Banking News (November 24th, 2020)

+ From now to January 10th, 2021, Vietnam Bank For Agriculture and Rural Development (Agribank) implements the promotion program "Register E-Bank - Receive gifts" for individual customers with a total prize value up to VND 800 million. Accordingly, individual customers having current accounts at Agribank and registering for Agribank’s E-Banking services (SMS Banking, E-Mobile Banking, or Internet Banking service) during the promotion will have opportunities to receive attractive prizes.

 
+ Asia Commercial Joint Stock Bank (ACB) and Sun Life Vietnam, a member of Sun Life Financial Group, have announced the signing of an exclusive cooperation agreement to distribute life insurance products for 15 years in Vietnam. Officially implemented from January 1st, 2021, this agreement will combine ACB's extensive distribution network with 371 branches across 48 cities and provinces with comprehensive, competitive, and quality life insurance solutions and optimal customer service of Sun Life Vietnam. 
 
+ The International Finance Magazine (UK) has announced Vietnam Maritime Commercial Joint Stock Bank (MSB) as the bank with the most innovative financial solutions for business owners in 2020 based on the assessment of the M-Business account package. This award affirms the bank's pioneering position in supporting the development of business owners through initiatives in specialized products and services with outstanding benefits.

 
+ Saigon – Hanoi Commercial Joint Stock Bank (SHB) has just launched the program "Preferential Interest - Happy Golden Birthday" with outstanding incentives for individual customers borrowing money in the whole system from now to December 31st, 2020. Accordingly, they can choose a preferential loan package with an interest rate of only 6.0% p.a. for customers mortgaging valuable papers. The fixed interest rate is only 6.5% p.a. when customers borrowing for short-term production and business. For medium and long-term borrowers, the preferential interest rate is only from 7.0% p.a. when borrowing for production and business, buying houses, and only from 7.3% p.a. when borrowing for buying cars and consumption.
 
+ The SBV has issued a Decision on amending the content of charter capital in the Establishment and Operation License of Military Commercial Joint Stock Bank (MB). Accordingly, the Governor approved to amend Article 2 of the Establishment and Operation License No. 100/GP-NHNN dated October 16th, 2018 issued by the Governor of the SBV to MB as follows: The charter capital of MB is VND27,987,568,720,000.
 
+ The SBV has issued a Decision on adding the content of the operation to the Establishment and Operation License of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank). Accordingly, the Governor approved to add the "Securities depository" to Point 2.4, Clause 2, Article 3 of the Establishment and Operation License No. 142/GP-NHNN dated July 3rd, 2009 issued by SBV to VietinBank.

 
+ From November 12th, 2020 to December 31st, 2020, customers who deposit online savings on the VPBank Online e-banking application for the first time will immediately receive a lucky draw. There are two special prizes, each of which is a high-class diamond worth VND 100 million and many other cash gifts and voucher codes. The total prize value of the program is up to VND 1.2 billion.
 
+ From now to February 5th, 2021, the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) launches the "Awakening the experience, Receiving marvelous incentives" promotion program for customers using Visa Sacombank corporate cards (including credit and payment cards). 15 enterprises with the highest credit card transaction value and 15 with the highest payment card transaction value will receive a Rimowa Classic Cabin travel suitcase of VND 27 million. The minimum transaction value in a statement period is VND 150 million for credit cards and VND 100 million for payment cards.
 
Translated by VietnamCredit