Bank, electric utility forge direct bill-paying system

Customers will be able to pay their electricity bills directly through their bank under a co-operation agreement signed by the HCM City Housing Development Bank (HDBank) and the Electricity and Telecommunication Solutions Joint Stock Co (ECPay).

Under the agreement, HDBank and ECPay will jointly provide electricity bill payment services via the bank, making it easier for clients of electricity and telecom firms to access various payment channels.

ECPay will be a strategic customer of HDBank in credit activities, supply of banking products and services, and investments in order to exploit beneficial synergies.

HDBank will supply banking and financial services and products and preferential credit support for ECPay.

It will also provide personal financial products and services on preferential terms for ECPay's staff members and agents responsible for collecting electricity bills.

The bank will provide financial status proof and guarantee services for ECPay's agents in line with its conditions and regulations.

Support industries

HDBank has also announced a financial support programme that aims to catalyse the development of the country's support industries.

The programme, which began last month, provides soft loans to enterprises involved in the assembling of autos, motorbikes, electronic equipment, mechanical engineering, textile and garments and leather shoes industries.

If owners of projects involved in support industries are small or medium-sized enterprises they will not only receive financial support, but also enjoy the bank's value-added services such as advice in preparing production, business and investment plans, carrying out trade promotion programmes, and completing necessary procedures for borrowing capital.

Those eligible for HDBank financial support programmes include individuals, households, cooperatives and enterprises.

Bank officials say the programme is part of its drive to help accelerate the development of domestic support industries and reduce reliance on imports.

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