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Eximbank shifts focus to retail

Update: November, 19/2013 - 09:49
Customers conduct transactions at Eximbank. The HCM City-listed bank will put more focus on retail banking such as cards, money transfer, gold and foreign exchange to serve individual customers. — VNA/VNS File Photo

HCM CITY (VNS)— Eximbank Viet Nam, the HCM City Stock Exchange-listed bank, has decided to focus on more non-credit services as a growth strategy while it streamline administrative staff.

According to the bank's acting general director, Nguyen Quoc Huong, his bank would put more stress on retail banking, including cards, money transfer, gold and foreign-exchange services, to serve millions of individual customers.

"Eximbank, like others, still depends on credit activities, which represent more than 70 per cent of total turnover, while the share should be 50 to 55 per cent," said Huong.

He explained that the time has gone when the gap between deposit and lending interest rates was 5-6 per cent.

"We have established our card centre and we're going to open a gold and foreign exchange centre and an e-banking one," he said, adding that even though the bank now offers these services, it would be significantly enhanced when the new centre opens.

To improve its performance, the bank has streamlined its administrative staff at its headquarters in HCM City, moving 250 people to sales teams to better serve customers and increase turnover, and laying off another 48, according to chairman Le Hung Dung.

He denied previous rumours that up to 1,000 of the bank staff had lost their jobs.

However, Huong said there would be new recruitment of competent people in areas including sales and IT to support the new centres.

This year to date, the credit growth rate of the banking sector stands at more than 7 per cent compared to the 12 per cent target set by the State Bank. — VNS


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