ABBank in deal with French insurance firm

An Binh Commercial Joint Stock Bank (ABBank) has signed an agreement with the French-owned Prévoir Vietnam Life Insurance Co., Ltd (Prévoir Vietnam) to enclose the latter’s insurance products with ABBank's mortgage lending products.

Mortgage borrowers at ABBank in any way, in case of unfortunate risks under the insurance coverage, will have their whole remaining outstanding loans repaid for ABBank with the amount of insurance of up to VND24 billion for a lending contract.

The way to participate is very simple and does not require insurance evaluation procedures with quick and convenient insurance settlement processes, further increasing the value of ABBank's mortgage lending products.

The signing is a new step in the closed cooperation tie between Pr1voir Vietnam and ABBank in bancassurance sector, according to ABBank.

tuoitrenews

>   Deposit interest rates lowered to 12% (15/11/2010)

>   Interest rates, gold, dollar fluctuate in week (15/11/2010)

>   State Bank pours more capital into interbank system (15/11/2010)

>   Bankers receive risk management tips (12/11/2010)

>   Banks surpass limit on deposits (12/11/2010)

>   Depositors need to be protected by deposit insurance law (11/11/2010)

>   Light vans may be taxed less (11/11/2010)

>   Banks go above limit for deposits (11/11/2010)

>   Vietnam, UK boost cooperation in auditing (11/11/2010)

>   Weekly information on banking activities (Oct 29-Nov 05, 2010) (10/11/2010)