Vietnam Bank Card Report 2016

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Vietnam Bank Card Report 2016Issue 1

@ 2016 StoxPlus Corporation.

All rights reserved. All information contained in this publication is copyrighted in the name of StoxPlus, and as such no part of this publication may be

reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphic, electronic or mechanical, including

photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher.

Date of report: 19 August 2016

Part of StoxPlus’s Market Research Report Series for Vietnam www.biinform.com

2

Table of Contents

Part Content Page

Executive Summary 5-7

I Card Market Overview 8-22

I.1 Historical Development 8-9

I.2 Market Structure 10-11

I.3 Market Size and Growth 12-16

I.4 Market Segmentation 17-22

II Overview of Competition Dynamics 23-35

II.1Card Market share by Revenue and number of

issued cards23-32

III.2 Market share by ATM/POS Coverage 33-35

III Detailed Product Survey 36-49

IV Key Growth Drivers 50-58

IV.1 Higher Income per Capita 52

IV.2 Large unbanked population 53

Part Content Page

IV.3 Internet retailing 54-55

IV.4 Card Technology Advancement 56-58

V Key Challenges 59-67

V.1 Vietnam is still a cash-intensive market 61

V.2 Poor Infrastructure Development 62

V.3 Multiple fees applied on card 63

V.4 Lack of Policy support for development 64

V.5Local utilities development prevents

Card utilisation65

V.6 Mobile Payment Trend 66-67

VI Regulatory Framework 68-70

Appendices

Profiles of Key Players

3

StoxPlus Joint Stock Company

Head Office

5th Floor, Anh Minh Building

36 Hoang Cau Street, O Cho Dua Ward

Dong Da District, Hanoi, Vietnam

telephone: +84 (4) 3562 6962

facsimile: +84 (4) 3562 5055

Ho Chi Minh City Branch

2nd Floor, May Plaza,

63D Vo Van Tan Street,

Ward 6, District 3,

Ho Chi Minh City, Vietnam

telephone: +84 (8) 3933 3586

Date: 19th August, 2016

Dear Clients,

Re: First issue of Vietnam Bank Card Report, 2016

I am pleased to attach our first issue of Vietnam Bank Card report. This

issue is expected to be released annually, covering most up-to-date

card data on the market. More broadly, this report is expected to

provide useful information for investors aiming to review the market's

card sector performance and card operating practices, as well as get an

updated view on the financial position of commercial banks – the card

issuers.

What’s new in this issue? This issue details how the card market has

developed exponentially since 2002, after the introduction of card

system in Vietnam. The competitive dynamics have been thoroughly

ratified. This picture with domination of debit card has not changed,

but is expected to gradually shift with the changes in consumer

behavior. Technology and infrastructure have become more critical,

therefore, the report also highlights the rise of infrastructure and

technology advancement and its applications in bank card market.

To gain a deeper understanding of the attributes that customers value,

we surveyed the products offered by selected financial institutions.

As part of the research, we conducted various field trips as well as

discussions and interviews with industry players at the management

level to grasp local insights of how banks’ services and technology

innovation are performing in Vietnam. We gathered the financial data

of key players and consumer loans from our partners, including Vietnam

Bank Card Association and State Bank of Vietnam.

We understand that this is targeted but open research. We would be happy

to provide further information to address any question regarding any

specific sector or target business in Vietnam. Our ultimate objective is to

provide real value to our clients via in-depth research and practical local

insights.

Should you have any question, please contact our Managing Director, Ms.

Lan Nguyen at + 84-4-35626962 (ext. 109) or [email protected]

Yours sincerely,

Nguyen Quang Thuan

CEO

StoxPlus Corporation

mailto:[email protected]

4

Abbreviation

No. Wor d Stand for

1 VCB Vietcombank

2 SCB Sacombank

3 CAGR Compounded Annual Growth Rate

4 MOF Ministry of Finance

5 SBV State Bank of Vietnam

6 ATM Auto Teller Machine

7 POS Point of Sale

8 SOCB State-Owned Commercial Bank

9 JSCB Joint Stock Commercial Bank

5

Executive Summary

1) Card market is growing exponentially

over the past years at CAGR of 26.56%,

with Debit card being the dominant type

despite acceleration of credit card

numbers.

2) ATM and POS system has been growing

extensively at two-digit in the past 5 years.

However, the distribution and coverage of

ATM and POS system are still far below our

peer countries.

3) Card revenue has been surged with CAGR

of 19.7% over the period 2011 – 2015

Source: StoxPlus estimation from Vietnam Card Association

Figure 1: Number of Cards and Growth by card types period

2011-2015 (‘000)

2009 2010 2011 2012 2013 2014 2015


Figure 2: Vietnam ATM/POS Size and Growth period 2011-

2015 (‘000)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


Figure 3: Vietnam Card Revenue Growth period 2011 -

2015, US$bn

2011 2012 2013 2014 2015

Card Revenue

This page is intentionally left blank

6

Executive Summary

4) Revenue generated by local card marks

up 89.42% total revenue, while cash

withdrawal and money transferring are

the most popular transaction,

aggregately accounting for 98.4% local

card revenue.

6) Revenue from Debit Card: SOCBs such as

Vietcombank, Vietinbank and Agribank

are leading the market with aggregated

revenue of 58% market share. The rest

are top performing Tier I banks.

Figure 8: Card revenue by type of card in 2015 (%)


5) Transaction revenue at ATM is leading with

over 88% of revenue. Consumer behavior

and lack of a good POS infrastructure has

been the key reasons for ATM transaction

prime.

Figure 9: Transaction revenue market share by

means of transaction, 2015 (%)


Figure 14: Top 10 banks with highest debit card revenue,

2015 (US$bn)



7

Executive Summary

7) SOCBs made up 66% total cards

circulating in Vietnam. Among SOCBs,

Vietinbank is the most popular card

issuers so far with over 19.3mn cards by

all types.

8) Key Growth Drivers: The bank card market

in Vietnam is growing fast driven by middle

class and affluent customers, low

penetration in the banking system and the

development of card new technologies

9) Key challenges for development of bank

card market: Cash-intensive

characteristics of the market, poor

infrastructure development of POS for

card payment, the lack of policy

guidance and enforcement from the

Government, and the hesitation of card

users due to high fee & undeveloped

connected utilities.

Figure 19: Top bank by number of local & international

cards, 2015



8

Contents

1 Historical Development

2 Market Structure

3 Market Size and Growth

4 Market Segmentation

Section I: Card Market Overview

9

The evolution of Bank Card market in Vietnam


Historical Development of Bank Card Market

1996 - 2000 2001 - 2005 2006 - 2010 2011 - 2015

• This period is considered as

the earliest stage of Vietnam

bank cards market, in which

service providers offered

narrow range of products and

Vietnamese’s perception

about payments card was

limited. Payment cards in

this period were used only by

high income class to execute

oversea transactions.

• During this time, only few

major commercial banks

started investigating and

experimenting ATM services.

• The most critical policy changes

came from Decision

291/2006/TTg about the

Proposal of non-cash payments

period 2006-2011 and Decision

20/2007/NHNN about issuing and

using bank cards, and providing

card-related services,

increasing the number of new

products as well as participating

commercial bank.

• In 2010, there were 49 card

issuing parties, which owned

about 200 card brands. At that

time, 11500 ATM machines and

52000 POS terminals were built

across the country.

• Inter-bank connections among

ATMs and POS terminals systems

were broadened, enhancing

customer experiences and

additionally surging card

revenues during this period.

• Decision 2453/QD-TTg which

promoted non-cash payments

activity led to a revolution in

level of awareness of

Vietnamese people and

companies about bank cards,

resulting in a steadily growth

from 42 million cards in 2011 to

91 million cards in 2015.

• Commercial banks did put great

efforts into upgrading their

infrastructure, especially POS

systems to enhance customer

experience. At the end of 2015,

there were 16,573 ATM

machines and 217,470 POS

terminals, increasing 23% and

181% compared to YE2011,

respectively. Besides, brand

new services such as e-banking,

mobile banking and e-wallet

were introduced. These changes

combined with expanded card

switching activity helped bank

to skyrocket their transactions

in terms of number and value.

• .

• From 2001 to 2005, Vietnam

payment card market soared

at a rate of 200% annually. At

the end of 2005, there were

2.7 million payment cards

had been issued, along with

1700 ATM machines and 9000

accepted points (POS

terminals)

• Both state-owned

commercial banks and join-

stock commercial banks

advanced information

technology and up-to-date

facilities, and issued

diversified types of payment

cards including: ATM, debit

cards, credit cards,

international and local cards.

10

Contents


2 Market Structure




11

The types of card, card issuers and card operators in Vietnam

Section I: Overview of Card Market

Card market structure in Vietnam

DEBIT CARD

CREDIT CARD

PREPAID CARD


12

Contents


2 Market Structure




13

Card market is growing exponentially over the past years at CAGR of 26.56%, with Debit card being

the dominant type despite acceleration of credit card numbers


Figure 1: Number of Cards and Growth by card types period 2011-

2015 (‘000)


Market size and growth

2009 2010 2011 2012 2013 2014 2015


14

ATM and POS systems have been growing extensively at two-digit in the past 5 years. However, the

distribution and coverage of ATM and POS system are still far below our peer countries.


Figure 2: Vietnam ATM/POS Size and Growth period 2011-2015 (‘000)



2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


15

Card revenue has surged with CAGR of 19.7% over the period 2011 – 2015, reaching US$74.4bn by

YE2015. Unlike other countries, Card revenue growth is mainly contributed by money withdrawal fee

at ATM.


Figure 3: Vietnam Card Revenue Growth period, US$bn (2011 – 2015)



2011 2012 2013 2014 2015

Card Revenue


16

Card transaction revenue grew steadily at CAGR of 14.3% over the period 2011 – 2015, reaching

US$76.6bn by YE2015. Recent rise in income and spending pushed the growth of card transaction.


Figure 4: Transaction Revenue value & Growth, US$bn (2011-2015)



2011 2012 2013 2014 2015


17

Contents


2 Market Structure




18

Most of issued cards are local cards, in which debit cards always take the domination position.


Figure 5: Market share of issued cards by number – local vs

international cards at YE2015 (%)


Market Segmentation

Figure 6: % number of bank cards by type, 31/12/2015



19

Revenue generated by local card marks up 89.42% of total card revenue, while cash withdrawal and

money transfer are the most popular transactions, aggregately accounting for 98.4% of local card

revenue.


Figure 7: Market share of card revenue – local vs international cards

at YE2015 (%)


Market Segmentation

Figure 8: Card revenue by type of card in 2015 (%)



20

Transaction revenue at ATM is leading with over 88% of revenue. Consumer behavior and lack of good

POS infrastructure are the key reasons for ATM transaction prime.


Market Segmentation

Figure 9: Market share of transaction revenue by means of transaction,

2015 (%)


Figure 8: Local Card revenue by type of transaction, 2015 (%)



21

Card number and revenue by operators: Visa Inc. clearly leads the competitive landscape in both

debit and credit cards

Source: StoxPlus estimation

Figure 10: Market share of personal credit card number by operators,

2015 (%)


Market Segmentation


22

In terms of strategy, Visa focuses on interactive marketing campaigns to increase user interfaces,

while MasterCard and American Express rely on discount campaigns

• While MasterCard International Inc tends to focus on offering

discounts, Visa Inc is more likely to focus on interactive

marketing campaigns, such as weekly Facebook puzzles with

attractive rewards for winners.

• MasterCard International Inc has been deploying extensive

marketing campaigns since the end of 2014. One of the

company’s most noticeable activities is the 10% discount

program for all payments made by MasterCard cards on

Lazada, one of the most popular online market places in

Vietnam. On ebay.vn, every transaction made by MasterCard

cards also benefits card owners with a discount of 8%.

• In the meantime, American Express Co. also concentrates on

discounts. The American Express operator offers a 10%

discount for all online payments made on mediamart.vn with

Vietcombank American Express cards.


Market Segmentation

23

Contents

1 Market Share by Card Revenue and number of issued cards

2 Card Market share by ATM/POS Coverage

Section II: Competition Dynamics

24

By card revenue, top 3 SOCBs including Vietcombank, Vietinbank and Agribank clearly dominate the

market with over 55% market share.


Figure 11: Market share by card revenue, 2015 (%)

Section II – Competition Dynamics

Market Share by Card Revenue and number of issued cards – All cards

Figure 12: Card revenue of top 5 banks, 2015 (US$bn)



25

By card number, issuance number is also led by Vietcombank and Vietinbank, together marking over

40% market share

Figure 19: Top banks by number of local & international cards, 2015


Market Share by Card Revenue and number of issued cards – All cards


Million



26

Revenue from Debit Card: SOCBs such as Vietcombank, Vietinbank and Agribank are leading the

market with aggregated revenue of 58% market share. The rest are top performing Tier I banks.


Figure 13: Market Share of Debit Card Revenue by issuers, 2015 (%)


Market Share by Card Revenue and number of issued cards – Debit card

Figure 14: Top 10 banks with highest debit card revenue, 2015

(US$bn)



27

For Debit card market share by number of issued cards, Vietinbank and Agribank are competing for

the leading position. Vietinbank has higher potential to become market leader.


Market Share by Card Revenue and number of issued cards – Debit card

Figure 20: Top banks by number of debit cards, 2014 vs 2015


2015 2014


28

Credit Card is a more competitive market where SOCBs and JSCBs compete fiercely. By revenue, top 5

credit card issuers already account for 69% market share.


Figure 15: Market share of Credit Card Revenue by issuers, 2015


Market Share by Card Revenue and number of issued cards – Credit card

Figure 16: Top banks with highest credit card revenue, 2015 (US$mn)



29


Market Share by Card Revenue and number of issued cards – Credit card

Source: StoxPlus from Vietnam Bank Card Association

By number of card, majority of credit cards outstanding were issued by Vietinbank and Vietcombank,

followed by well-known JSCBs such as Sacombank, Techcombank or ACB.

Figure 21: Top banks by number of credit cards, 2015

Million


30

Prepaid card has not yet developed in Vietnam due to technology issue and the low acceptance of

users. By revenue, ACB is the leading player which holds over 68% market share.

Figure 17: Market share of prepaid card revenue by issuers, 2015


Market Share by Card Revenue and number of issued cards – Prepaid card


Figure 18: Top 5 banks with highest prepaid card revenue, 2015

(US$mn)


ACB PG Bank Sacombank MBB Eximbank


31


Market Share by Card Revenue and number of issued cards – Prepaid card

Source: StoxPlus from Vietnam Bank Card Association

By number of card, MBBank, ACB and Eximbank aggregately account for 60% prepaid cards of the

market. Leading in number, however, MBBank has lower efficiency of prepaid card utilization.

Figure 22: Top banks by number of prepaid cards, 2015

Million


32

Contents

1 Market Share by Card Revenue

2 Card Market share by ATM/POS Coverage

Section II: Competition Dynamics

33


Card Market share by ATM/POS Coverage

Agribank has the largest ATM coverage, followed by Vietcombank and Vietinbank. While with POS,

Vietcombank and Vietinbank are leading the market, accounting for about 62% market share.

Figure 23: ATM market share, 31/12/2015

Source: StoxPlus

Figure 24: POS market share, 31/12/2015

No.

of

AT

MN

o.

of

PO

S

Source: StoxPlus

34


Card Market share by ATM/POS Coverage

ATM Geographical Allocation of Top commercial banks

Figure 25: Geography distribution of ATMs of Vietcombank

Source: StoxPlus

Hoang Sa

Truong Sa

Figure 26: Geography distribution of ATMs of Vietinbank

Hoang Sa

Truong Sa

35

Contents

Section III: Detailed Product Survey

36

Methodology of Bank Card product survey

Section III: Detailed product survey

Overview of products

Description

• Selected banks were chosen based on variety of card product, reputation in Vietnam and the loan size. For each bank, direct interview

was set in point of sale or via phone call. For each type of product, bankers were surveyed and cross checked with our own collection of

information.

• Depending on product’s characteristic, several elements were checked, from interest rate to required documents, fee scheme to

penalties.

Limitations

• Due to the limited in the location, only in Hanoi, there were some limitations about the number of products and amount of financial

institutions. Therefore, the sample size was small and only focused on particular products and key financial institutions, 4 for SOCBs, 4

for JSCBs, 2 for foreign banks.

Sample Size

• 10 top commercial banks in Vietnam

• Location: Hanoi

• Methodology: Mystery shopping

Selected Products

• Debit Card

• Credit Card

• Prepaid Card

Types of Financial

Institutions

• State-owned commercial banks

• Joint stock commercial banks

• Foreign banks

37

Application

Figure 27: Do you seek for the following conditions for issuance of credit card?

Minimum salary is the most typical condition for issuance of credit card


Detailed product survey


38

Application

Figure 28: How much is the minimum salary per month for issuance of standard credit card at your bank?

Minimum salary for issuance ranges from US$200 – 400, international banks like HSBC has highest

requirement for minimum salary




39

Application

Figure 29: What are the number of documents required for issuing credit, debit, and prepaid card?

The bank requires 4 typical documents in case of credit card issuance, while requirement for debit

and prepaid card is much lower




40

Application

Figure 30: How long would it take for a card to be issued (from the day client provide full documents)?



Most bank take up to 5 days for issuance of a debit card, and 7 days for a credit card. BIDV has the

fastest duration of debit card issuance


41

Card Types

Figure 31: How many types of credit/debit card your bank currently issue?

Overall, credit card is provided with the most diverse ranges of products. Vietcombank and

Vietinbank clearly show the leading position in number of card types offering.




42

Technology Upgrade

Figure 32: What are the availability level of your ATMs?

Several banks have advanced from technology and developed deposit function for their ATMs




43

Card Types

Figure 33: What are the card issuance partners of your bank?

Only Vietcombank has successfully connected with all 5 card operators in Vietnam.




44

Card Types

Figure 34: For standard credit card, how much is the minimum & maximum credit limit?

Credit limit of active private and foreign banks are the most flexible




45

Card Fee

Figure 35: How much is the annual fee for a standard Credit/Debit/Prepaid card?

Annual fee of HSBC is the highest among surveyed banks, while most of local banks have annual fee

between US$12 - 15




46

Interest rates

Figure 36: How much is the annual interest rate applied for late payment of credit card?

Late payment of credit card has to bear very high interest rate. SHB and ACB posted the highest late

payment penalty of 48% and 45%, respectively.




47

Interest rates

Figure 37: How much is the foreign currency conversion fee in case of using credit/debit card for foreign currency transaction?

Foreign currency conversion fee normally ranges between 2 – 2.5%




48

Marketing Strategy

Figure 38: What are the focused sectors for promotion in using credit/debit card?

Food and Beverage and Tourism sectors are key focuses of most banks for promotion of using

credit/debit card




49

Marketing Strategy

Figure 39: Co-branded cards offered by the banks

SOCBs such as Vietcombank, BIDV and Vietinbank provide the widest ranges of co-branded cards




50

Contents

1 Higher Income per Capita

2 Large unbanked population

3 Internet retailing

4 Card Technology Advancement

Section IV: Key Growth Drivers

51

2. A big unbanked population

The bank card market in Vietnam is growing fast driven by middle class and affluent customers, low

penetration in the banking system, increasing internet retailing and the development of card new

technologies


Summary

4. Card Technology

Advancement3. Internet Retailing1. Higher income per capita


52

Urban Rural

Income of citizen per capita in urban area is nearly double that of rural area, reaching US$4,091 in 2013

and estimated at US$5,131 by 2014. However, MAC consumers are rapidly spreading beyond the largest

cities.


Higher income per capita

2000 2002 2004 2006 2008 2010 2012 2014

US$

Do

llar

Source: World Bank Indicators 2016

Figure 41: Increasing disposable income per capita, 2008 – 2014

Source: StoxPlus estimated from Statistic Yearbook 2014

Figure 40: Disposable income of Vietnam vs. peer countries


53

The untapped market refers to the larger unbanked or under-served populations, but may also focus more narrowly on further subsets of the population, such as women, young people or those with lowẻincomes

Figure 42: Population with and without bank accounts, 2014

Source: StoxPlus estimates from World Bank


A Big Unbanked Population

Figure 43: Banking infrastructure network, 2015

Branches ATM POS

Source: StoxPlus analysis from SBV


54

Section IV: Key growth drivers

Growth of E-commerce

Figure 44: Vietnam E-commerce Market Overview, 2014

Despite low Internet penetration, e-commerce in Vietnam is growing quickly. The MOIT estimated that

the e-commerce trading value in Vietnam hits US$2.2 billion in 2013 and is forecasted to reach US$3.7-

4.3 billion by 2015. E-commerce growth will allow more use of bank cards for online purchasing.

Figure 45: Vietnam B2C E-commerce sales in USD millions, 2011 - 2015


55

E-Commerce Sales in Vietnam hits US$2.9bn at the end of 2014. Both foreign and domestic banks are

eager to expand their online card services in the form of co-branded card or discount cards

Figure 46: Vietnam B2C E-commerce sales in USD millions, 2011 - 2015

2012 2013 2014 2015

Figure 47: Vietnam Payment methods offered by retailers, 2015

Section IV: Key growth drivers

Growth of E-commerce


56

Co-branded Card, Autobanking System and upgrades of ATM system are the most prominent trends in

technology advancement


Technology Advancement

Figure 50: Sample of co-branded cards issued by commercial

banks


57

Autobanking System and upgrades of ATM system are the most prominent trends in bank card market



Figure 51: Advantages of an auto banking system


58

Development of Contactless card and synchronization of local bank card are guided strategies from

the Government



Figure 52: Banks currently providing contactless EMV card in

Vietnam


59

Contents

1 Vietnam is still a cash-intensive market

2 Poor Infrastructure Development for Card Payment

3 Multiple fees applied on card

4 Lack of Policy support for development of card

5 Local utilities development prevents the Card utilisation

6 Mobile Payment Development threaten Bank Card Growth

Section V: Key Challenges

60

1. Vietnam is still a cash-

intensive market

Key challenges for development of bank card market come from cash-intensive characteristics of the market,

poor infrastructure development of POS for card payment, the lack of policy guidance and enforcement from the

Government, and the hesitation of card users due to high fee & under-developed connected utilities.

Section V: Key Challenges

Summary

2. Poor Infrastructure

Development3. Multiple fees applied on card

4. Lack of Policy guidance for

development

5. Local utilities development

prevent the Card utilization6. Mobile payment


61

Vietnam would remain a cash-intensive country in spite of strong bank card and e-commerce growth

Section V – Key Challenges

Vietnam is still a cash-intensive market

Figure 53: Cash vs Non-cash consumption in Vietnam, 2015

Source: StoxPlus from SBV


62

The ATM/POS system has only focused on some specific entertainment services in city centers and

rural areas, while the other services and geographical areas are under-developed.

Section V – Key Issues

Poor Infrastructure Development for Card Payment

Figure 54: POS per individual in Vietnam and other countries, 2015

POS/1 thousand population

Source: StoxPlus


63

Each card user has to bear multiple fees on all card types, and very high over-due interest rate for

credit card. Additionally, transaction fee of 2 – 3% also furthers clients and service providers’

hesitation


Multiple fees applied on card

Figure 55: Card related fees of standard debit card of

Vietcombank & Sacombank, 2015 (US$)

Source: StoxPlus from the banks


64

Even though the policy encouraging non-cash payment for goods & services has already been

implemented, the amount of money for application has not been appropriate. There is a lack of law

implementation enforcement from the Government.


Lack of Policy support for development of card

Figure 56: Article 9, Law 32/2013/QH13


65

Most of utility providers operate independently which create difficulties for setting up national bill

payment system for each utility, while the direction toward non-cash payment has not been

enforced.


Local utilities development prevents the Card utilization


66

Mobile Payment Space Ripe for Rapid Growth


Mobile Payment Trend

Figure 48: Mobile payment readiness Index in 2015


67

Mobile payment development might also threaten the growth of bank card


Mobile Payment Trend

Figure 49: List of E-wallet partners in Vietnam


68

Contents

Section VI: Regulatory Framework

69

The new Circulars are released in 2016 have some amendments compared to previous issues


Regulatory Framework


70

Circular No. 19 /2016/ TT-NHNN on bank card operations provides critical changes, replacing Decision

20/2007/QD-NHNN


Regulatory Framework


71

Contents

Profiles of Key Players

Appendices

72

Source: StoxPlus

Section 5: Profiles of Key Players

ACB

Source: StoxPlus

BUSINESS PROFILE OWNERSHIP STRUCTURE

KEY FINANCIAL & OPERATIONAL INDICATORS BRANCH NETWORK AND TRANSACTION OUTLETS


73

Source: StoxPlus


BIDV

Source: StoxPlus




74

Source: StoxPlus


Vietinbank

Source: StoxPlus




75

Source: StoxPlus


Sacombank

Source: StoxPlus




76

Source: StoxPlus


Vietcombank




77

Source: StoxPlus


Agribank




78

Source: StoxPlus


Bao Viet bank

Source: StoxPlus


LINES OF PRODUCTS BRANCH NETWORK AND TRANSACTION OUTLETS


79

Source: StoxPlus


Citibank

Source: StoxPlus

BUSINESS PROFILE LINES OF PRODUCTS



80

Source: StoxPlus


Maritime Bank

Source: StoxPlus




81

Source: StoxPlus


PVcomBank

Source: StoxPlus




82

Source: StoxPlus


Shinhanbank

BUSINESS PROFILE LINES OF PRODUCTS

BRANCH NETWORK AND TRANSACTION OUTLETSKEY FINANCIAL & OPERATIONAL INDICATORS


83

Source: StoxPlus


Techcombank

Source: StoxPlus




84

Source: StoxPlus


Tien Phong Bank

Source: StoxPlus




85

Source: StoxPlus


Vietnam International Bank

Source: StoxPlus




86

Source: StoxPlus


HSBC Vietnam

Source: StoxPlus

BUSINESS PROFILE LINES OF PRODUCT

BRANCH NETWORK AND TRANSACTION OUTLETS


87


‹#›

If you need further assistance, contact us at:

Giang Ha

Senior Associate+84 (0) 919387478

[email protected]

Head Office

5th Floor, Indovina Bank Building

36 Hoang Cau Street

Hanoi, Vietnam

+ 84 (4) 3562 6962

Ho Chi Minh Branch

2nd Floor, 63D Vo Van Tan

Ward 06, District 03

Ho Chi Minh City, Vietnam

+ 84 (8) 3823 3485

Lan Nguyen

Managing Director+84 (0) 35626962 (ext. 109)

+84 (0) 96 494 6760

[email protected]

Hanh Hoang

Assistant Manager+84 (0) 91 522 5124

[email protected]

Vietnam Bank Card Report 2016

Economy & Finance

Transcript of Vietnam Bank Card Report 2016