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Banking News (Week 26, 2021)

Banking News (Week 26, 2021)

Friday 02, 07 2021
Following is the news brief on Vietnam’s banking industry for the 26th week of 2021 compiled by VietnamCredit.

+ HSBC Vietnam just received the 2020 Vietnam Best International Bank award by FinanceAsia, a creditable magazine in the field of finance – banking in Asia. That is the 15th time in 16 years that HSBC was honored with this award.

+ The State Bank of Vietnam has approved for Southeast Asia Commercial Joint Stock Bank to increase charter capital in 2021. Specifically, SeABank is allowed to increase charter capital by a maximum of 2,697 billion VND by issuing shares to paying dividends from retained earnings in 2020 after setting aside funds, issuing shares to existing shareholders, and issuing ESOP shares to employees.


+ From June 21 to August 1, 2021, Home Credit Vietnam will launch a lucky draw promotion with attractive prizes. During this promotion, customers visiting or using the Home Credit Vietnam application will be automatically awarded one turn on the lucky draw. Prizes include phone cards that worths 20.000 VND, 50.000 VND, or discount codes on Home Credit's loan that worths 20.000 VND.

+ Agribank has just upgraded the preferential loan package for customers affected by the COVID-19 to 200.000 billion VND. The package serves to help customers overcome hardship and stabilize their business. Based on the extent of the impact of the pandemic, customers can access reduced interest rates. Short-term loans reduction will be 4.5 percent a year, medium and long-term loans reduction will be 6.5 percent a year, equivalent to 2 percent - 2.5 percent lower interest rates for normal loans. The preferential lending interest rate in USD will be 2 percent a year for short-term loans and 4.5 percent a year for medium and long-term loans. The time to apply the preferential loan interest rate is up to 6 months from the disbursement date.


+ From June 18, 2021, Sacombank launched preferential capital worth up to 10,000 billion VND, with a maximum loan term of 6 months to accompany exporters and support small businesses to overcome difficulties in production and business activities. The target customers of this capital source are enterprises from micro to large, using services at Sacombank such as e-banking, salary payment, guarantee, international payment, etc. The interest rate fluctuates from 4 percent a year to 6.7 percent a year depending on business lines, operation scale, loan term, and level of transaction connection with Sacombank.

+ PVcomBank just deployed many attractive offers for PVcomBank Mastercard owners. PVcomBank launched a promotion that brings smart spending solutions to customers. In addition, from now until the end of August 29, 2021, credit cardholders who pay insurance renewal fees via PVcomBank Mastercard will also receive a refund of up to 1 million VND to their accounts. These additional benefits help users save a lot of costs while still ensuring even increased benefits when buying insurance.


+ The Saigon – Hanoi Commercial Joint Stock Bank (SHB) has just implemented a Payment package with many attractive incentives. For example, transfers made by Ebank will be free of charge. The package has three types, which are Basic, Gold, and Diamond. When using the package, customers can save up to 80 percent compared to registering services separately. Besides, customers only need to register once to use transaction services online and at counters for life.

+ The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) officially launched the online account opening service with breakthrough technology, helping customers to open accounts anytime, anywhere, without being limited by space and time. Vietcombank's new service uses the eKYC (Electronic Know Your Customer) online identification solution. Customers only need to download the Vietcombank application on App Store/Google Play app markets, enter phone numbers, take a paper photo. ID card, face authentication is an account to use immediately.


Compiled by VietnamCredit

Banking & Finance

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