SHB, HDBank licensed to trade gold bars

Saigon - Hanoi Commercial Joint Stock Bank (SHB) and Ho Chi Minh City Housing Development Bank (HDBank) said that the Governor of the State Bank of Vietnam decided to allow these two banks to trade in gold bars from January 10, 2013.

Gold trading at HDBank. (HDBank).

Accordingly, customers coming to SHB for transactions will have more choices of products and services. In addition to regular banking transactions such as savings, money transfers, loans, etc., customers can buy and sell SJC gold bars and especially customers can deposit gold in the bank to avoid risks in transportation and storage.

Mr. Nguyen Van Le - General Director of SHB shared: "With investment in equipment for testing and measuring machines along with a team of enthusiastic and professional staff, updating gold prices on the website, posting and updating gold prices on electronic boards at gold transaction points... prestige and quality, SHB believes that customers will be satisfied when buying and selling gold bars or using gold bar custody services at SHB."

HDBank also said that from January 10, individual and corporate customers will be able to easily buy and sell spot gold bars at 122 HDBank transaction points nationwide at the most preferential price. The type of gold traded is SJC 9999 gold bars (1 chi, 2 chi, 5 chi, 1 luong). Customers can transact directly at the counter, with simple, convenient and fast procedures.

In addition, HDBank also provides gold custody services when customers have a need, ensuring the safety of customers' assets. Gold custody at HDBank for 7 days or more is completely free.

According to Mr. Nguyen Huu Dang, General Director of HDBank, the Bank has a tradition of trading gold and is one of the first banks licensed to trade gold bars since 1999 at all transaction points nationwide with many preferential programs for customers. HDBank's continued licensing of gold bar trading will help customers have more safe gold trading channels, with preferential prices for both buying and selling gold bars.

Previously, Maritime Commercial Joint Stock Bank (Maritime Bank) also said that 116 Maritime Bank transaction points nationwide are still allowed to buy, sell, and keep gold. This is a service that the Bank has deployed for more than a year now.

Mr. Nguyen Quang Huy, Director of the Foreign Exchange Department - State Bank said that from tomorrow (January 10), the new network system will be put into operation. To have a network of nearly 2,500 licensed transaction points in a short time is the effort of the entire system of branches of the State Bank from central to local levels and credit institutions.

Mr. Huy also said that for gold trading enterprises, they have their own advantages in terms of business, however, credit institutions have the advantage of a nationwide network, so the State Bank has taken advantage of credit institutions to build a network to meet the essential needs of the people.
Previously, on December 28, 2012, the State Bank decided to grant licenses to 17 credit institutions and 14 enterprises that met the conditions, documents, and procedures specified in Decree 24 and Circular 16. Therefore, these 31 units have 2,456 standard gold bar buying and selling transaction points in 63 provinces and centrally-run cities.

Thus, up to now, the whole country has 38 credit institutions and enterprises (22 credit institutions and 16 enterprises) licensed to trade in gold bars. The State Bank said it will closely monitor the gold market developments in the coming days to make appropriate adjustments./.

According to (Vietnam+) - LT