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Banking News (Week 25, 2021)

Banking News (Week 25, 2021)

Friday 25, 06 2021
Following is the news brief on Vietnam’s banking industry for the 25th week of 2021 compiled by VietnamCredit.

+ The National Payment Corporation Of Viet Nam (Napas) and 14 more banks have just launched the VietQR brand and the Fast money transaction service called Napas247. The transaction service is online and uses QR codes. VietQR is the brand shared among payment and transaction services made by QR code. The services are processed by Napas and member banks network, intermediaries, domestic and international transaction partners. VietQR works according to the QR payment standards of EMV Co. and the Basic standards for QR code issued by the State Bank of Vietnam.

+ VPBank continues to promote unsecured loan packages for small and medium enterprises (SMEs) with a credit limit of up to 3 billion VND and interest rates down to 2 percent a year. To receive instructions for unsecured loans, customers only need to register at:, then fill in basic information such as business name, tax code, the revenue of the latest year, etc.


Especially from now until the end of September 30, 2021, VPBank will also reduce interest rates by 0.5 percent to 2 percent a year compared to the current rate for SMEs.

+ The State Bank of Vietnam just issued an official document about raising Bac A Commercial Joint Stock Bank’s charter capital in 2021. Specifically, SBV approved of BAC A BANK’s increase of charter capital to 446.355.000.000 VND by the method of capital issue to pay dividends from the remaining after-tax profit of BAC A BANK in 2020 after appropriating funds approved by the General Meeting of Shareholders of BAC A BANK.


+ BAC A BANK just implemented a promotion for corporates. Money transferring through e-Banking will be free in two years for group 1, one year for groups 2 and 3. Customers of groups 1 and 3 can open accounts with desired account numbers for free. The promotion applies until December 31, 2021.

+ The State Bank of Vietnam has just decided to amend the content of charter capital in the License for Establishment and Operation of Saigon - Hanoi Commercial Joint Stock Bank (SHB). Accordingly, the SBV granted the Saigon - Hanoi Commercial Joint Stock Bank to be amended as follows: The charter capital of Saigon - Hanoi Commercial Joint Stock Bank is 19,260,488,370,000 VND.

+ Sacombank has just implemented a new promotion for its customers. Specifically, from June 14 to July 31, 2021, individual customers who make online payments by Sacombank card on Baemin, Grab Food, Tiki, Shopee, Lazada, Sendo, SBJ, etc., will receive a discount of up to 30 percent, the discount maximum being 200.000 VND per receipt. International payments on Internet Banking will be free of charge.


+ Sacombank has just cooperated with Visa to launch Visa Business Reporting (VBR) application to help businesses manage card spending transactions. Accordingly, Sacombank is free to use for 12 months for the first 290 businesses. In addition, this bank is implementing a free program every year for the first year when opening a new credit card or business payment card from now until July 25, 2021. In addition, 150 cardholders with the highest total transaction volume and eligibility for the program will be given a premium coffee machine.

+ Digital payment company Visa has partnered with Sacombank to provide small and medium-sized enterprises (SMEs) in Vietnam with advanced spending management tools designed to help SMEs manage their expenses more effectively. Visa allows SMEs to track budgets used, making it easy for businesses to manage cash flow and generate business expense reports quickly and accurately.

+ The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has just announced that it has successfully sold 600 billion VND of bonds, with a term of 7 years. This is a non-convertible bond, without warrants, unsecured, and a secondary debt of HDBank. The actual issuing interest rate for the first payment period is 7.775 percent a year, the interest is paid annually. The interest rate applicable to the next payment period will be the nominal interest rate.


+ HDBank is implementing the upgrade of Basel II standards to Basel III. Up to now, the bank has applied 2 LCR indexes - Liquidity Coverage Ratio (Liquidity Coverage Ratio) and NSFR - Net Stable Fund Ratio (Net Stable Fund Ratio) of Basel III. Particularly, the NSFR index has reached 150 percent, higher than the minimum level of 100 percent.


Compiled by VietnamCredit

Banking & Finance

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