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Banking News (January 27th, 2021)

Banking News (January 27th, 2021)

Wednesday 27, 01 2021
Check out the news brief of the banking industry on January 27th, 2021.

+ Vietnam National Payment Joint Stock Company (NAPAS) will launch domestic credit cards and domestic prepaid cards. Previously, NAPAS cooperated with seven bank members including ACB, HDBank, Sacombank, VietinBank, Viet Capital Bank, BAOVIET Bank, and VietBank to complete the pilot phase of the two domestic card products above. This is also the move to continue converting chip cards, according to the roadmap in Circular 41/2018/TT-NHNN, regulating the banking card operations and diversifying domestic chip cards under Basic Standards, issued by the State Bank of Vietnam (SBV).

+ Post and Telecommunication Finance Company Limited (PTF) has added many new forms of the flexible cash loan product package "Need Instant Money". The cash loan limit is from VND 10 - 100 million; the competitive interest rate is from 2.9%; the loan term is from 12 to 36 months. The package will be an effective financial fulcrum without collateral assets for people with an income of above VND 3 million during Tet 2021.

+ From now to February 11th, 2020, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) cooperates with NAPAS to implement a preferential program for individual customers. Specifically, individual customers receiving new E-Partner Contactless VIETINBANK NAPAS chip cards, E-Partner Contactless Premium VIETINBANK NAPAS chip cards, and/or converting from magnetic cards to the chip cards mentioned above will be free of charge for new issuance, equivalent to VND 50,000 free per card including VAT. 


+ From January 21st, 2021, Saigon - Hanoi Commercial Joint Stock Bank (SHB) launches a promotional program "SHB - Tan Suu Tan Loc" in the whole system. Accordingly, SHB will give attractive gifts with a total value of VND 5 billion to individual customers saving deposits of VND 10 million with a term of 6 months or more, under the categories of ladder savings, monthly/quarterly interest payment savings, smart savings, and deposit contracts. 

+ Eximbank has launched Priority service with Eximbank - Priority Visa Signature international credit card exclusively for the priority customer segment. With the message "Experience the difference", customers will be given priority to be served fastest in a luxurious, classy, and unique space at Eximbank's units nationwide. Priority service is now in operation with the first pilot in Eximbank Ho Chi Minh City. In the fourth quarter of 2021, this service will be deployed in the nationwide system.


+ In 2021, Sacombank debit cardholders will get cashback for all transactions when making payments, shopping online, or paying via POS machines. Accordingly, customers will get 1% cashback for international transactions and 0.5% cashback for domestic transactions. The offer is valid for the first transaction of the day with the value of above VND 2 million. Each customer is entitled to a maximum cashback of VND 18 million during the program period. This month's cashback amount will be transferred to the customer's checking account on the 15th - 20th day of the next month.

+ From now to March 14th, 2021, VPBank launches the program "Welcoming a prosperous spring, welcoming the lucky money" with more than 140,000 valuable gifts for customers satisfying the conditions for each type of product and service of the bank. The total value of the program is more than VND 3 billion. Accordingly, for every online saving of VND 20 million or every transaction at the counter of VND 200 million, all new customers will receive one lucky turn with a 100% chance to win. The prizes include two special prizes "Lucky Golden Buffalo" worth VND 50 million VND/prize, and cash, discount voucher codes.


+ From January 18th to April 30th, HDBank launches the preferential program "Welcoming a prosperous spring - Receiving billions of money" to celebrate the new year 2021. The program is for individual customers nationwide with deposit savings of above VND 10 million with a term of one month or more. 

+ The Governor of the SBV has issued Decision No. 22/QD-NHNN amending the content of the Establishment and Operation License of Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank). According to this Decision, Article 2 of the Establishment and Operation License No. 91/GP-NHNN dated March 28th, 2008 issued by the SBV Governor to LienVietPostBank was amended as follows: "LienVietPostBank's charter capital is VND 10,746,389,150,000". 


Translated by VietnamCredit

Banking & Finance

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