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Banking News (Week 20, 2021)

Banking News (Week 20, 2021)

Friday 21, 05 2021
Following is the news brief on Vietnam’s banking industry for the 20th week of 2021 compiled by VietnamCredit.

+ Home Credit Vietnam and Gojek Vietnam are running a program called "New mobile phone for mobile days" exclusively for Gojek technology car drivers. Drivers of this ride-hailing application will receive a 0% installment plan if buying in installments of OPPO phone lines in the program. The program will last from now until the end of May 30, 2021.

+ HDBank continues promoting the program to support pharmaceutical and medical equipment companies to help ensure the supply and stabilizing the prices of epidemic prevention and control products. Specifically, HDBank considers granting a guaranteed limit of up to 200% of the asset value as a deposit contract/passbook, or up to 150% of the asset value as real estate. HDBANK also grants a loan limit up to 120% of the asset value as a deposit contract/passing book; or up to 90% of the property's value is real estate; no need to manage the goods, etc.


+ Bao Viet Bank (BAOVIET Bank) and Bao Viet Securities Joint Stock Company (BVSC) have officially launched an electronic payment utility, helping BVSC's customers withdraw money to their bank accounts quickly. Besides, from now until the end of June 30, 2021, BAOVIET Bank will waive all withdrawal fees for BVSC customers. After this period, BVSC investors with accounts at BAOVIET Bank will continue to receive free withdrawals and double benefits when trading with Bao Viet.

+ From May 5 to July 31, 2021, the Southeast Asia Commercial Joint Stock Bank (SeABank - stock code SSB) will launch a promotion called "Use quality apps – Get ecstatic gifts". This promotion is applied for new customers opening and using SeANet/SeAMobie digital banking services, and for customers who introduce more new users. The promotion includes tens of thousands of attractive offers such as cash, eVoucher, iPhone 12 Pro Max, etc., with a total value worth more than 2 billion VND. The promotion will take place in three months, divided into three periods. Each period, SeABank will give 3,000 eVoucher gifts, each worth 50,000 VNDm to customers who open new accounts and make the earliest transactions on SeANet/SeAMobile.


+ According to the business results report for the first quarter of 2021, by the end of March 31, 2021, An Binh Commercial Joint Stock Bank (ABBANK) reached VND 465 billion in pre-tax profit, 4% higher than planned for the first quarter. Their total assets reached 97,899 billion VND. Besides, other business figures of the bank also continued to witness growth. Specifically, the credit balance reached 71,455 billion VND, equivalent to an increase of nearly 3% compared to the beginning of the year.

+ By the end of the first quarter of 2021, the total assets of Nam A Commercial Joint Stock Bank (Nam A Bank) reached more than VND 137,000 billion, an increase of 2.41% compared to the end of 2020. Their capital mobilization from individuals, economic organizations, and the issuance of valuable papers reached more than VND 111,000 billion, an increase of 5.53%. Other business indicators all had significant growth.

Nam A Bank

+ Vietnam Maritime Commercial Joint Stock Bank (MSB) announced the implementation of a credit package for import-export businesses with preferential interest rates and many utilities, including credit products, international payment, and foreign currency trading. Specifically, from now until December 31, 2021, import-export businesses that are MSB's customers will be able to borrow capital with interest rates from 6% a year for VND and from 3% a year for USD. Customers can also be financed with unsecured capital up to 90% of the contract value/export letter of credit. When using this credit solution, customers will receive a 30% discount on trade finance fees, international money transfers, and 100% free account management fees, Internet Banking services and electronic tax payment, electronic customs.


Compiled by VietnamCredit

Banking & Finance

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