Premier League champions Manchester United have struck their first financial services agreement in Vietnam, signing a five-year sponsorship deal with Hanoi-headquartered bank BIDV, reports SportsPro. The deal will see the BIDV develop a Manchester United credit card, which will include a number of benefits including prize draws, product giveaways and club discounts, as well as a debit card that will be available early next season.
According to an official press release, the Red Devils have 26.5 million followers in Vietnam.
The agreement further broadens the 20-time English champions' commercial portfolio, which includes financial services agreements that span 12 countries.
Based on the value of similar regional deals, BIDV's sponsorship is likely to be worth between UK£1 million and UK£2 million annually.
Manchester United commercial director Richard Arnold said: "Vietnam is a very important country for Manchester United. The club is lucky enough to have a large and very passionate set of fans there, with some 30 million supporters watching the team on TV last season.
"Some 10 per cent of the country's total Facebook users are also a Manchester United Facebook follower and the club has a database of over 2.4 million Vietnamese fans who have registered their interest in United.
"We are very pleased to be able to work with BIDV to offer them this great new product, a first for both the banks and club in Vietnam. With more than 120 branches, 600 transaction offices as well as over 1300 ATM's in 63 cities, BIDV has the right amount of presence around the country to be able to connect with our fans.
"We know from the other financial services sponsorships we have around the world that fans find this a great way to engage with the club, with deals putting hundreds of thousands of cards in the hands of United fans within weeks of being available. BIDV shares many of the same values of Manchester United, such as striving to be pioneers in its industry whilst respecting its history and traditions. Everyone at the club is looking forward to a successful partnership."