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Banking News (March 19th, 2021)

Banking News (March 19th, 2021)

Saturday 20, 03 2021
Check out the news brief of the banking industry on March 19th, 2021.

+ In early March 2021, HDBank successfully signed a loan syndication contract worth USD 71 million (about VND 1,700 billion) with Mega International Commercial Bank, Taiwan. With the target customers of SMEs and FDI enterprises, including Taiwan, HDBank has attracted the interest of Mega Bank, which organized syndicated loan arrangements and invited other Taiwanese banks to join. 


+ FWD Vietnam has launched a unit-linked insurance product called "FWD - Raising the position", bringing superior benefits to customers when combining protection and investment in the same product. Accordingly, customers will be completely and permanently protected against two risks of Death and Injury, and can flexibly increase the benefits of protection against risks such as hospitalization, surgery, serious illness, accidents with diverse complementary products. 

+ From now to December 31st, 2021, BAOVIET Bank implements a financial solution package for corporate customers that buy automobiles for business with a preferential interest rate of only 6.99% p.a. Moreover, they are also entitled to competitive prepayment fees. BAOVIET Bank waives pre-payment penalty when the actual loan period reaches at least 70% of the loan term. 


+ National Citizen Commercial Joint Stock Bank (NCB) officially issues and converts from magnetic card to chip card with VCCS standard for the domestic debit card line. From March 8th, 2021, NCB stops issuing new magnetic debit cards and replaced them with contactless chip cards. Existing customers with magnetic cards will be supported by NCB to convert cards to chip cards for convenience in transactions. 

+ From March 8th, 2021, Sacombank implements the feature of remittance abroad via Internet Banking ( for legitimate purposes such as studying, medical treatment, family allowance, money transfer to heirs, business, settling down, payment fees, with a variety of foreign currencies such as USD, AUD, CAD, CHF, EUR, GBP, JPY, SGD, etc. and competitive fees. 


+ Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has launched a free money transfer package for customers using VCB Digibank service, receiving balance notifications via the VCB Digibank app, and maintaining a certain account balance. Accordingly, they will be free of charge for both internal and interbank money transfers when they have a monthly payment account balance of VND 4 million or more. If not, customers only need to pay a monthly fee of VND 20,000 - 25,000 to receive free money transfer fees inside and outside the Vietcombank system. 

+ From now to May 1st, 2021, Saigon - Hanoi Commercial Joint Stock Bank (SHB) launches a program "Free Lifetime - Full promotion" for new customers registering for Smore combo. Specifically, they get lifetime free 24/7 fast interbank money transfer without having to pay any fees, including account management fee as usual. Moreover, these customers can also join either of the two programs "Go to SHB now - Get nice account number" or "Perfect couple" and enjoy maximum offers from now until December 31st, 2021. 


+ The operating revenue of Viet Capital Securities in 2021 is expected to reach VND 2,050 billion, increasing by 18.5% compared to 2020. The total cost is expected to increase less at 2.8%, equivalent to VND 800 billion. The total pre-tax profit this year is expected to reach VND 1,250 billion with a growth of 31.4%. 


Compiled by VietnamCredit


Banking & Finance

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