Identity theft credit card

California Fitness Group and VPBank on Tuesday in HCM City announce their partnership. — VNS Photo Thu Ngan The California Fitness Group and VPBank on Tuesday in HCM City announced their partnership, launching the VPBank-California Fitness platinum credit card and the VPBank-California Centuryon signature credit card. The is first time that a fitness brand and a bank have partnered on wellness-focused credit cards in Viet Nam. The two cards each offer cardholders an extensive array of benefits, starting with free gym sessions, and the ability to accumulate points that can be used towards a variety of incentives within California Fitness Group’s nationwide network of 36 fitness clubs and 12 Eri Clinics. The California Fitness platinum cardholders will be entitled to a welcome gift set; two Personal Trainer (PT) sessions; two weeks free-of-charge training for the cardholder only; and a two-week guest pass for family and friends. Additionally, if cardholders use the card to … [Read more...] about California Fitness & Yoga Centers and VPBank team up

Competition is heating up in Vietnam's consumer lending market as existing foreign financial organizations rush to expand as new entrants join the market. The joint venture, which marks Hyundai Card’s first overseas endeavor, is touted as a new growth engine in the Southeast Asian market in a company statement. Consumer lending in Vietnam has increased strongly in recent times on the back of rising affluence amid strong economic growth. “As the market continues its growth momentum, new players, including foreign financial institutions, have been looking for entry into the country,” said Mr. Masataka Yoshida, Senior Managing Director, Head of the Cross-Border Division, and CEO Vietnam at the Recof Corporation, a Japan-based merger and acquisition (M&A) consulting firm. One after the other Before Hyundai Card, a host of other South Korean financial players penetrated into Vietnam’s fast-growing consumer finance market. Lotte Card acquired Techcom Finance in … [Read more...] about Consumer lending a contested landscape

Those who get residency cards may apply for citizenship after seven years The Cambodian government is set to open a path to citizenship for roughly 70,000 ethnic Vietnamese people living in Cambodia. The plan was announced during the year-end meeting of the Immigration Department under Cambodia’s Interior Ministry on Wednesday, the Phnom Penh Post reported. At the gathering, immigration chief Sok Phal said the system would be similar to the green cards afforded to immigrants in countries like the United States or Canada. “Not everybody will be recognized,” Nouv Leakhena, deputy head of the immigration department, said. “When they apply, we have to check them. But most of them, I think they can.” Nguyen Viet Dat, vice-president of the Vietnamese-Cambodian association in Pursat Province, told Tuoi Tre (Youth) newspaper he was in charge of guiding ethnic Vietnamese to register for their residency cards. “Some of the people here have … [Read more...] about ​​Cambodia starts issuing residency cards to ethnic Vietnamese

It also plans to cut non-performing loan ratio (NPL) to below 1.5 percent and a rise of 14 percent in total asset. The targets were announced at the annual shareholders’ meeting of the bank on April 27.  Vietcombank chairman Nghiem Xuan Thanh also informed the shareholders on plans to add 10 percent to its tier-1 capital in 2018 through issuing shares for foreign investors. He said the capital raise proposal was approved by the State Bank of Vietnam and the Government in December 2017. The action aims to secure the bank’s capital adequacy ratio of nine percent in accordance with Basel II standards.  The number of to-be-issued shares would not exceed 10 percent of the bank’s total number of shares, which is now nearly 3.6 billion. Vietcombank will issue additional shares to a maximum of 10 foreign investors, chairman Thanh said. Vietcombank general director Pham Quang Dung said the Japanese bank Mizuho, one of the largest shareholders at … [Read more...] about Vietcombank aims for 15-percent credit growth

Thanh told the press that with the bank’s strategic orientation and its business results in January 2018, the goal is completely within reach.  According to him, VCB became the first bank in Vietnam to obtain the profit target of VND10 trillion (US$439 million), and one of the banks with assets worth quadrillion VND in 2017.  VCB’s profit in 2017 hit VND11.3 trillion (over US$496 million) and its total assets last year valued at over VND1 quadrillion (US$43.9 billion), representing year-on-year increases of nearly 33% and 31%, respectively. In 2017, the bank also worked hard to effectively resolve bad debts, keeping its bad debt at 1.1% – the lowest among Vietnam’s credit institutions.  Thanh attributed the results to both effective credit and non-credit services of the bank.  Under its development strategy to 2020, VCB’s credit services are expected to contribute 32-33% to its revenue, while non-credit services will … [Read more...] about Vietcombank looks to earn US$570 mln profit in 2018