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SCB signs deal with three Hong Kong banks Saigon Joint Stock Commercial Bank (SCB) and three Hong Kong banks on Monday signed a co-operation agreement on syndicated credit financing. Under the agreement, SCB, Hang Seng Bank Limited, Chong Hing Bank Limited and The Bank of East Asia Limited committed to support financial investment and ensure a stable financing source for Union Square Company Limited, which operates in the field of real estate. The signing was made within the framework of an investment development co-operation event held by the Viet Nam Chamber of Commerce and Industry (VCCI) in co-ordination with Hong Kong Trade Development Council (HKTDC) in HCM City on Monday. Also at the event, the four banks signed a strategic agreement for comprehensive and long-term co-operation in exchanging experience on investment and financial management, increasing business relations, conducting research and investment, and especially providing credit to local and foreign … [Read more...] about BUSINESS NEWS IN BRIEF 26/8

Agribank rolls out EMV chip cards State-owned Agribank, one of the largest banks in Vietnam, rolled out a set of debit and credit cards for high security transactions using EMV chip technology in Hanoi on December 17. Highlight was MasterCard Credit Card Platinum (Agribank Platinum) which is believed to offer holders extra convenience and outstanding experiences. EMV, created by three world largest card associations – Europay, MasterCard, and Visa, is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them. Each EMV card contains a microprocessor chip that creates a unique code for every transaction so that security against fraud is improved compared to magnetic stripe card that rely on the holder’s signature. Agribank is a pioneer in implementing the non-cash payment project in Vietnam and providing card services to clients in rural and remote areas. Petrol prices drop to 16,405 VND per litre The prices of … [Read more...] about BUSINESS IN BRIEF 19/12