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Banking - Finance
Tuesday, 09/09/2014, 09:57
VietinBank dominates bank card market
09/09/2014
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is leading in credit card transaction revenues and the number of cards issued in Viet Nam.
The Euromonitor International said in a report last week that VietinBank has seen spectacular growth in transaction revenues and in the number of cards issued, with a year-on-year increase of 144 per cent and 166 per cent respectively between 2008 and 2012.
There are signs of economic recovery in Viet Nam after the crisis, the report said.
Euromonitor International is optimistic about the Vietnamese bank card market because it has grown at a consistent double-digit rate.
The report said that debit cards are the most popular cards, accounting for the majority of financial cards in circulation in Viet Nam.
In 2013, VietinBank upgraded its ATM system, and added the new cash deposit utility in all its automated teller machines (ATMs) including card-less cash withdrawal.
The bank also possesses a diverse product portfolio such as Cremium Visa, Cremium MasterCard, Cremium JCB and Visa Debit 1Sky.
The London-based Euromonitor International is a global market research organisation with more than 1,000 analysts and consultants, and is a reliable source of information for economic organisations and corporations.
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