierry Dor (Paris), included Can P. Nguyen and Nguyen Huyen Tram, associates in Vietnam.