A quick sip of Personal Banking coffee, ends July 2008
Category: How Finance is analyzed Add commentsJuly 2008 witnesses a boil in personal banking services in Ho Chi Minh City.
1. Many banks have been aggressively expanding their ATM network.
Dong A Bank’s CEO just claimed that their ATM network is second to Vietcombank’s in Vietnam. And this is true. The navy shade of Dong A ATM can found spotted on many corners along main streets.
Following right after Dong A are the light-blue ACB, the red-blue Vietinbank and another red-blue BIDV.
2. ANZ does like no other with their impressive home banking service
ANZ banking consultants provide consulting services at customers’ home on calls and free of charge.
3. HSBC eventually accelerated in their personal banking expansion
Their target is the mid-high income class with salary from $1,000 up. The ATM network also grew steadily with over 100 ATMs. [Link]
4. Interest rate for VND rised to nearly 19%
Was it innovation or experience?
In the context of financial difficulties in Vietnam in recent months, many banks especially foreign-invested have made bold moves. Some of them might be perceived as innovative. However, these practices are hard results from the experience of their long histories in more developed markets.
What next?
Welcoming August 2008, the goggles shall continue to be on CPI, the fluctuating stock market and especially gold. Real-estate, for the mean time, might enjoy a short rest.
What personal banking service are you using in Vietnam? How happy are you with your current bank? What services do you wish your bank had provided?
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Tags of this article: 2008,anz,australia,australian,banking,bidv,dongabank,finance,hcmc,How Business is done,hsbc,investment,saigon,stock,vietcombank,vietinbank,vietnam,vietnamese.
Last update July 31, 2008
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August 11th, 2008 at 4:16 pm
Chính xác là mạng lưới liên minh ngân hàng của Vietcombank lớn nên số lượng ATM có thể rút tiền bằng thẻ của Vietcombank cũng theo thế mà nhiều lên. Nhưng đa phần các ATM của Vietcombank thường…khuất nẻo trong các chi nhánh, tóm lại là low accessibility, low visibility. Nhưng Đông Á (cũng cầm đầu 1 liên minh) thì thực sự có số lượng ATM riêng khá lớn. Và hơn nữa là ATM của Đông Á có khả năng gửi tiền trực tiếp vào và chuyển tiền đến tài khoản Đông Á khác mà không cần phải đến trực tiếp chi nhánh giao dịch của ngân hàng. Tính năng này rất lợi.
August 11th, 2008 at 4:20 pm
Your point was interesting to follow:
In Ho Chi Minh City, Vietcombank’s ATMs are usually found in shopping malls, supermarkets, exhibition areas where the need for quick cash is high. In fact, the density of Vietcombank’s ATMs in such hot spots are highest in all the ATM network.
I’m pretty sure that they’re available when consumers need them most.
August 14th, 2008 at 7:02 pm
The problem with VCB and other banks’ ATM service is that they have many ATM booths but none of them works perfectly.
I am under the impression that most Vietnamese products don’t live up to expectations when it comes to quality. This is an obstacle that local companies need to solve before they can go global.
The banking sector looks at bit gloomy now and it affects my intention to work as a banker after graduation.