Banks banned from making profit from new notes in Tet festival

The Governor of the State Bank of Vietnam (SBV) strictly forbid banks and banking staff from supplying traders with new banknotes to make profit in a recently issued document.
New banknotes especially low value types are in high demand for New Year presents or lai shi every Tet festival.
Banks are not allowed to put into circulation newly printed banknotes with the par value of VND5,000 and lower and intact serial number in stock. They can spend used banknotes to meet payment demand of citizens.
The central bank asks its branches and banks in provinces and cities to seriously abide by the Governor’s instructions to ensure safe and thorough operation of the banking system in the Tet holiday.
They should focus on ATM service to meet cash demand of businesses and individuals in a timely manner, prepare for overloading at ATMs in big cities and work with authorized agencies to prevent risks.

By Ham Yen – Translated by Hai Mien

Other news


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).