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Posts Tagged ‘Vietcombank’

Vietcombank to donate $50,000 more to SGGP charity program

In Uncategorized on July 29, 2010 at 11:18 am

Vietcombank has recently decided to contribute 20 more houses of gratitude and 200 additional scholarships, a total of VND1 billion (US$50,000), as part of stage 1 of Sai Gon Giai Phong’s charity program, Nghia Tinh Truong Son (Sentimental Attachment for Truong Son Road).

Logo of program Nghia Tinh Truong Son

20 houses, worth VND30 million (US$1,500) each and 200 scholarships, worth VND2 million (US$100) each will be offered to war invalids and martyrs’ families and students, who live in Ho Chi Minh City, Quang Ngai and Long An provinces.

Earlier, Vietcombank agreed to fund 600 houses of gratitude and 1,000 scholarships, worth total of VND20 billion ($1 million), to war invalids and martyrs’ families and local students, who live along Truong Son Road, which goes through 12 provinces such as Nghe An, Ha Tinh and Quang Binh.

Vietcombank also is funding the construction of two temples to commemorate the martyr Truong Son, at a cost VND20 billion ($1 million).

Vietcombank’s branches at twelve provinces along Truong Son Road disbursed money for building houses and grating scholarships since July 15-27.

SGGP and Vietcombank will complete stage one of the program by August 15.

SGGP has also prepared a gala night to launch stage 2 of the program, which is expected get underway in December.

Source: SGGP

SGGP, Vietcombank team up to help needy

In Uncategorized on March 24, 2010 at 3:23 pm

Vietcombank has announced it will work with Sai Gon Giai Phong to build 400 charitable homes and grant 1,000 scholarships to beneficiary families in 12 provinces along Truong Son road.

Through the charity program, called “Nghia tinh truong son” (Sentimental Attachment for Truong Son road), each province will receive 30 free houses for needy families and 100 scholarships for students.

Deputy chairwoman of the Vietcombank Labor Union, Truong Thi Thuy Nga, on March 23 said that SGGP and Vietcombank had agreed to fund VND40 billion (US$2.1 million) to build monuments, houses and grant scholarships to relatives of heroic martyrs in 12 provinces on Truong Son road.

To ensure the hand-over of the free homes to families on April 30, Vietcombank has asked its provincial branches to establish a steering committee to implement the project and directly disburse capital for the project.

Source: SGGP Bookmark & Share

Vietcombank set to reissue its debit cards

In Vietnam Banking Finance on January 11, 2010 at 5:56 am

Vietcombank will cancel and reissue its Connect24 debit cards in line with a plan by the State Bank of Vietnam to standardise the Bank Identification Number (BIN) system nationwide.

Between now and June 30, 2011, Connect24 cardholders will therefore be able to request new cards with Vietcombank’s updated BIN. During that time, they will also be able to continue using their old cards. But effective July 1, 2011, all cards issued under the old BIN will be terminated.

Connect24 holds the leading share of the domestic payment card market, with 4 million cards outstanding out of an estimated 17 million issued by all banks nationwide.

Vietcombank deputy director Dao Minh Tuan said that, before the central bank’s regulation was issued in 2007, each bank was allowed to select its own BIN. But, when many banks issued their own cards, BINs were repeated sometimes, creating problems for ATMs to recognise cards.

To deal with the problem, the State Bank ordered banks to co-ordinate BINs, with the central bank to provide a BIN for each bank. The new BINs include six figures, starting with 9704, with the latter two figures different from each bank.

About 30 banks have been issued new BINs and will also reissue their bank cards sometime before the end of June next year.

“The cost to reissue all debit cards on the market may reach 120 billion VND (6.4 million USD) or about 7,000-8,000 VND per card,” said a representative of Smartlink Card Services Joint Stock Co who asked to remain anonymous.

VP Bank deputy director Duong Thi Thuy said that standardising BINs was very necessary in Vietnam, renewing all cards at the same time would overload this system.

ABBank director of individual customers Dam The Thai said the bank had been reissueing cards with the correct BIN and that the number of outstanding cards using the old BIN was only 10,000.

ABBank would renew cards for free customers between now and the end of the year, he said.

Debit cards issued since 2008 have the correct BIN and about 1 million international cards, which have standardised BINs, will not need to be reissued.

Source: SGGP Bookmark & Share

Vietcombank enjoys bumper harvest of titles

In Uncategorized on August 1, 2008 at 3:10 pm

Asiamoney magazine has awarded the Joint-Stock Bank for Foreign Trade of Vietnam (Vietcombank) with the title “the best cash manager of 2008 in Vietnam ”.

The magazine says the award is in recognition of the bank’s creative solutions in cash management, best solutions in cash management related to liquidity governing, as well as the bank’s IT, online and post-sale services.

This is the second award from the regional magazine, with Vietcombank (VCB) taking home its first title as “the best domestic bank of 2008 in Vietnam ”.

But the accolades don’t stop there. VCB also won Trade Finance magazine’s “the bank with best commercial payment services in Vietnam for 2008” based on readers’ opinions.

In addition to international awards, VCB has won domestic customers’ confidence. In a survey conducted by the Centre of Customers and Entrepreneurs Research, VCB ranked among the top ten commercial bankers for customers satisfaction.

Vietcombank is the leading national commercial bank with a gross asset value estimated at 12.2 billion USD last year.

In its 40 years of operation, the bank has continually led the domestic sector in capital business, deposit mobilising, credits, project funding and card services.-