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Banking News (Week 34, 2021)

Banking News (Week 34, 2021)

Friday 27, 08 2021
Following is the news brief on Vietnam’s banking industry for the 34th week of 2021 compiled by VietnamCredit.

VIB

 Vietnam International Bank (VIB) officially expanded the application of a completely online limit approval and card issuance process for all credit card lines, allowing customers to open cards at home and start spending right away with a credit limit of up to 200 million VND. For customers who open new credit cards in August and September 2021, VIB will refund up to 1.5 million VND if customers reach a spending level from a minimum of 5 million VND within 45 days from the date of card opening. For the Online Plus 2in1 card, cardholders will be refunded 100% of the annual fee when spending via Grab from 1 million VND within 30 days from the date of card opening. Cardholders who meet the conditions of the CitiZen program will enjoy a free annual card for life and cashback up to 3 million VND. Besides, when the spending accumulated through VIB credit cards in August and September 2021 reaches from 2.5 million VND, cardholders will have the opportunity to own a Mercedes Benz C180AMG-2021 and have a lucky draw code immediately.

VIB

OCB

To increase utilities for customers, reduce costs and limit contact during the complicated pandemic situation, OrientCommercial Joint Stock Bank (OCB) has applied eKYC technology to open a salary payment account online on the OCB OMNI application, successfully deployed in the first quarter of 2021. Employees of enterprises registered for OCB's salary payment products can now open an online account to receive salaries on the OCB OMNI digital banking application through the form of eKYC instead of having to go directly to OCB's transaction counters or meet directly with sales staff to register. The process is fast, convenient, and can be done anytime, anywhere.

OCB

VPBank

VPBank officially implemented online payment on the national public service portal. Accordingly, from August 12, 2021, people can pay online service fees on the National Public Service Portal through VPBank, including payment of social insurance; fines for road traffic violations; fees, charges, and other financial obligations at public administrative agencies. As for the payment of fines for traffic violations, people can pay online via VPBank and get their vehicle documents back at the sanctioning agency or receive results at home through the public postal service of the Corporations of Vietnam Post Office (VNPost). For the payment of fees, charges, and other financial obligations at public administrative agencies, VPBank has supported the online fee payment corresponding to the capacity of each province/city, for example, fees for the following services: issuance of criminal record cards, change of driver's licenses, issuance of permits to build separate houses, etc.

VPBank

+ VPBank launches an online appointment booking service for customers coming to the bank during the pandemic. With VPBank's Booking Online service, customers are served according to the pre-registered schedule. They can also prove the purpose of participating in traffic with the authorities promptly during the COVID-19 period, ensuring the Government's distancing requirements. VPBank deployed Booking Online service in all branches and transaction offices in major cities such as Hanoi and Ho Chi Minh City. The service comes with a series of popular transaction activities such as deposits and withdraws cash; Account opening, e-banking; Change personal information; Confirm balance/statement/sub book/invoice; Deposit/withdrawal, etc. Accordingly, just by accessing the VPBank NEO app (go to the Support section); or scan the QR code, or visit the website https://bookingonline.vpbank.com.vn/booking/, customers can easily book a working schedule at the bank in advance with specific service needs, time and location of the branch suitable for them.

BIDV

BIDV spends 1,000 billion VND to support interest rates on loans to businesses in 19 southern provinces and citiesof Vietnam. Accordingly, BIDV implements specific interest rate support programs as follows:

- Reduce 0.5 - 1.5%/year VND lending interest rate for existing outstanding loans arising until July 15th. 2021 for businesses whose production and business activities face difficulties due to the impact of the COVID-19. The maximum reduction is for loans that are heavily affected in areas such as traffic, transportation, healthcare, education, accommodation services, restaurant services, hotels, resorts, etc. BIDV's budget provides support for existing outstanding loans, applicable to all terms, up to 800 billion VND. In particular, customers who have been applied with other preferential loan interest rate policies will continue to be supported by BIDV in this program.

BIDV

- Deploying a new credit package with a scale of 30,000 billion VND, applicable to short-term loans with a maximum loan term of 12 months, with an interest rate reduction of up to 1.5%/year compared to the normal interest rate. It is expected that the support resources for this credit package will be about 200 billion VND.

VietinBank

VietinBank (CTG) is looking for a strategic partner with the desire to reduce the capital contribution at VietinBank Securities (Vietinbank Securities, CTS) by about 15%, the ownership ratio is reduced from 75.6% to over 50% of CTS' charter capital. At the same time, VietinBank is also gradually completing the recovery of capital contribution at fund management company VietinBank Capital from 950 billion to 300 billion. The bank is also applying for approval from the State Bank to divest 50% of VietinBank Leasing's capital, expecting it can be done by the end of this year.

VietinBank

+ Vietinbank Insurance – VBI combined with GrabInsure to launch VBI Easy health insurance with a total special insurance benefit of up to 166 million VND. If the customer has to be treated for COVID-19, VBI Easy will assist to pay the medical costs for the treatment of the underlying disease. When participating in VBI Easy health insurance, customers will be paid for medical expenses such as inpatient treatment, surgery due to illness and accidents up to 60 million VND/year; Outpatient treatment up to 1.2 million VND/visit and up to 6 million VND/year; Death, total permanent disability due to illness or accident is up to 100 million VND. In addition, children from 1 to 6 years old are insured independently, or with their parents; When buying with parents, the child's insurance premium is reduced by 23% to 4,454,000 VND. When buying VBI Easy insurance on the Grab app, customers will enjoy all the privileges of VBI's indemnification services, such as the 24/7 hospital fee guarantee service at more than 300 medical facilities across the country with insurance settlement time. Fast receipt of up to 30 minutes for outpatient treatment; Pay claims online super fast using My VBI app within five working days.

 

Compiled by VietnamCredit

Categories
Banking & Finance

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