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Banking News (Week 35, 2021)

Banking News (Week 35, 2021)

Friday 03, 09 2021
Following is the news brief on Vietnam’s banking industry for the 35th week of 2021 compiled by VietnamCredit.

The State Bank of Vietnam

In the context of the pandemic progressing complicatedly, the State Bank of Vietnam issued a circular to reduce 50% of transaction fees via the State Bank's Interbank Electronic Payment System from September 1, 2021, to the end of June 30, 2022, effective from 1st September 2021.

SHB

Saigon - Hanoi Bank (SHB) has signed agreements to transfer charter capital at Saigon - Hanoi Commercial Joint Stock Bank Finance Company Limited (SHB Finance) to the Bank of Ayudhya Public Company Limited (Krungsri) of Thailand - a strategic member of MUFG Group - Japan. Accordingly, when the two parties meet the requirements as prescribed by law and obtain the approval of the State Bank of Vietnam as well as relevant regulatory agencies of Vietnam, Thailand, and Japan; SHB will transfer 50% of SHB Finance's charter capital to Krungsri and will continue to transfer the remaining 50% after three years.

SHB

MSB

Vietnam Maritime Commercial Joint Stock Bank (MSB) has announced the auction of contributed capital in its subsidiary. Accordingly, MSB will publicly auction the entire value of MSB's contributed capital shares at Maritime Commercial Joint Stock Bank Asset Management and Exploitation Company Limited (MSB AMC) to divest and restructure the investment portfolio. private. According to the reviewed semi-annual financial report of 2021, MSB is contributing 100 billion VND of capital to AMC. In addition, the Bank is also contributing 100% of capital to Finance Company Limited For Community (FCCOM) with an amount of nearly 700 billion VND. MSB will also fully divest from FCCOM, instead of the plan to sell 50% as originally set out. There are currently 2-3 interested partners and the deal is expected to be completed in 2022.

MSB

BanViet Bank

Viet Capital Bank (Ban Viet Bank) developed a new digital banking application called “Digimi” in replacement of its Viet Capital Mobile Banking app, hoping to bring a better digital banking experience. The outstanding utility is the online savings deposit utility, with attractive interest rates, along with receiving books when needed.

HDBank

HDBank deploys the “HDBank BeMax" program with many preferential fees for businesses when transacting on the Digital Banking channel. With the HDBank BeMax program, HDBank will waive all fees for corporate customers including payment account management fee, eBanking annual fee, transaction verification fee via SMS, and domestic transfer fee via eBanking. In particular, businesses do not need to register to participate in this incentive program. Digital bank HDBank will scan information monthly on transaction frequency and balance to automatically apply a free package to each customer. The more transactions and balances, the more free transactions are.

HDbank

Sacombank

EY Vietnam Consulting Joint Stock Company has evaluated and concluded that Sacombank fully complies with the contents of the Basel II Accord in accordance with the provisions of Circular 41/2016/TT-NHNN and Circular 13/2018/TT - SBV. Thus, Sacombank has officially completed the implementation and application of the Basel II Accord.

VIB

VIB is offering more benefits to credit cardholders, such as 0% interest installment loans when paying tuition fees at language centers Wall Street English, Apollo English, Mathnasium, British Council. In addition, VIB is implementing the privilege of refunding up to 30% of credit card interest in August, September, and October to accompany cardholders to overcome the challenge of the pandemic. Besides, when accumulated spending via VIB credit card in August and September 2021 reaches at least 2.5 million VND, cardholders will receive a code to participate in the lucky draw celebrating the 25th anniversary of VIB.

VIB

Compiled by VietnamCredit

Categories
Banking & Finance

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