Banks, stock exchanges maintain operations normally

The State Bank of Vietnam – Ho Chi Minh City Branch said that city-based commercial banks still arrange employees to work in turns to meet the cash withdrawal demand at counters and ATMs despite the implementation of the Directive No.16/CT-TTg on social distancing within two weeks as of 12 a.m. on April 1 this year.
The State Bank of Vietnam ordered affiliated credit institutions and enterprises to actively arrange employees following their pandemic prevention and control plans and scenarios. However, they must ensure meeting the demand for essential banking services of people, especially ensuring the continuous operations of online banking services and ATMs.

The heads of credit institutions should proactively notify local authorities of places that need to maintain operations and organize transactions to meet the essential needs of people and the economy.

The Information and Technology Agency also appoints employees to take turns to ensure the smooth operation of electronic banking and electronic wallets so that people can make payments without using cash to limit going out.

The SBV-HCMC Branch affirmed that the banking system has enough cash to serve daily spending needs of people and enterprises, at the same time recommended that people should not take too much cash home as it might cause dangers and security issues for themselves.

Vietcombank said that it still opens five days a week to service customers, at the same time, asks its customers to cooperate with its employees to comply with the regulations in the offices and keep a safe distance.

Sacombank’s transaction offices still operate normally. However, the bank recommended its customers to use the card and online services to make payments, deposits, and consumer loans via its applications.

NamA Bank said that it has implemented a plan for its employees to take turns working from home and at the bank to meet all the financial needs of customers. 

The State Securities Commission (SSC) requested relevant organization operating in the securities industry, including stock exchanges, the Vietnam Securities Depository Center, fund management companies, nominated banks, and depository banks, to maintain their operations, as usual, increase online transactions, and at the same time, obey the regulations of the Government and provinces on the prevention of the disease.

To ensure the smooth operation of the stock market, the SSC requests the People's Committee of cities and provinces to put the securities industry into the list of essential services to facilitate the stock market in general and activities related to the stock market to operate normally.

Regarding this matter, Mr. Tran Van Dung, Chairman of the SSC, said that the stock market will continue to trade normally because trading activities on the stock market are essential services, whose transactions must be ensured safely, stably, and smoothly in all situations.

The first trading session in April of Vietnam’s stock market was rather positive thanks to the breakthrough of banking and securities stocks. Particularly, SSI hit the ceiling; VCB rose 4.8 percent; BID surged 4.1 percent; CTG rocketed 6.4 percent. Moreover, several large-cap stocks, including BVH with an increase of 7 percent, VNM with an increase of 3.3 percent, PNJ with an increase of 5.9 percent, and PLX with an increase of 6.6 percent, contributed to sending the VN-Index up by nearly 18 points.

The VN-Index soared 17.7 points, or 2.67 percent, to close at 680.23 points with 287 stocks increasing, 86 decreasing, and 76 remaining unchanged.

The HNX-Index escalated 2.97 points, or 3.21 percent, to finish at 95.61 points with 99 stocks advancing, 52 retreating, and 217 standing still. 

Foreign investors continued to net sell more than VND125 billion, or 7.4 million shares.

By Nhung Nguyen – Translated by Bao Nghi

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