BAC A BANK continuing to demonstrate responsibility

The bank was one of the first major groups in the country to mobilise resources and cash for localities badly hit by the pandemic

After the pandemic resurged in many areas across Vietnam last month, Bac A Commercial Joint Stock Bank (BAC A BANK) came to the aid of those areas worst hit by presenting nearly 67,000 milk glasses, 12,000 water bottles, 800 face shields, and money to purchase vaccines for many localities nationwide.

This was just one of the latest actions by the bank, which is now taking more drastic and timely actions as well as working with other groups to share difficulties with the community, especially for children in many isolated areas in locations like Bac Giang, Bac Ninh, Hanoi, Vinh Phuc, Dien Bien, Thai Binh, and Khanh Hoa.

On June 5, at the launching ceremony of Vietnam’s national COVID-19 Vaccine Fund in Hanoi on June 5 evening, BAC A BANK, TH Group, and the Vietnamese Stature Foundation (VSF) donated VND46 billion ($2 million).

The three groups also provided the community with assorted drinks, medical equipment, and two high-frequency ventilators which support urgent treatment, with a total value of $3.3 million to fight the pandemic.

“We do believe and highly appreciate the government’s great efforts in fighting against the pandemic and maintaining production and business activities in order to spur on national economic development,” said Tran Thi Nhu Trang, director of the VSF. “We, BAC A BANK, and TH Group as well as many other businesses and individuals, with our big heart and responsibility to the community, are determined to work with the whole country to weather all difficulties and push back the pandemic.”

A responsible bank

Right after the COVID-19 pandemic appeared in the country last year, BAC A BANK was one of the first to deploying practical activities, such as mobilising staff to strictly implement regulations on medical declarations and health protection at its working places.

The bank has also been flexible in adjusting working methods in a manner more suitable to the new normal, with active implementation of necessary anti-pandemic measures such as wearing face masks and shields, washing hands with sanitisers, and taking temperature at working places.

Each staff member at BAC A BANK is considered a soldier to fight against the pandemic, and raise the awareness of other people in the community in preventing the health crisis. This has helped the bank safely ensure its effective operations and services for customers.

All BAC A BANK employees take the initiative in learning all information and guidance from the government’s directions. In addition, they have also refrained from taking business trips and travelling inside and outside the country, as well as from visiting public places or crowded events, and from working physically with partners. Physical meetings have been replaced by online ones.

Especially, the staff at counters of transaction spots always strictly abide by the bank’s regulations in working with customers, such as wearing face masks and gloves, giving masks to customers, and taking temperatures of customers as well.

In order to minimise risks caused by the pandemic, BAC A BANK has offered many preferential and attractive promotion programmes and products, such as free-of-charge interbank money transfer round the clock on its internet banking or mobile banking platforms; free-of-charge account transaction of enterprises; and many other incentives for the opening of salary-payment accounts for both enterprises and labourers.

Other special programmes include one with preferential lending rate for supporting enterprises hit by the pandemic. This programme has been implemented since early 2020, with a 1 per cent reduction of lending rate as compared to the existing rates applied.

In another scheme, BAC A BANK has offered an annual lending rate of 7.25 per cent applicable to middle- and long-term loans, with an inclusion of free-of-charge transactions in money payment for and withdrawal from accounts, and money transfer.

BAC A BANK has also carried out another programme on offering incentives to payroll accounts, with a reduction of fees for both enterprises and individuals who join the bank’s services such as account service, e-bank service, card service, and money transfer service.

Customers, in addition, have also been able to participate in free-of-charge services when they transfer money via the bank’s internet, mobile, and SMS banking. Furthermore, individual customers are also offered a low lending rate of 6.69 per cent annually.

With its timely moves, BAC A BANK has always enhanced its social responsibility in the society which all people and all socioeconomic facets are being hurt by the pandemic.

Fighting against COVID-19

In response to movements by the government and the State Bank of Vietnam early last year in light of the pandemic, BAC A BANK and the VSF also donated VND5 billion ($21,700) to combat the pandemic. The sum was handed to the representatives of the Central Committee of Vietnam Fatherland Front and the Ministry of Health.

Then in April 2020, BAC A BANK, TH Group, and VSF presented two high-frequency ventilators worth VND2 billion (nearly $87,000) to Nghe An Friendship General Hospital in the central province of Nghe An. The bank’s presentation of ventilators was of great significance as at that time the province was entering a stage of strongly fighting against COVID-19 with a lack of medical equipment.

Also amid the pandemic, branches in many localities such as Haiphong, Danang, Quang Binh, Ha Giang, Hue, and Ho Chi Minh City simultaneously launched a movement in which staff donated one-day salary to the country’s fight against COVID-19.

Thousands of milk glasses have been transported to the areas hit by the pandemic, in addition to assorted types of support such as rice, face masks, sanitisers, and mouthwash having been handed out to people in isolated areas, medical centres, and to poor people.

BAC A BANK was established and came into operation in 1994, with initial charter capital of VND20 billion (around $870,000).

Over the past 27 years, BAC A BANK has increased the capital many times in order to strengthen its financial capacity and competitiveness, with an expansion in capital mobilisation and provision of loans, as well as in investment portfolios and network with a total existing number of 146 transaction spots in 32 cities and provinces nationwide. At present, the bank boasts a chartered capital sum of VND7.05 trillion (over $306 million).

Steadfast in establishing itself as a responsible and reliable lender, BAC A BANK has created a good generation of customers with sustainable development, with its increased investment into high-tech sectors and modernised agriculture and rural development, as well as social security, such as agro-forestry-fishery, clean medical herbs, healthcare, and education.

BAC A BANK pursues sustainable values for investors, and wellbeing for the community. One of the bank’s core values is to focus and foster human development, so besides its business activities, BAC A BANK has always been paying special attention to charitable activities and social security.