VIB and Vietnamese banking industry contribute to COVID-19 vaccine fund

Following the Prime Minister's call, the banking industry has always actively participated in the prevention of Covid-19. To date, the entire banking industry has spent over VND1.3 trillion to support the prevention COVID-19. Of the sum, about VND700 billion was donated to the national COVID-19 vaccine fund.

As one of the banks that actively supported the prevention of the Covid-19 from the early days, on the evening of June 5, at the Launching Ceremony of the Covid-19 Vaccine Fund chaired by the Government Office, VIB's representative gave an amount of VND 20 billion to contribute to the fund.

With the donation, VIB hopes to contribute to administering free vaccines to all people in order to return life to normal as well as stabilising the local economy, VIB’s representative said at the ceremony. Meanwhile, VIB is also fulfilling necessary procedures to purchase 10,000 doses of vaccine for its staff under the allocation of the Ministry of Health, it added.

Previously in 2020, VIB set aside VNĐ10 billion for purchasing medical equipment, face masks and protective gear for frontline doctors and staff. It also donated VNĐ500 million to help prevent and control the spread of the COVID-19 pandemic through the State Bank's union.

Since the start of the COVID-19 pandemic in Viet Nam, VIB was one of the first local banks to offer loan packages for affected customers with a preferential interest rate of up to 2 per cent. By the end of May 2021, the bank had restructured outstanding loans of over VNĐ3.95 trillion, while slashing lending rates by between 0.5 per cent and 2 per cent for 8,380 clients with most of them affected by the pandemic. Currently, the bank is continuing to deploy appropriate support solutions for each group of clients depending on the specific circumstances.

In addition, in order to promote non-cash payments and encourage customers to use convenient and safe transaction methods during the covid period, VIB continuously deploys incentives for current accounts and credit cards. Specifically, free of charge for transferring money via MyVIB application and via E-banking at https://ib.vib.com.vn; Launching new cards for online shopping; Strengthening cooperation with partners to give discounts up to 50% for customers' spending needs on shopping, food, cosmetics, and health care. At the same time, VIB has increased investment in digital transformation to help customers not have to go to the bank, no need to meet the staff, no paperwork when opening cards, current accounts and other basic banking services. 

“VIB believes that with the close, drastic and consistent direction of the Government and the State Bank of Viet Nam together with the consensus of all departments, organisations and local people, we will gain more positive achievements in preventing and controlling COVID-19, thus helping the country stamp out the pandemic," a representative of the bank said