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DongA Bank: first ATM producer
The joint-stock DongA Bank is set to become Vietnam’s first manufacturer of automated teller machines (ATM), according to bank officials.
The move is part of an ambitious plan to become the nation’s leading retail bank, partly by expanding business into the world of ATM manufacturing and gold floor trading.
DongA is on a mission to boost its competitiveness as international banks increase their foothold in the country.
The bank expects to get the go-ahead to set up the Vina Bank Card Company (VNBC) from authorities next month, said deputy general director Le Tri Thong.
VNBC’s machines will serve the bank’s widening ATM network. DongA currently has 850 ATMs nationwide. However, as other banks have joined the network to help their customers, there are now 1,200 ATMs in the network. The bank plans to install another 1,000 machines by 2010.
DongA also hopes to sell its ATMs to other banks, both in and outside Vietnam.
Next month, integrated services to holders of DongA International credit cards, which is linked to Visa’s global network, and Multifunctional debit cards will be offered to DongA customers.
October will also see the opening of Dong A’s gold trading floor at its headquarters on 130 Phan Dang Luu Street, Phu Nhuan District, HCM City.
Over the past eight months, the DongA Bank had mobilized VND26 trillion, already surpassing the entire year’s target of VND25 trillion while outstanding loans remain at VND22.6 trillion, making up over 96 percent of the year’s target of VND23.5 trillion.
Remittance turnover has risen to US$840 million, from the US$552 million compared to a year earlier. However, it is only 70 percent of the US$1.2 billion goal set for the year.
VOV
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