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Banking News (Week 19, 2021)

Banking News (Week 19, 2021)

Friday 14, 05 2021
Following is the news brief on Vietnam’s banking industry for the 19th week of 2021 compiled by VietnamCredit.

+ HDBank continues to apply OCR technology and biometrics image recognition based on modern technology to digitalize the process of opening accounts at their counters. The information will be collected automatically based on the customers' ID papers. After only five minutes with a few simple steps on a tablet, customers can immediately own an account to use digital banking services (Internet banking, Mobile banking, SMS Banking, etc.) and ATM cards without having to fill out any paperwork.


+ Vietnam Maritime Commercial Joint Stock Bank (MSB) has just launched a comprehensive credit solution package for import/export businesses with preferential/competitive interest rates and many outstanding utilities. Specifically, from now to December 31, 2021, import/export enterprises that are MSB's customers will be able to borrow loans with interest rates of only 6% a year for VND and 3.0% a year for USD. This interest rate is competitive on the market for customers in the import/export business.

+ Southeast Asia Commercial Joint Stock Bank (SeABank) has launched a program called "Unlimited Transaction - Interest-Free Installments" for corporate customers using SeABank Visa Corporate credit cards. According to the program, SeABank will apply a 0% interest installment policy with a flexible term from three to 12 months for payments using the corporate credit card - SeABank Visa Corporate.

Southeast Asia Commercial Joint Stock Bank

+ Bao Viet Life Corporation and Petrolimex Petroleum Commercial Joint Stock Bank (PG Bank) have just officially signed a comprehensive cooperation agreement. Accordingly, from April 28, 2021, Bao Viet Life Corporation and PG Bank will prioritize each other as a partner to deploy potential cooperation segments and promise to bring mutual benefits. Both parties, including Cooperation in insurance distribution, providing banking services, and in collection/payment.

+ The world-leading credit rating organization Moody's has just announced a credit rating upgrade and a stable outlook assessment for the Maritime Commercial Joint Stock Bank (MSB) at the end of April 2021 review. Accordingly, the long-term local and foreign currency deposit and issuer ratings of MSB have been raised from B2 to B1, and the Prospects of these two categories are assessed as “Stable”. Basic Credit Rating (BCA) and adjusted BCA have been upgraded from b3 to b2. The Long-term local and foreign currency Counterparty Risk Ratings and Long-term counterparty risk assessment remained at B1 rating, unchanged from the previous report.

Maritime Commercial Joint Stock Bank

+ Sacombank is implementing many new financial incentives and solutions for corporate customers to increase benefits and optimize business performance. Specifically, from April 26, 2021, to July 25, 2021, businesses that open new Sacombank's corporate credit cards or corporate debit cards (collectively referred to as corporate cards) will receive an annual fee waiver. Especially, 150 corporate customers with the highest total transaction turnover and meeting the program conditions will receive a premium coffee maker.

+ National Citizen Commercial Joint Stock Bank (NCB) was honored in the Top 50 best-growing enterprises in Vietnam (FAST50). It is also the second consecutive year that NCB has entered this ranking.

National Citizen Commercial Joint Stock Bank

+ Standard Chartered Vietnam has just launched a loan program to buy environmentally friendly cars with preferential interest rates in the most attractive group in the market today. This program applies to cars with "hybrid" engines (engines with combined gasoline and electric motor), which meet emissions and fuel standards. The program includes flexible loan packages with interest rates that start from only 5.75% and will be adjusted from time to time. Specifically, customers can choose an interest rate of only 5.75% in the first 12 months, or 6.25% in the first 24 months, or 6.75% in the first 36 months.

Compiled by VietnamCredit

Banking & Finance

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