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Banking News (October 20th, 2020)

Banking News (October 20th, 2020)

Tuesday 20, 10 2020
Check out the news brief of the banking industry on October 20th, 2020
+ On October 14th, 2020, shares of LienVietPostBank were officially approved to be listed on Ho Chi Minh Stock Exchange (HOSE). Accordingly, a total of 976,948,319 common shares were listed on HOSE, corresponding to the total value of listed securities of nearly VND 9,769.5 billion. As a result, LienVietPostBank became the first bank with shares approved to be listed on HOSE this year.
+ The Vietnam Bank for Agriculture and Rural Development (Agribank) has just decided to further decrease the lending interest rate by 0.3%. According to Circular 39/2016/TT-NHNN of the State Bank of Vietnam, from October 1st, 2020, Agribank reduced the lending interest rate for 5 priority areas. Specifically, the short-term lending interest rate has a maximum of 4.5% p.a.; the medium and long-term lending interest rate has a minimum of 7.5% p.a.
Vietnam Maritime Commercial Joint Stock Bank (MSB) and BAOMINH Insurance Corporation signed a comprehensive cooperation agreement to bring superior products and services to customers while maximizing and exploiting the potentials of both parties, supporting mutual development. MSB has been cooperated with many prestigious partners in general and BAOMINH in particular, to connect values and “reach a new height” together.
BIDV Insurance Corporation (BIC) has just launched a promotion program applied to the purchase of insurance at the website. Specifically, from October 13th to October 20th, 2020, customers who buy insurance online at BIC will immediately receive a 20% discount on the comprehensive health insurance premium of BIC Tam An (applied to first-time customers buying health insurance at BIC) and a 25% discount on personal accident insurance and comprehensive private home insurance.
BIDV Insurance Corporation (BIC)
+ Mastercard and NAPAS have just officially completed testing the switching connection of domestic card payment transactions of Mastercard through the NAPAS switching system. NAPAS and Mastercard have also prepared technical conditions, commercial agreements, and expect to implement this program on a large scale with 17 member banks of Mastercard in Vietnam by December 31st, 2020.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Mastercard have cooperated with Amazon Web Services (AWS) to support small and medium enterprises (SMEs) in Vietnam to use the AWS cloud computing services. Accordingly, VPBank MasterCard - VPBiz cardholders will receive VND 2.3 million into their AWS accounts. Also, VTI Cloud, a senior partner of AWS, will offer a discount package of up to nearly VND 70 million when VPBiz cardholders use technical consulting services for various transactions, such as transferring Windows/SAP data from on-premise infrastructure to AWS cloud platform.
+ The Asian Banking & Finance (ABF) international magazine recently granted the “Best FX Provider in Vietnam 2020” award to the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). This was the third time for BIDV to receive this prestigious award.
+ From October 11th to October 25th, 2020, HD SAISON has implemented a special promotion program for female customers on many products with installment loans. Accordingly, female customers who use installment loans provided by HD SAISON for the purchase of motorbikes will be given cash gifts up to VND 500,000. Female customers borrowing cash will also receive a maximum incentive of VND 500,000.
Regarding electrical products including washing machines, air conditioners, refrigerators, televisions, or furniture, building materials, musical instruments, beauty, courses, tourism, HD SAISON will apply a preferential interest rate of 1.68%.
+ Bac A Commercial Joint Stock Bank (Bac A Bank) and Dai-ichi Life Vietnam jointly implement the promotion program "Gift Deals, Customer Gratitude" from October 1st, 2020 to the end of December 31st, 2020. Accordingly, customers who sign new life insurance contracts will receive an attractive gift corresponding to the actual insurance premium in the first period (minimum VND 5 million).
Bac A Commercial Joint Stock Bank (Bac A Bank)
+ At the “Annual Conference” Awards Ceremony recently held in Ho Chi Minh City, Eximbank was honored to receive the “Leading Licensee in Merchant Sales Growth” award from JCB, an international payment brand based in Japan. This was the second time in a row for Eximbank to receive the prestigious award from JCB.
+ An Binh Commercial Joint Stock Bank (ABBANK) has launched an attractive promotion program "Be Digital Citizen - Get Ditizen Gifts" for new registered customers. They would have the chance of winning the iPhone 11 Pro Max 64GB and other valuable gifts. The program is expected to last until November 22th, 2020.
Translated bt VietnamCredit
Banking & Finance

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