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Banking News (Week 24, 2021)

Banking News (Week 24, 2021)

Friday 18, 06 2021
Following is the news brief on Vietnam’s banking industry for the 24th week of 2021 compiled by VietnamCredit.

+ On June 9, 2021, the development finance institution DEG - a subsidiary of the KfW Group of Germany, has cooperated with HDBank to open the German Desk in Vietnam. This is the seventh service point of this institution in the world. As for HDBank, this is the third specialized service for foreign corporates after the “Japan Desk” and the “China/Taiwan Desk”.


+ Agribank cooperated with VNPAY to implement the online shopping promotion on the E-Mobile Banking app of Agribank. Specifically, from now until June 30, 2021, customers who apply the “AGRIBANK06” code will enjoy a discount of 10% for each online purchase at the Vnshop e-market that is paid on Agribank E-Mobile Banking. The discount comes up to 50.000 VND maximum.

+ Agribank deployed a big promotion for customers who register and activate new Agribank E-Mobile Banking account. The promotion offers many attractive prizes with a total value of up to 1.1 billion VND. Specifically, from June 8 to August 2 of 2021, each week, customers who successfully register and activate the Agribank E-Mobile Banking account will receive a code to participate in the lucky draw.


+ The Kien Long Commercial Joint Stock Bank (Kienlongbank) has implemented two credit packages simultaneously with a competitive interest rate from only 7.0% a year, applied from now until December 31, 2021.

The “Kienlongbank accompanying import-export corporates” package worths 500 billion VND, applies to corporate customers to supplement short-term working capital for import-export business activities. The interest rates are only from 7.0% a year for VND and 2.8% a year for USD. Customers are allowed to borrow up to 80% per value of the collateral.

The “Preferential Loan – Competitive Interest” package worths 800 billion VND, applies to corporate customers to supplement working capital for production and business activities. The interest rate is from 7.5% a year for VND.

+ Techcombank and Masan have just introduced the one-stop service called CVLife (Convenient Life). Specifically, when customers make purchases at Vinmart shopping places, they can easily use Techcombank services. With CVLife, customers can perform bank transactions such as money transferring, deposit-withdraw cash, issue card, register for e-banking services when shopping at Vinmart.


+ The National Payment Corporation Of Viet Nam (Napas) waives all switching fees for NAPAS 24/7 quick transfers. All NAPAS 24/7 quick transfers to the COVID-19 Vaccine fund of the Ministry of Finance at BIDV bank will be free of charge from June 4, 2021, until there is an official announcement from the Government to end/stop implementing the Vaccine fund.

+ VPBank has become the first and only bank to apply digital technology to approve car loans for customers. Specifically, at any showroom nationwide, customers with needs for buying cars will only have to provide basic personal information to car salesmen, VPBank will immediately send the loan approval result through the RACE digital approval system. When buying cars through VPBank’s loan, there will be no application fee.


+ Sai Gon - Ha Noi Commercial Joint Stock Bank (SHB) continues to issue certificates of deposit for the first phase of 2021 for individual customers at transaction points nationwide. Specifically, with the minimum amount of 100,000 VND, customers can easily buy certificates of deposit and enjoy attractive interest rates. For a 6-year term, the first-year rate will be 7.0 percent a year; for an 8-year term, the first-year rate will be 7.2 percent a year. Interest rates of the following years will be adjusted appropriately, ensuring its competitiveness in the market.

+ BAOVIET Bank and the BAOVIET Life Corporation (BAOVIET Life) have just introduced a life insurance payment function on the BAOVIET Smart application. The function comes with a chance of refund for customers. From June 3 to July 2, 2021, BAOVIET Bank implements a promotion that will offer customers a chance to receive a refund of up to 1 million VND when paying life insurance through the BAOVIET Smart application.


+ From now until August 31, 2021, Sacombank will deploy a promotion in line with the anniversary of one-year cooperation with Tiki. The promotion applies for newly opened Sacombank Tiki Platinum accounts, Specifically, first-time users will be awarded a 100% annual fee for their first year when they have made transactions worth 2 million VND on Tiki/Ticket Box or These transactions should be within 30 days counting from the activation date.

Compiled by VietnamCredit

Banking & Finance

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