The information was released by Director of the State Bank of Vietnam (SBV), Ho Chi Minh City Branch Vo Minh Tuan at a press conference on the socio-economic situation in the city which was hosted by the Propaganda and Education Board of the Ho Chi Minh City Party Committee in collaboration with the Municipal Department of Information and Communications on March 21 afternoon.
At the press conference, Deputy General Director of Vietnam Export Import Commercial Joint Stock Bank (Eximbank) Nguyen Ho Hoang Vu informed about the case of a customer with 11-year credit card debt up to VND8.8 billion (US$353,000) arising from overdue payment from an initial amount of VND8.5 million (US$341).
According to the regulations of Eximbank, for customers failing to pay their credit card debt on the overdue date, the bank employee will report the situation to its leader before notifying its customers.
However, in this case, the bank’s debt settlement staff directly sent notifications to customers without receiving any authorization from the bank leader causing concern for its customers.
On March 19, representatives of Eximbank had a meeting with the customer and the two sides agreed to solve the problems and ensure the mutual interest.
Deputy General Director of Vietnam Export Import Commercial Joint Stock Bank Nguyen Ho Hoang Vu affirmed that the bank would not collect the amount of VND8.8 billion (US$353,000) from the customer.
Regarding the case, the Director of State Bank of Vietnam (SBV), Ho Chi Minh City Branch added that the SBV- HCMC branch would direct the credit institutions in the city to review all credit cards, thereby proactively working with customers to ensure their interests as well as prevent similar cases from occuring.
Besides, the SBV also required the credit institutions to fully provide information about their products and services for customers, publicize their fees and only collect the fees according the publicized list of fees of the banks.
In addition, it is important to clarify information between the customer and the bank, ensuring that all transaction details are being notified to the customer.
