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Manulife Vietnam enters into Bancassurance contract with Dong A (East Asia) Bank Ho Chi Minh City – In order to provide bank customers with enhanced financial services, Manulife Vietnam and East Asia Bank announced today that they have entered into a Bancassurance Agreement. Under the agreement, Manulife insurance products will be sold through the extensive branch network of East Asia Bank. Bancassurance services will first commence in selected Ho Chi Minh City bank locations starting June 12, 2003. The companies have agreed to extend services to all HCMC branches, and across the country, at the earliest opportunity. The bank’s professional sales force will directly advise customers who have life insurance protection and savings needs. In addition, customers will be provided with convenience in premium payments and effective ways to manage their financial and insurance needs. “As the first 100 per cent foreign-invested life insurance company licensed in Vietnam and the first to declare a profit, Manulife has a well established reputation as a leading life insurer in Vietnam with distinctive strengths in agency management and product innovation,” said David Matthews, General Director of Manulife Vietnam, at an announcement ceremony this afternoon “This bancassurance agreement marks a positive development in our business expansion strategy in Vietnam and is the first step of a long-term cooperation between Manulife and East Asia Bank. Customers of East Asia Bank can now enjoy the sophisticated benefits of convenient banking services, plus world-class life insurance products, all in a one-stop shop.” About Dong A (East Asia) Bank Dong A Bank is one of the largest joint-stock banks in Vietnam. Established in 1992 by well-reputed shareholding organisations in Ho Chi Minh City like Phu Nhuan Jewelry Company, Phu Nhuan Construction & House Trading Company, Financial Administration Department of HCMC Communist Party Committee, Dong A Bank has quickly proved its premier service quality in the principles of efficiency, security and stability. Dong A bank is currently operating through a nationwide network of branches and sales offices, providing a variety of diversified banking services to customers. About Manulife (Vietnam) Limited Manulife Vietnam – the first 100 per cent foreign-owned life insurance company in Vietnam – provides financial services to more than 200,000 customers through a network of more than 6,000 professionally qualified agents and staff. Manulife has been operating in Vietnam since June 1999. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$141.6 billion as at March 31, 2003. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. - 30 - For further information, please call: Hang Luu, Marketing Manager Manulife (Vietnam) Limited Tel: (84-8) 825 7722 Ext. 2502 Fax: (84-8) 825 7718 E-mail: Hang_Luu@manulife.com |
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