Vietcombank Tra Vinh Sharing Difficulty, Adding Resources for Businesses to Overcome COVID-19

12:42:11 PM | 26/4/2022

Willing to share difficulties with customers and the community in the fight against the COVID-19 pandemic, Tra Vinh Branch of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank Tra Vinh) has actively joined forces with local authorities and agencies to apply support policies and solutions for people and enterprises to live through hardships to stabilize livelihoods and recover business in the post-pandemic period.

Joining to overcome hardships

To ensure safety and interests of the people and maintain smooth and efficient banking system operation during the pandemic, Vietcombank Tra Vinh has always upheld its initiative and firm actions in the fight against the pandemic; strictly complied with 5K preventive measures recommended by the Ministry of Health, sprayed disinfectants, arranged personnel to work in different shifts to ensure business continuity amid complicated pandemic development; installed automatic body temperature measurement devices and disinfection machines at the entrance to all transaction offices and branches; provided free facemasks to all visiting customers; and launched online or contactless registration systems on the website and working offices to ensure physical distance as recommended by the Ministry of Health.

Mr. Do Thanh Ly - Deputy Director of Vietcombank Tra Vinh (5th from the right) presents gifts to Khmer ethnic households in Kim Hoa commune, Cau Ngang district, Tra Vinh province

Mr. Do Tat Kha, Director of Vietcombank Tra Vinh, said, according to the direction of the Prime Minister and the guidance of Vietcombank, banking services are essential services needed to be opened to maintain operations. So, besides appropriate measures to ensure proper social distancing, Vietcombank Tra Vinh maintained operations and provided banking and financial services to all customers during the working hours (from 08:00 to 11:00 and from 13:00 to 16:00, from Monday to Friday); continued normal operation of 17 ATMs, points of sales in the province, electronic banking transaction system and 24/7 customer care center of Vietcombank. The branch is also committed that service delivery is guaranteed to be continuous, even in the event that one or some of its business locations are locked down. Vietcombank Tra Vinh will promptly notify customers of revised information (if any) on the official website of Vietcombank and/or through their registered customer communication channel; and at the same time have solutions to provide maximum support and ensure their legitimate rights and interests of customers.

Mr. Duong Thanh Nghia - Vice Chairman of the Trade Union (right) and Ms. Cao Nguyen Thuy Vy - Deputy Secretary of the Youth Union (left) present a house of gratitude and a gift to Mr. Tran Van Nau's family at Ray hamlet, Vinh Kim commune, Cau Ngang district, Tra Vinh province

During the past two years of pandemic, to reduce operating costs for businesses and people, Vietcombank Tra Vinh has reduced/preferred lending rates and slashed service fees for customers. Specifically, the branch has made five straight interest rate reductions to support businesses and people affected by the COVID-19 pandemic; and decreased lending rates by 0.5-1% per annum, depending on customers, with the support value of up to US$13.5 billion (on total affected outstanding loans of more than VND5,800 billion) since 2020. In addition, the branch has carried out many low-interest programs for new loans to help customers overcome difficult times; sided with customers to review and assess business and production plans, financial balance and cash flows to give appropriate advice and support to customers.

In addition to slashing lending rates and providing new credit, Vietcombank Tra Vinh has lowered transaction fees for customers at counters, ATMs, digital bank applications VCB Digibank, VCB_iB@nking and VCB Money to help customers during the difficult pandemic period. Specifically, individual customers have been offered a discount of up to 80% of money transfer fees within Vietcombank, a 25% reduction on interbank money transfer fees; a 33% discount on account package fees, applicable to VCB Eco and VCB Plus accounts; and a 17% reduction on cash withdrawal fees at non-Vietcombank ATMs. For institutional customers, they will receive a 50% discount on bank-to-bank money transfer fees.

The branch has also focused on fostering technology improvement, optimizing digital banking utilities to attract customers to open new accounts and use banking services; stimulate the use of online services and non cash payment methods to optimize the efficiency of financial activities for customers and minimize pandemic infection risks for customers, employees and the community. It has applied free money transfer to deposit accounts of the Vietnam Bank for Social Policies (VBSP) at credit institutions and foreign bank branches to lend money to employers to pay salaries to laid-off and redundant workers as per the Prime Minister’s Decision 23/2021/QD-TTg dated July 7, 2021; free money transfers to the COVID-19 Vaccine Fund using accounts at the State Treasury, Vietcombank, commercial banks and to accounts of the Fatherland Front Committees at all levels. “With its simultaneous reductions of service fees and lending rates, Vietcombank Tra Vinh hopes to add more resources and strength to accompany, share and support businesses and people affected by COVID-19 pandemic; demonstrating the role and responsibility of a leading State-owned commercial bank in Vietnam that always actively takes the lead in applying operating policies and directions of the Government and the State Bank of Vietnam,” Kha stressed.

Joining hands with the community

Upholding the spirit of standing with the whole country in pandemic prevention and control, on August 20, 2021, Vietcombank donated VND5 billion to Tra Vinh Social Security Fund for COVID-19 Prevention and Control. Previously, on July 26, 2021, Vietcombank Tra Vinh also offered VND50 million to Tra Vinh COVID-19 Prevention and Control Fund.

In addition to the above activities, Vietcombank Tra Vinh has joined hands with mass organizations to carry out meaningful activities. As the complicated COVID-19 pandemic development weakened agricultural sales, the Trade Union and Youth Union of Vietcombank Tra Vinh encouraged its employees to buy agricultural products such as lychee and longan to support farmers and the entire country to overcome difficult times.

Moreover, Youth Union of Vietcombank Tra Vinh launched a program to call for its members and all branch employees to donate food and drinking water for checkpoints, lockdowns and quarantine areas in Tra Vinh province. Specifically, they presented 50 boxes of instant noodles, 50 kilos of sugar, 50 bottles of fish sauce, 50 bottles of cooking oil and 100 bottles of bottled water. In addition, Trade Union of Vietcombank Tra Vinh provided VND13 million for Tra Vinh Police Youth Union to support police forces in the fight against the COVID-19 pandemic in the province. “These are clear proofs of the collective affection of Vietcombank Tra Vinh employees and the desire to join hands with the Party, the government and the entire people in social security work to gradually contain the COVID-19 pandemic, ensuring a safe, prosperous and happy life for the people,” said Director Kha of Vietcombank Tra Vinh.


By Vietnam Business Forum