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Banking News (March 24th, 2021)

Banking News (March 24th, 2021)

Wednesday 24, 03 2021
Check out the news brief of the banking industry on March 24th, 2021.

+ VietinBank has officially launched three packages of "Zero fees" payment account, including Smart, Basic, and Plus. Specifically, customers participating in these payment account packages can enjoy the preferential service fees exemption, such as free account maintenance, free maintenance of VietinBank iPay Mobile, free maintenance of account information change service via OTT/SMS, free transfer transaction inside/outside the system on iPay with transaction limit up to VND 15 billion each day. 


+ From now to May 18th, 2021, when customers make a successful payment using NFC feature with Sacombank Visa card on Sacombank Pay app, they will be refunded 10% of the bill value (maximum VND 100,000) for the first bill, 20% of the bill value (maximum) VND 200,000) for the second bill, and 30% of the bill value (maximum VND 300,000) for the third bill. The program applies to the first 1,000 customers of each promotion category. 

+ NCB has just issued and converted magnetic cards to chip cards with VCCS standards for domestic debit cards. Accordingly, all NCB domestic debit cardholders will enjoy free fees for changing magnetic cards to chip ones. The chip card integrated with the Contactless payment method gives customers a better service experience and quick, easy transaction. This payment method is especially convenient at supermarkets, convenience stores, fast-food restaurants, cafes, petrol stations, public transports, etc.


+ HDBank has continued to reduce interest rates for Swift SME package by VND 5,000 billion, only from 6.2% p.a., to support small and medium enterprises (SMEs) to add feasible financial options, restructure production and business in the new year. 

+ HDBank has just launched the program "Opening a business account - Get instant preferential fees". Accordingly, corporate customers with foreign-invested capital (FDI) opening new accounts will enjoy exemption or reduction of service fees worth VND 10 million. Domestic corporate customers opening new accounts and existing corporate customers re-activating their accounts will enjoy exemption or reduction of service fees worth VND 5 million and VND 3 million, respectively. The program is implemented until December 31st, 2021. 


+ LienVietPostBank has just received the "Top 10 banks with the largest volume of Matching transactions in Vietnam forex market 2020" awards, granted by Refinitiv - one of the largest providers of financial market data and infrastructure in the world, under LSEG (London Stock Exchange Group). 

+ The State Bank of Vietnam (SBV) has issued a Decision on supplementing the operation content in the Establishment and Operation License of Tien Phong Commercial Joint Stock Bank. Accordingly, the Governor approved the supplement of operation content "Supply derivative products for commodity prices" in Point d, Clause 2, Article 3 of the Establishment and Operation License No. 123/GP-NHNN dated May 5th, 2008 granted to TP Bank. 


+ The SBV has just issued a Decision on amending the content of the Establishment and Operation License of Saigon Thuong Tin Commercial Joint Stock Bank. Accordingly, the Governor approved to amend Clause 2 Article 1 of this License No. 111/GP-NHNN dated November 9th, 2018 granted to Sacombank as follows: Head office address: 266- 268 Nam Ky Khoi Nghia, Vo Thi Sau Ward, District 3, Ho Chi Minh City. 

+ According to Refinitivi, HDBank is ranked 5th in the Top 10 banks with the largest transaction volume on the FX Matching system in 2020 in the Vietnamese market out of a total of 33 banks participating in the transaction. 

+ ACB expects the 2021 pre-tax profit to reach about VND 10,602 billion, increasing by more than 10% compared to 2020. Total assets are expected to increase by 10% to over VND 488,000 billion, of which, customer deposits will increase by 9%. Credit is set to increase by 9% (adjusted according to the credit growth limit granted by the SBV), and the bad debt ratio will remain below 2%. 



Compiled by VietnamCredit

Banking & Finance

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