Incombank Da Nang Leads Local Economy

Incombank Da Nang Leads Local Economy

Together with the vigorous growth of Da Nang, the key economic city in Central Vietnam, Incombank Da Nang has played its part in efficient and sustainable development.

With total assets of nearly VND4,000 billion, over 32,000 clients, payment relations with nearly 300 banks and financial institutions in Vietnam and nearly 700 agents in 63 countries and territories, Incombank Da Nang has one of the biggest capitals and credit shares (21.3 per cent) of commercial banks in the city.

Employing methods suitable to local practices, Incombank Da Nang has mobilised some VND1,000 billion in local and foreign currencies and lent short-term credits to businesses of all economic sectors. It has also invested some VND1,000 billion in medium and long-term credits to spearhead economic industries and major projects of the city and Central Vietnam, such as a hydro-power station and mechanical, manufacturing, steel, textile, garment, footwear and aquaproduct industries.

Incombank Da Nang credits have helped enterprises to upgrade their equipment and technology, increasing their production capacity and competitiveness. Due to improved services, Incombank Danang makes up 38.4 per cent of the total payment turnover of local commercial banks, processing thousands of transactions a day in local and foreign currencies. It has also upgraded its international services, engaging enterprises in all industries and economic sectors.

As Vietnam Industrial and Commercial Bank (Incombank Vietnam) is restructuring its resources and operation to become a strong and modern commercial bank in Vietnam, Incombank Da Nang is also making efforts to develop the INCAS (Incombank Advance System) packaged system following up-to-date practices:

·         “One-stop mechanism” allowing clients to undertake all necessary formalities and transactions in any Incombank branch at home or abroad.

·         E-banking with a home banking system ensuring clients of a safe management of accounts via the Internet, mobile or fixed telephone and eventually payment via electronic receipt.

·         IT and telecommunication will facilitate means of payment such as ATM networking with other commercial banks for payment in all shops, hotels, restaurants, etc.

·         International bank services (foreign exchange, traveller’s cheques, international credit cards, import-export payments, etc.), securities service and investment in financial and monetary markets. Incombank can also develop new credit sources from international financial institutions.

In its 2020 vision, Da Nang will not only be a key economic city and the third international gateway of Vietnam, but also a financial centre. With these targets in sight, Incombank Da Nang is making its best efforts in the future stages of development.