Basic bank information
name and background: Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) was established in 1988 and is headquartered at 108 Tran Hung Dao Street, Hoan Kiem District, Hanoi City, Vietnam. The bank is 64% owned by the State Bank of Vietnam, 20% by Mitsubishi UFJ Financial Group and 10% by the International Finance Corporation (IFC). VietinBank was listed on the Ho Chi Minh City Stock Exchange in 2009 under the ticker symbol CTG.
Scope of Services: VietinBank has an extensive network of branches and ATMs throughout Vietnam, covering major cities and regions, providing comprehensive financial services.
Regulation & Compliance: VietinBank is regulated by the State Bank of Vietnam and complies with Vietnam's financial regulatory regulations. The bank participates in Vietnam's deposit insurance program to ensure the safety of customer deposits. In recent years, VietinBank has performed well in terms of compliance and actively strengthened internal controls and risk management. Wikipedia
Financial Health
Key Indicators: As of 2023, VietinBank has a capital adequacy ratio of 15.9%, a non-performing loan ratio of 1.13%, and a liquidity coverage ratio of 167.2%. These indicators demonstrate the bank's robustness in terms of capital adequacy, asset quality, and liquidity.
Deposit & Loan Products
deposits : VietinBank offers a variety of deposit products, including demand deposits, time deposits, and large certificates of deposit (CDs). The interest rate of a time deposit varies according to the tenor of the deposit, for example, the interest rate of a 12-month time deposit is 4.2% per annum. In addition, VietinBank also offers special products such as high-yield savings accounts and large certificates of deposit to meet the needs of different customers.
Loans: VietinBank offers a variety of loan products, including home loans, car loans, and personal lines of credit. Loan interest rates and thresholds vary depending on the type of loan and customer qualifications. The bank also offers flexible repayment options so that customers can choose the right repayment method according to their circumstances.
List of common fees: VietinBank's account management fees, transfer fees, overdraft fees, and ATM interbank withdrawal fees are transparent, and customers can learn about the relevant fees when opening an account. In addition, the bank also provides some preferential policies, such as minimum balance limits, to reduce the cost of use for customers.
Digital service experience
APP & Online Banking: VietinBank provides a feature-rich mobile banking application and online banking services, supporting account management, transfer payment, bill payment and other functions. Users can enjoy a convenient digital banking experience with features such as facial recognition, real-time transfers, and bill management.
Technological innovation: VietinBank actively promotes technological innovation, applying technologies such as artificial intelligence customer service, robo-advisors, and open banking APIs to improve customer service efficiency and experience.
Customer Service Quality
Service Channels: VietinBank offers a variety of service channels such as 24/7 phone support, live chat, and social media response, ensuring that customers can get help at all times. The bank's customer service team is very responsive and handles issues in a timely manner. Wikipedia
Complaint Handling: VietinBank pays attention to customer feedback and has a special complaint handling mechanism to ensure that customers' problems are resolved in a timely manner. The bank's complaint handling is efficient and customer satisfaction is high.
Multi-language support: VietinBank provides multilingual services to meet the needs of customers with different languages, especially for cross-border users.
Security measures
- safety of
funds: VietinBank participates in Vietnam's deposit insurance program to ensure the safety of customer deposits. The bank also employs advanced anti-fraud technologies, such as real-time transaction monitoring, to protect customer funds.
Data Security: VietinBank is ISO 27001 certified to ensure the security of customer data. The bank attaches great importance to data protection and has not had any major data breaches.
Featured Services & Differentiation
market segments: VietinBank provides special services such as student accounts, exclusive wealth management for the elderly, and green financial products to meet the needs of different customer groups.
High-net-worth services: VietinBank provides private banking services for high-net-worth clients, including customized financial solutions and dedicated relationship managers to meet their personalized financial needs.
Market Position & Accolades
Industry ranking: According to the 2024 Forbes Global 2000 list, VietinBank ranks 1194th in the world and is the third largest bank in Vietnam. The bank has outstanding performance in terms of asset size, revenue and profit. Wikipedia
Awards: VietinBank has won multiple industry awards, including The Asian Banker Awards and the Global Banking & Finance Awards, for its achievements in digital transformation, innovation, and customer service.
