|
| Trinh Van Tuan (C), general director of OCB, introduces his bank’s new product and promotion program at a news briefing in HCMC on Wednesday - Photo: Thu Thuy |
HCMC – With a new rule on higher safety ratios coming into force in early October, Orient Commercial Bank (OCB) on Thursday launched a new deposit product and a VND7.5-billion promotion program to accelerate fund raising.
The bank’s promotion program from September 1 to November 27 will award VND7.5 billion in prizes for depositors in lucky draws. Those who deposit a minimum of VND5 million or US$300 are eligible to join the draws.
The special prize is an apartment worth VND1.1 billion in Thinh Vuong Residential Place project in District 2 in HCMC.
The bank’s new product links payment and call deposit accounts for customers, so they just need to register a maximum amount for payment when opening the account. The surplus in this account will be automatically transferred to a demand deposit account with a higher interest rate, at 5.8% per year.
Trinh Van Tuan, new general director of the bank, told a news briefing in HCMC on Wednesday that those products were designed to retain existing customers and attract new deposits to meet the safety ratio requirement provided in the central bank’s Circular 13.
The circular requires banks to ensure the ratio of outstanding loans to raised funds is 80%. But the current ratio of OCB is 90%.
In the first eight months of the year, OCB obtained VND250 billion in pre-tax profit, 62.5% of the year’s target.
