The end of the Lunar New Year is also the time when idle capital sources in the population start to increase again and return to banks having high interest rate as a safe and effective investment channel. Understanding this psychology, banks have re-opened to welcome customers on 6th of the lunar calendar with many programmes to attract visitors.
With the psychology of the beginning of the year, the idle sources of money in the population as well as in some businesses are coming back to banks.
The director of a garment company said that in the quarter after the Lunar New Year, banks often have many promotion programmes, so individuals or small businesses with unused idle capital sources will deposit in banks to receive value gifts.
The psychology of depositing to “hunt” gifts is greatly interested by banks when they consecutively launch promotions, offer lucky money to attract customers at the beginning of the New Year.
For example, SHB gives cash and SJC gold with the highest value of five taels for individual customers depositing at the bank with terms from one month to 13 months, applicable from now until the end of April 28.
Besides, attractive gifts are also one of the factors that attract customers to deposit money at the bank. Therefore, many banks offer gift giving forms such as vouchers for shopping, lucky money, items in correspondence with the deposit amount.
Accordingly, VIB will launch the promotion programme namely “Xuan tai loc voi tien gui VIB” (or Prosperous spring with VIB deposits) from January 24 to April 3 to depositors. The total value of gifts given to customers in this programme reaches 7.3 billion dong.
Not to mention, some programmes, when depositing, customers will have the opportunity to win prizes with great gift value.
For example, a bank informs that depositors from 60 million dong will be given high quality glassware and a chance to receive one kilogram of gold at the end of the programme. In another bank, customers have change to receive a prize code to have chance to win a car.
Apart from presenting a number of incentives to customers, HDBank also offers preferential credit programme namely “fast loans, big interest”.
Accordingly, the Bank applies the preferential interest rate of only 7.5 percent/year and fast lending procedures to customers to realise their short-term business opportunities.
HDBank’s leaders said that in 2017, the bank recorded a consolidated pre-tax profit of 2.420 trillion dong, an individual pre-tax profit of 2.040 trillion dong, or 2.1 times higher than in 2016.
HDBank sets the pre-tax profit target for 2018 to increase 65.3 percent to 3.921 trillion dong; the credit growth is projected to reach 34.99 percent, bringing outstanding loans to customers to 148.510 trillion dong. So, since the beginning of this year, this bank has accelerated to attract depositors and borrowers.
Setting the pre-tax profit target for 2018 at 1.640 trillion dong also requires Sacombank to make great efforts right from the beginning of the year. Nguyen Minh Tam, deputy general director of the bank, said that with the potential strength of retail, this year, the bank will step up retail lending, including consumer credit, home loan purchase.
In 2018, the State Bank of Vietnam (“SBV”) aims to increase the total money supply by 16 percent, and credit by 17 percent. The banking sector continues to strive to reduce lending rates to support businesses and the economy following the direction of the government and the prime minister.
Accordingly, closely following macro-economic developments, foreign exchange market, the State Bank will consider adjusting interest rates flexibly on the open market to facilitate credit institutions reducing lending rates at the right time and dose. In this context, banks are demonstrating their efforts right from the beginning of the New Year to reach the set goals.
