VietNamNet Bridge – Offering to pay commissions to those who
can bring borrowers to banks, inducing other banks’ clients, offering preferences
to loyal clients are all the methods commercial banks are applying to push up
lending.
ACB, which caught the special
attention from the public in recent days when it launched the program on
lending up to 500 million dong without collaterals, or the program on pushing
up the lending to individuals and households, has just announced another
program.
ACB has promised attractive
awards to the clients who persuade their relatives and friends to use the
bank’s set of products reserved for individual clients in the period from July
23 to December 30, 2012.
Under the program, rewards would
be given when someone can introduce a client who uses one of the two available
credit packages with the disbursed money of 300-500 million dong and the
lending terms of at least three months. He would be given a domestic debit card
with the face value equal to the value of the award, which is calculated based
on the disbursed money.
The awards, according to ACB’s
credit officers, would be extracted from the 10 percent of the interests the
borrowers pay within three months.
Nguyen Thanh Toai, Deputy General
Director of ACB, said ACB accepts lower turnover and profit in return for
higher lending percentages.
Sacombank has also tried to
stimulate the demand by launching the program “more friends, more gifts.” A
client, who is a Sacombank international credit card holder, would receive
bonus points which can be converted into gifts if he can bring a new client to
the bank’s card service.
Both the commercial banks have
noticed that the new introduced clients must not have any transactions with the
banks in the past, or stopped transactions with the banks six months ago.
Offering commissions is not the
measure taken by ANZ, but it is applying another method. Le Giao, a Techcombank’s
golden credit card holder, said that he has become an ANZ’s card holder.
“Other banks always require
complicated procedures, asking card holders to show a lot of documents.
Therefore, I have decided to use the card services of ANZ,” he said.
Giao said that ANZ’s officers,
after realizing that he is the golden card holder of another bank, did not ask
him to show many documents.
“I just needed to show three
kinds of documents, including identity card, the front page of the credit card
I was holding, and the residential certificate, to get a golden credit card
with the same credit limit,” he said.
Low credit growth makes banks suffer constant anxiety
Commercial banks now have profuse
capital but do not have borrowers. Businesses do not intend to borrow money
these days, because they are not sure if they can sell products in the context
of the weak demand.
According to the State Bank of
Vietnam, the overnight interest rate in the interbank market has been
decreasing. By the end of July 23, the overnight interest rate had dropped to
5.26 percent from 7.5 percent. After that, it dropped once again to 2.5 percent
on July 25.
The interest rate reductions have
also been reported for other terms of loans on the interbank market. One month
loans are now lent at 6 percent, down by one percent. Especially, the interbank
market has been very quiet with only 25 trillion dong worth of capital traded a
day.
Le Tham Duong from the HCM City
Banking University said while the number of good clients keeps decreasing, the
number of capital for lending has been increasing. Therefore, the competition
to scramble for borrowers would even be stiffer.
Source: Dat Viet
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