The Central Bank of my country announced the launch of its own legal digital currency DC/EP on May 8, 2020, and it is conducting trials in many cities across the country. The European Central Bank (ECB) is expected to accelerate research on the digital euro in the next few months and launch the digital euro as soon as possible.

The EU takes the first step in the “digital euro”

The European Union has always been more cautious about digital currencies. This is due to the protection of the stability of the euro and European financial considerations. However, as some countries have successively launched the process of launching sovereign digital currencies, including some well-known companies have also launched digital currencies, the EU cannot turn a blind eye.

While cautious, the EU is also preparing for the advent of the digital currency era. In 2018, the European Union promulgated the “Fifth Edition of the Anti-Money Laundering Order”. In this decree, the EU classifies cryptocurrency business and banking, payment processing, gaming and other services into the same legal category, which in fact provides protection for cryptocurrency business.

According to the previous agreement reached by the EU finance ministers, when the risk of digital currency has not been completely eradicated, or the relevant legal and supervisory framework has not been established, the EU will eliminate the use of private digital currencies, and member states shall not include the introduction of encrypted currencies. Its laws and regulations. Although Europe is not as active as the United States and China in the era of digital economy, as a highly developed capital-intensive region, Europeans’ consumption, savings, and investment behaviors are becoming more and more digital, and the euro’s trust in the member states is also based on this. Starting point, the European Central Bank has drawn a rough blueprint for the future “digital euro”.

In October 2020, the European Central Bank officially issued a document introducing the European Union’s plan to develop digital currencies. The European Central Bank believes that no matter which technology the “digital euro” uses, it must be strictly distinguished from encrypted currencies. The EU’s vision for the “digital euro” is to be safe, efficient, convenient, and legally compliant, while at the same time building a high degree of trust among EU citizens.

The digital euro may suck up 8% of deposits in eurozone banks

According to previous news, the European Central Bank (ECB) will speed up the study of the digital euro in the next few months. Although there are still a few years before the final launch, it has not neglected the impact of the launch of the digital euro.

Whether the introduction of a digital sovereign currency will eat into the funds in the current commercial bank accounts is something that more than 90% of the world’s central banks that are studying digital currencies need to consider. For the European Union, the member states cannot be ignored.

Morgan Stanley analysts estimate that all euro zone citizens over 15 years old will transfer 3,000 euros ($3,637) to a “digital wallet” controlled by the European Central Bank. This estimate is based on a “bear market” scenario.

The digital euro may suck up 8% of customer deposits in euro zone banks, especially for small countries such as Estonia, Slovakia, Latvia, and Lithuania, which will be more than 8%. In theory, this could reduce total deposits in the Eurozone by 873 billion Euros (close to 8%).

Digital euro can provide better privacy protection

Although the European Central Bank has a lot of concerns about all kinds of digital currencies, in terms of protecting privacy, Fabio Panetta, a member of the ECB’s executive board, believes that the digital euro will play a positive role and can also protect the euro zone from the “threat” of cryptocurrencies. Officials of the European Central Bank believe that if the European Central Bank participates in digital payments, it will pay more attention to privacy protection than private companies. Compared with private companies that collect large amounts of data from users to satisfy their business interests, the European Central Bank will not store, manage, and user data. Involving commercial interests. It is reported that the European Central Bank has conducted a small offline payment experiment before. Transfers of tens of euros or even hundreds of euros can be completed through Bluetooth between devices. There will be no payment except in the wallets of the payer and the payee. data record. There is no doubt that payment privacy is one of the main concerns when people use digital currencies, and the European Central Bank is trying to show everyone that it has the ability to separate identity information from payment information. If everything goes smoothly, it is expected that the digital euro will circulate on a large scale in the euro area around 2025

The People’s Bank of China issued a press release on Monday stating that it has recently interviewed the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank, and Alipay (China) with limited internet technology regarding banks and payment institutions providing services for virtual currency trading Companies and other banks and payment institutions. This move is aimed at combating Bitcoin and other virtual currency trading hype and maintaining financial security and stability.

According to people familiar with the matter, Ya’an City in Sichuan Province has assured relevant provincial departments that all Bitcoin and Ether mining companies will be cleaned up within one year.

After the Fed’s policy stance turned to hawks last week, the market’s interest in risky assets has diminished. “If, as I expected, the global trend of buying everything this week cools down further, then Bitcoin will feel the cold wind,” Oanda Asia Pacific Pte. Said Jeffrey Halley, senior market analyst at.

Some commentators said that with increasingly strict regulations, China’s computing power-the computing power used for mining and processing blockchain transactions-is waning

The People’s Bank of China issued a press release on Monday stating that it has recently interviewed the Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank, and Alipay (China) with limited internet technology regarding banks and payment institutions providing services for virtual currency trading Companies and other banks and payment institutions. This move is aimed at combating Bitcoin and other virtual currency trading hype and maintaining financial security and stability.

According to people familiar with the matter, Ya’an City in Sichuan Province has assured relevant provincial departments that all Bitcoin and Ether mining companies will be cleaned up within one year.

After the Fed’s policy stance turned to hawks last week, the market’s interest in risky assets has diminished. “If, as I expected, the global trend of buying everything this week cools down further, then Bitcoin will feel the cold wind,” Oanda Asia Pacific Pte. Said Jeffrey Halley, senior market analyst at.

Some commentators said that with increasingly strict regulations, China’s computing power-the computing power used for mining and processing blockchain transactions-is waning

Reporter | Zeng Lingjun

China Chengxin International recently released a follow-up rating report on Sichuan Tianfu Bank. The report shows that the bank’s credit rating outlook has been adjusted from stable to negative. This indicates that the credit level of Tianfu Bank may decline in the next 12 to 18 months.

It is understood that this is the first city commercial bank whose rating outlook has been adjusted to negative this year. “The downgrading of the rating may affect the interest rate of the bank’s bond issuance. The lower the rating, the higher the interest rate of the bond issuance, which will increase the cost and difficulty of financing.” A banker commented to an interface news reporter.

Zhou Maohua, an analyst at the Financial Markets Department of Everbright Bank, told Jiemian News that company ratings are one of the important basis for investors to price companies and related assets. There are many factors that trigger downgrades of companies or institutions, such as macroeconomics, policy changes, and emergencies. , The company’s internal management issues, etc., caused changes in the company’s fundamentals, business prospects, and asset quality.

Regarding the reasons for the rating downgrade, China Chengxin International mentioned that Tianfu Bank faces many challenges, including the slowdown in macroeconomic growth and the pressure on bank operations and asset quality caused by changes in the regional credit environment, as well as continuous credit assets and non-standard investment risks. Exposure and profitability have been significantly weakened, deposit stability has become weaker, and liquidity management pressure has increased.

Last year, Tianfu Bank’s revenue and net profit both declined significantly: net operating income was 4.324 billion yuan, a year-on-year decrease of 9.46%; net profit was 846 million yuan, a sharp drop of 42.11% year-on-year.

China Chengxin International also mentioned that the bank’s loan and non-standard investment risks continue to be exposed, and the resolution is increasing, and future credit risk management and control will still face pressure.

As of the end of 2020, the bank has no non-performing balances in non-standard investments, but special mention loans are 6.213 billion yuan, accounting for 23.97%. The financiers are mainly real estate and trading companies in Sichuan and Guizhou. “On the whole, the bank’s securities investment accounts for a relatively large proportion of non-standardized debt investments, and they have already experienced significant impairment. The information transparency of such investments is low, and they face greater pressure to withdraw impairment reserves, and related risks need to be maintained. Pay close attention.” The report mentioned.

As of the end of 2020, the bank’s non-performing loan balance increased by 341 million yuan to 2.612 billion yuan year-on-year, and the non-performing loan ratio increased by 0.02 percentage points from the beginning of the year to 2.00%.

In addition, the rating report also hints at the liquidity pressure of Tianfu Bank. As of the end of 2020, Tianfu Bank’s assets due within one year accounted for 39.58% of total assets, and liabilities due within one year accounted for 60.86% of total liabilities. The maturity gap within 2-7 days at the end of the year was -6.27 billion yuan. Facing greater pressure on liquidity management.

According to the official website of Tianfu Bank, the bank was established in 2001 and successfully introduced German strategic investors in 2005, becoming China’s first secondary city to introduce foreign capital. Its current asset scale is 216.181 billion yuan.

The bank’s equity is relatively dispersed. As of the end of last year, the top five shareholders of the bank’s shareholding ratios were: Sichuan Mingyu Group Co., Ltd. (9.98%), Nanchong Union Industrial Co., Ltd. (9.98%), and Chengdu Yunji Real Estate Development Co., Ltd. Liability company (9.93%), Chengdu Fengzhilin Trading Co., Ltd. (9.89%), Nanchong Jinnan Industrial Co., Ltd. (4.99%)

The content of the approval showed that the China Banking and Insurance Regulatory Commission agreed to Hengfeng Bank’s investment of RMB 2 billion to prepare for the establishment of Hengfeng Wealth Management Co., Ltd., and the required funds were allocated from the capital. Hengfeng Bank shall handle the preparatory work in strict accordance with the requirements of relevant laws and regulations, and complete the preparatory work within 6 months from the date of approval. After the completion of the preparatory work, an application for opening business shall be submitted to the China Banking and Insurance Regulatory Commission in accordance with relevant regulations and procedures.

In addition, the China Banking Regulatory Commission also mentioned in a document published on the same day that the China Banking Regulatory Commission also agreed to prepare for the establishment of the Hengfeng Bank Fund Operation Center, which will be completed within 6 months from the date of approval. Accept the supervision and guidance of the Shanghai Banking and Insurance Regulatory Bureau during the preparatory period, and submit an application for opening business in accordance with relevant regulations and procedures after the preparatory work is completed.

It is reported that as early as the end of last year, Hengfeng Bank issued an announcement stating that the company plans to invest no more than 2 billion yuan to establish a wholly-owned Hengfeng Wealth Management Co., Ltd. This time, Hengfeng Bank was approved to establish a wealth management subsidiary, and it will become the second commercial bank approved to establish a wealth management subsidiary during the year.

According to the 2020 annual report of Hengfeng Bank, as of the end of 2020, Hengfeng Bank’s total assets reached 1.1 trillion yuan, achieving 21 billion yuan, 53%. It was 5.3 billion yuan, a year-on-year increase of 703%. The provision coverage ratio was 150.37%, an increase of 29.54% from the end of 2019. The non-performing loan ratio was 2.67%, a decrease of 0.71 percentage points from the end of 2019, achieving a decline for two consecutive years

Reporter | Hu Yingjun

The second bank’s wealth management subsidiary was approved during the year.
On June 21, the official website of China Banking and Insurance Regulatory Commission issued the “Approval for the Establishment of Hengfeng Wealth Management Co., Ltd.”, agreeing to Hengfeng Bank’s investment of 2 billion yuan to build Hengfeng Wealth Management Co., Ltd., and the required funds should be allocated from the capital. Hengfeng Bank shall handle the preparatory work in strict accordance with the requirements of relevant laws and regulations, and complete the preparatory work within 6 months from the date of approval. The preparation work accepts the supervision and guidance of the China Banking and Insurance Regulatory Commission. During the preparation period, no financial business activities are allowed. After the completion of the preparatory work, an application for opening business shall be submitted to the China Banking and Insurance Regulatory Commission in accordance with relevant regulations and procedures.
Hengfeng Wealth Management is the second bank financial management subsidiary approved after Bohai Wealth Management in 2021. This also means that among the 12 national joint-stock banks, 11 bank financial management subsidiaries have been approved.
According to Jiemian News reporter, Hengfeng Wealth Management is registered in Laoshan District, Qingdao. This is also the second bank wealth management subsidiary registered in Qingdao in addition to Everbright Wealth Management.
A relevant person from Evergrowing Bank stated that expanding retail is a major strategy that the bank has always adhered to. The closed-end wealth management products launched by the bank, such as the Great Profit series and the Zengxiang series of wealth management products, and the open-end wealth management products such as the Hengmeng wallet, the progressive T+1 gain-winning series, and the Hengxin series of net wealth management products, are both profitable. And liquidity, which can meet the wealth management needs of different types of customers, has always been popular in the market. The establishment of a wealth management subsidiary has been approved, which has opened up a broad space for Evergrowing Bank to expand its retail business and expand its asset management landscape. Hengfeng Wealth Management will be guided by the steady value-added of management assets, taking digital transformation as an opportunity, and agile services as a means, focusing on improving investment and research capabilities and risk control capabilities, resolutely returning to the business origin of asset management, and taking serving the real economy as the foundation and working hard to achieve Customers provide long-term stable returns.
Hengfeng Bank is one of 12 national joint-stock commercial banks, formerly known as Yantai Housing Savings Bank established in 1987. In 2003, approved by the People’s Bank of China, it was restructured into Evergrowing Bank Co., Ltd. In 2019, the market-oriented reform stock reform account was completed, and Central Huijin became the largest shareholder.
Hengfeng Bank is headquartered in Jinan, Shandong, and has 310 branches across the country. Financial data shows that as of the end of 2020, Hengfeng Bank’s total assets reached 1.1 trillion yuan, and its operating income was 21 billion yuan, a year-on-year increase of 53%. Net profit was 5.3 billion yuan, a year-on-year increase of 703%. The provision coverage ratio was 150.37%, an increase of 29.54% from the end of 2019. The non-performing loan ratio was 2.67%, a decrease of 0.71 percentage points from the end of 2019, achieving a decline for two consecutive years.
At the end of the reporting period, the scale of various wealth management products maintained by Hengfeng Bank was RMB 110.685 billion. Among them, the pressure on capital preservation and financial management dropped to zero

Fee dispute BGH ruling costs banks millions

As of: 06/17/2021 3:40 p.m.

Deutsche Bank and Commerzbank have to set up provisions in the three-digit million range because of the BGH’s fee ruling. Savings banks and Volksbanks do not provide any information. The decision of the Federal Court of Justice (BGH) on possible fee reclaims from bank customers is costing the industry millions. Commerzbank expects charges “in the mid double-digit million range”, which are to be booked in the second quarter of 2021, said the CFO of the Frankfurt group, Bettina Orlopp. The ruling is also likely to have an impact on earnings. However, the bank is sticking to the forecast for 2021 of income above the previous year’s level. Thanks to the income from the IPO of the US startup Marqeta, Commerzbank will be able to offset the burden of the BGH ruling, Orlopp said. The second largest German commercial bank has held a stake in the US company since 2015. The amount of their current share is not known.

Deutsche Bank speaks of 300 million euros

Last week, Deutsche Bank was the first institute to issue an estimate of the possible burdens from the BGH ruling. CFO James von Moltke spoke of a total of around 300 million euros. The bank therefore wants to set aside a provision of 100 million euros in the second quarter for possible customer claims. In addition, the institute expects earnings losses of around 100 million euros each in the second and third quarters.

Von Moltke admitted that the Karlsruhe judges’ verdict caught the banking industry off guard. The burdens and yield losses are only temporary. By the fourth quarter, Deutsche Bank will have found solutions to how it can implement fee increases in accordance with the new rules.

BaFin is sounding the alarm

Savings banks and Volksbanks are holding back with statements about possible charges and provisions. A spokesman for the savings bank association DSGV wanted to respond to the request of tagesschau.de do not comment on the subject. A spokeswoman for the largest German savings bank, the Hamburger Sparkasse, said that there had been very few inquiries from customers about the BGH ruling. Therefore, she could not give any information on possible burdens.

The financial supervisory authority BaFin expects the ruling to have serious consequences for the entire industry. “That has the potential to become really expensive for banks. We would not rule out the possibility of half of the annual surplus being in the order of magnitude, which can stand in the fire,” said interim chief Raimund Röseler in mid-May.

Unclear number of reimbursement requests

However, it is still unclear how many customers actually request the reimbursement of previous fee increases. they have to become active themselves. Industry observers also assume that the financial institutions will examine each application individually, so there will be no flat-rate reimbursement.

At the end of April, the Karlsruhe judges decided in proceedings involving the Deutsche Bank subsidiary Postbank that banks must obtain the consent of their customers in the event of changes to general terms and conditions. The clause according to which financial institutions can assume tacit approval if customers do not object to a change within two months, disadvantageous customers inappropriately. Ref .: XI ZR 26/20

In the past few years, if you want to talk to the bank manager that the interest must be a large deposit certificate, your deposit must be more than 300,000 yuan, but now it has changed. Many banks have adjusted this situation and reduced it. Starting from June 2015, the central bank has issued a threshold of 300,000 yuan for personal deposits and 10 million yuan for corporate deposits. In June 2016, the central bank changed the threshold for personal deposits to 200,000 yuan, which is appropriate. Mediation, but the two are inseparable, and the amount of profit enjoyed is still based on the principle of multiple deposits.

Then why is the bank so good and will give you such a high interest rate? In fact, from the perspective of the bank, the increase in deposits also means the expansion of the bank’s scale and the increase of profits. In this way, a cycle is formed, and the certificate of deposit with a larger amount becomes a very important business of the bank.

In order to attract more customers to deposit money in banks, many banks are also making various “big losses”. Some banks have adjusted the interest rate of large deposit certificates to 30%, and some even reached 50%-60%. However, it is estimated that such a large gain is unrealistic without depositing it in the bank for decades. Therefore, in order to realize the real “money making money”, one must look at the large deposit certificate. You can look at a few more banks, and then compare it with The bank manager negotiates how to achieve the highest interest rate.

However, someone inside the bank revealed that if the interest rate is relatively low, you can negotiate the highest interest rate with the bank, or you can go to some small banks. They usually require deposits to settle in, and then give you a higher interest rate return. In this case, If we have 200,000 spare cash in our hands, why should we choose large deposits instead of fixed deposits?

The first reason is that the interest rate of large deposits is very high. In the same bank, the interest rate of large deposit certificates is definitely higher than the interest rate of fixed deposits. According to the standards of relevant departments, the highest rate of increase of ordinary fixed deposits is basically 30%. However, the highest interest rate for large deposit certificates is around 50%, so the gap is not small.

The second reason is that large deposit certificates can be transferred, and interest can be recorded and calculated. We all know that if there is a sudden need for money during the deposit period, then all interest will be lost, but the large deposit certificate will not. If you need money urgently, you can transfer the deposit certificate to others at a low price. The last two people can also win.

Even if you don’t want to resell, you can still enjoy deposit interest. Ordinary time deposits take a long time to get the interest, but if you have a large deposit certificate in your hand, even if you are not full, you can still get the corresponding part. For example, if you deposit for 2 years, but you still have 2 Within months, the interest on fixed deposits will cease to exist. However, a large deposit certificate can be charged for one and a half years of interest, and it can also be received. I have to say that this design is very user-friendly.

Everyone knows the last type of deposit. Nowadays, banks have six options for fixed deposits: three months, six months, one year, two years, three years, and five years. The certificate of deposit is increased according to these three types: one month, nine months and eighteen months. On the surface, there is basically no change. In fact, it has brought us more intangible benefits, so we must choose the correct method and amount of deposit! If you have 200,000 spare cash, which deposit method would you choose? What is your different view on this?

1. Follow the policy and continue to promote the “incremental expansion, quality improvement and cost reduction” of inclusive finance

In terms of “increment”, as of April this year, Zhuhai Bank of China Inclusive Finance (statistical caliber: small and micro enterprises, small and micro business owners, and individual industrial and commercial households with credits of less than 10 million yuan) loan balances were 3.578 billion yuan, a net increase of 934 million that year Yuan, an increase of 35.33%.

In terms of “expansion”, in the first April of this year, Zhuhai Bank of China’s inclusive small and micro enterprises have a net increase of 103 loan holders, a net increase of 32.19% that year. At the same time, the Bank of China in Zhuhai took the initiative to strengthen the policy transmission of the “first lender” and achieved first loans for 35 small and micro enterprises.

In terms of “quality improvement,” BOC Zhuhai optimized credit conditions, increased credit and medium- and long-term loans, and effectively reduced the pressure of guarantees and repayments for small and micro enterprises.As of Aprilend, The bank’s inclusive small and micro enterprise credit loan balance was 1.428 billion yuan, a net increase of 51.11% that year; the inclusive small and micro enterprise’s medium and long-term loan balance was 1.406 billion yuan, a net increase of 73.79% that year.

In terms of “cost reduction”, Zhuhai Bank of China implemented a loan-and-repay, daily-calculated interest calculation rule for inclusive small and micro enterprises, and provided interest rate concessions for companies that comply with the inclusive financial rules.In the first 4 months, the annualized interest rate of inclusive small and micro enterprise loans issued by the bank was higher than that of the previous year.endContinue to steadily drop by 0.38 percentage points.

2. Tailor financing schemes for small and micro enterprises of science and technology innovation in accordance with local conditions

Based on the characteristics and advantages of the local technology and innovation industry and high-end talent pooling, BOC Zhuhai closely focuses on the “14th Five-Year Plan”, “Guangdong-Hong Kong-Macao Greater Bay Area Development Plan Outline” and Zhuhai’s “5+1” industrial layout plan, targeting high-tech enterprises , Technology-based enterprises, and “specialized, special-new” enterprises took the lead in launching the “Zhuhai Science and Technology Innovation Loan” series of products, and innovatively launched the “Zhuhai Yingcai Loan” around the “Zhuhai Yingcai Plan”.These characteristic products abandon the traditional credit concept of “look at the bricks (collateral)”, and use pure credit, equity pledge, intellectual property pledge, government risk sharing and other methods to provide high-tech content and lightassets, Start-up small and micro enterprises provide convenient and flexible financing solutions.

Since September 2020, Zhuhai Bank of China and Zhuhai Municipal Bureau of Industry and Information Technology have jointly implemented the “Cultivation and Development” jointly formulated by Guangdong Provincial Department of Industry and Information Technology and Guangdong Bank of China.Strategic industryCluster Exclusive Financing Service Program”, launched six series of products, including “Strong Chain Loan”, “Extended Chain Loan”, “Supplementary Chain Loan”, “Smart Loan”, “Park Loan”, and “Chuangke Loan”. Provide support for the high-quality development of the manufacturing industryGuarantee.

Based on the innovation of product and service solutions, BOC Zhuhai has also cooperated with Zhuhai Municipal Bureau of Industry and Information Technology, Zhuhai Municipal Science and Technology Bureau and other government units in recent years. 11 special platforms were held on the theme of “Corporate Financing and Smart South Guangdong Tour”activity, To provide comprehensive services of “policy guidance + financing support” for more than 600 small and micro sci-tech innovation enterprises.

Under the dual promotion of products and services, as of Aprilend, The balance of loans to small and micro enterprises in science and technology innovation of the Bank of China in Zhuhai was 1.633 billion yuan, compared with the previous yearendAn increase of 46.59%; the number of loan households was 326, compared with the previous yearendAn increase of nearly 32%. With the support of these loans, more than 10 companies have grown from small and micro to medium-sized, and have launched a listing plan.

3. Precise drip irrigation to enrich people’s livelihoodGuaranteeSmall and micro enterprise credit scenario

Zhuhai Bank of China closely follows policy guidance and market demand, and spares no effort to improve its impact on people’s livelihoodGuaranteeThe service capabilities of similar small and micro enterprises. After the outbreak of the new crown pneumonia in 2020, the Bank of China in Zhuhai responded swiftly and issued the first special re-loan in Zhuhai with the exclusive product of the “anti-epidemic loan”. The total number is 12FocusThe small and micro enterprises in the guarantee list issued 68.17 million yuan of special reloans, and the number and amount of special reloans issued by small and micro enterprises ranked first in the city. At the same time, it has approved a special quota of 552 million yuan for 55 small and micro enterprises related to epidemic prevention, provided 421 million yuan of special funds for 123 small and micro enterprises that need to resume work and production, and approved a special quota of more than 60 million yuan for resumption of work and school for 17 kindergartens. .

Entering 2021, Zhuhai Bank of China will give full play to people’s livelihoods such as “Medical Tongbao”, “Education Tongbao”, “Cultural Tongbao”, “Chunhui Loan”, and “Food Loan”.GuaranteeThe advantages of similar financing service scenarios have continuously expanded the scope of drip irrigation.As of Aprilend, The bank’s balance of loans to small and micro enterprises in the field of people’s livelihood was 228 million yuan, compared with the previous yearendIncreased by more than 20%. Currently, BOC Zhuhai is working with the Zhuhai Municipal Human Resources and Social Security Bureau to implement the “Promoting “Cantonese Cuisine Master”, “Guangdong Skilled Workers”, and “Southern Guangdong Housekeeping” Project to Promote Employment and Entrepreneurship Exclusive Financing Service Plan, in order to meet the needs of the modern industrial system Skilled talents are provided to solve financing problems.

4. Optimize the mechanism to improve the efficiency of inclusive financial services in an all-round way

At the level of institutional services, Zhuhai Bank of China, based on the needs of small and micro enterprises, has established 9 central sub-branches with initiation authority and 3 characteristic branches of inclusive finance throughout its jurisdiction to fully accept the financing needs of small and micro enterprises.

At the level of acceptance and approval, the Bank of China in Zhuhai cooperated with the Inclusive Finance Business Department of the Guangdong Branch of Bank of China to hold regular on-site review meetings in Zhuhai, with the theme of “branch initiation + branch acceptance + provincial approval”Level 3The linkage method integrates the pre-loan investigation, project declaration and credit approval processes in time and space, greatly improving service efficiency.

At the financial technology level, Zhuhai Bank of China will launch the inclusive financial business “online product breakthrough year” in 2021activity, Using the “Bank of China Enterprise E-Loan” series of products as a starting point, providing small and micro enterprises in different industries with diversified credit acquisition channels such as “measured by credit”, “measured by tax” and “measured by house”.

In the next stage, Zhuhai Bank of China will continue to make efforts in the field of inclusive finance, and give full play to the group’s advantages to provide local small and micro enterprises with more warm and in-depth diversified services.

According to the preliminary information calculation of the People’s Data Research Institute, the “10+1” pilot area of ​​the digital renminbi has covered nearly 150 million groups, accounting for approximately 10.7% of the total population. At present, the six major state-owned banks and another online commercial bank have connected to the digital RMB wallet. As of the end of 2020, there have been as many as 6,700 pilot applications of digital renminbi nationwide, covering almost many areas such as ticket purchases, living payments, and catering expenditures. It is reported that in June 2021, a Beijing company used digital renminbi to pay employees’ salaries for the first time.

When the technology of the Internet of Things becomes more and more mature, I believe that the digital renminbi can be used in more aspects of life. However, some people have raised the question that “digital renminbi will replace paper money.” Relevant financial experts said that it is difficult for the digital renminbi to be completely paper money. One is that the current digital renminbi application technology is not mature enough. If the number of transactions reaches a certain limit, it may cause software failures or downtime; the second is that the digital renminbi must be established on the people’s willingness to use it.

With the wave of digital renminbi, more and more payment methods are now available. However, for the older generation, there are still many people who choose to use banknotes. At present, the banknotes we use are still the fifth set of RMB issued in 2019.

What is the difference between the new RMB and the old RMB? Does the old 5 dime coin contain gold?

It is reported that the fifth set of RMB in the 2019 version is not much different from the 1999 version in terms of patterns, tones and specifications. However, in terms of details, the 2019 version of the RMB has increased the saturation of colors, so I look at it. It is more colorful than the old version of RMB; vertical numbers and optically variable security lines have also been added, and the anti-counterfeiting technology has also been greatly improved.

After talking about the banknotes, let’s take a look at the coins. Although very few people use coins now, the coins have not withdrawn from the market. The 1 yuan coin and the 1 dime coin remain basically unchanged, but the change of the 5 dime coin can be called a “makeover”.

If someone still has the old version of the five-point coin in their hands, they will remember that the color of the coin is “local gold”, but the material of the new version of the five-point coin has changed from a copper alloy to a nickel-plated steel core, and the color has also changed from gold to silver. white.

In response to this, there have been different voices in the society. Some people think that the new version of the five-point coin has become silver because it does not contain “gold”. Does the old version of the five-point coin contain gold? In this regard, the bank manager told us the truth behind it.

The bank manager said that the old version of the 5 dime coin does not contain any gold

Why there are such rumors, one is because of the color of the old five-cent coin, because the material is brass alloy, golden yellow is easily reminiscent of gold; the other is that some collectors are trying to coax the old five-cent coin. The collection price, deliberately “spreading” the old version of the idea that the 5 cents contained gold, the purpose is to let more collector coin lovers “fall into the trap”.

Moreover, gold is a precious metal, and its price has always been expensive. According to the price released by China Gold on June 11, 2021, the basic gold price per gram is 387.7 yuan. If the old version contains gold in the 50 cents, the amount of gold spent will be difficult to predict.

Therefore, don’t be “deceived”. Some people think that the old version of the five-corner contains gold and make it into jewelry or necklaces to wear. This practice is already damaging the renminbi and is not allowed by law.

Are the old coins worth collecting?

The reason why it is said that the old version of the 50 cents has gold is to “hype” the price of the collection. Now we all know that gold is not included, so is there any collection value in the old version of the 50 cents? The answer is yes, and the collection value is very high.

The number of old 50-cent coins circulating on the market is already very rare, especially the “old three-flower” five-point plum. It is reported that of all the years, the 50 cents of plum blossoms in 1993 was the most valuable, and then in 1991, 1992 and 1994. This is because in the period from 1991 to 1994, due to the limited production capacity of the country that year, the circulation of the five-pointed plum blossom was not large, and the five-pointed plum blossom was the last circulating coin made of brass alloy, which was valuable for collection. It doubled even more.

Although the old version does not contain gold, but there is the old version of the five-point plum, which can be kept for a good collection, especially the five-point plum coins of the above 4 years, there may be more room for appreciation in the future.

Do you still have the habit of using paper money? Or is there an old version of the 5 dime coin? Welcome to leave your thoughts.

The A-share “NASDAQ” is coming!

The first batch of Double Entrepreneurship 50 ETF was launched, and the Wells Fargo CSI Technology Innovation and Entrepreneurship 50 ETF was approved for release. This means that investors can deploy high-quality leaders on the Sci-tech Innovation Board and ChiNext, because the Double Innovation 50 Index is from the Sci-tech Innovation Board and ChiNext Select 50 listed companies in emerging industries with larger market capitalizations as index samples, including constituent stocks of CATL, Yiwei Lithium Energy, Cambrian, and CICC.

In terms of major events, this week is about to usher in the Super Central Bank Week, including the Federal Reserve, the Bank of Japan, the Swiss National Bank, etc. will announce interest rate resolutions; of course, the market is most concerned about the monetary policy signals released by the Federal Reserve!

At 2 o’clock on June 17th, Beijing time, the Federal Reserve will announce the interest rate decision. Prudent investment friends can wait for their boots to land before making a choice.

Let’s talk about the other conditions of the disk:

The index has stepped back, and there is a tendency to go down. If the volume can barely reach one trillion yuan and the transaction volume can be maintained, the market is fine. The market sentiment after the holiday was suppressed, and the link height was compressed to 2 links. The bad news affects foreign investment.

In terms of subject matter, the liquor concept, semiconductor and component sectors were active. The optical and optoelectronics sector was the top gainer. The Hongmeng concept was weaker and led the decline. The pork and three-child concepts were weaker throughout the day, and resource stocks were making up for losses.

Disassemble the subject matter of the lower board and share the opportunity to adjust the board:

By the way here: Everyone knows the recent market quotations. Not to mention that the bull market is coming, but the bull stock market is definitely coming. Therefore, the author combines the current situation and the hotspot direction,

Through various screenings, several short-term high-quality stocks were obtained. In late June, these stocks will surely be able to bring 60%-90% upside. And the sprint phase will also be around mid to late June.can

In order to say that there are not many opportunities, you can eat meat if you grasp it! The first one can be deployed in the near future. The ticket belongs to the third-generation semiconductor + SMIC + 5G + charging pile + photoresist + automotive electronics concept;

Science and technology revitalize the country, suitable for lurking investors. It is now in the early stage of the rise. Stepping back on the 5-day line is the point of opening a position. Just wait patiently for the wind to come. The focus is lurking.

Interested fans can find “ghy9496” to prepare: Fox, that’s it, everyone should remember that it is a commonly used chat software, get it! In 2021, we will turn the world together!

1. The concept of Hongmeng, benign differences, cut highs and lows, there must be a compensatory rise in the back. But then the operation is more difficult, and the general rise time has passed. Runhe software is the leader of this wave, there must be repeated, appropriate T, low-suction arbitrage, should be able to eat meat.

   Chips, technology stocks continue to ferment and spread. Recently, it has continued to strengthen, and some funds have increased their holdings, and many stocks have been on the rise. Rockchip, the strongest trend in the sector, accelerated its listing today. If you do the same with the trend, you can buy low if you disagree, and there is no sign of ending.

   

   You can also go to the relatively low level by yourself. You can look at Sai Microelectronics, which is relatively low and low in price, and it is 20CM, which is in line with the speculation direction of the disk, and there are expectations behind it.

2. There are also organizations in Masukura that are expected to be the main source of the military industry’s abnormal changes. In the direction of 20CM, Morning Air and Xinyu Guoke both rebounded oversold. In terms of shape, Xinyu Guoke went more smoothly and the recognition of Morning Air was stronger.

   In addition, lithium batteries continue to intensify differences, Yongtai Technology has made up for the decline, Tianqi Lithium once fell to the limit, China Baoan is still rising, 20CM National Technology. Participation is very difficult, and the consideration in the car gradually retreats; those who do not get in the car evade. The liquor sector has also been repaired, so I am willing to make the wine industry on the board and pay attention to the continuity of tomorrow.

   It is a low tide market now, and there is a high probability that it will be adjusted for a few days, so it should not be radical. Control your position, shrink and grow!

   

   Hot topics in the market outlook

   ① Huawei AR/VR

   According to the news, Huawei will hold the 5G+AR Global Online+Offline Summit on June 17, uniting global operators, regulatory agencies, partners, media, analysts, etc., to promote the prosperity of the 5G+AR ecosystem.

   From the disk perspective, virtual reality concept stocks are active against the trend today. The number of daily limit stocks is more than 5, and the number of stocks rising by more than 5% is more than 10. You must know the general decline in the market today. As for who the leading stock is, the market has already selected it, and the stock has gone out of two 20cm in a row.

   

   According to IDC, a consulting agency, in 2021, global VR virtual reality products are predicted to grow by about 46.2% year-on-year, and it is predicted to maintain rapid growth in the next few years. The average annual compound growth rate from 2020 to 2024 is about 48%.

   In addition, the agency believes that the inflection point of VR/AR has emerged after 5 years of technology precipitation. 10 million is an important singularity for the product to enter a new stage, and it will attract more ecological enterprises to enter to jointly enrich the ecological improvement and enrich the content, which is the beginning of the product climbing period. In the second half of 2021, global sales may reach 10 million units, which is the beginning of this singularity.

   Today is strong: Jiachuang Video, GQY Video, Lante Optics, Crystal Optoelectronics, Runjian Co., Ltd., Fortune Technology, Rockchip, etc.

   ② Semiconductor

   From the perspective of the disk, the semiconductor sector is active against the trend. Among them, the semiconductor equipment leader North China Chuang set a record high in the disk. Of course, North China Chuang can also be regarded as the leading stock in this round of semiconductor cycle. In addition to North China Chuang, today there are still many semiconductor concept stocks that have risen by more than 5%.

   The semiconductor industry has entered a historic boom. Driven by digital economy smart applications such as automobiles, servers, Internet of Things, and 5G, the semiconductor market is expected to enter a three-year-old super boom cycle since 2019.

   my country’s integrated circuit industry is developing healthily, and its independent strength is constantly improving. From January to April 2021, my country’s integrated circuit output exceeded 110 billion pieces, a sharp increase of 51.7% year-on-year to a new high. Looking back over the past five years, although my country’s integrated circuit imports still far exceed the export value, the average export growth rate (11%) has exceeded the import (8.8%), and the independent strength has been continuously improved.

   Today is strong: Changchuan Technology, North Huachuang, Anji Technology, Guokewei, Beijing Junzheng, Rockchip, Jingce Electronics, etc.

   ③ Military industry

   In the early trading, the military industry stocks changed. Some time ago, Aviation Power announced that it would carry out cash management of 11.7 billion yuan. In the first quarter, the company only had 4.4 billion currency funds. This gave the market some room for imagination, and the order money may have arrived. In addition, this year’s major aviation OEMs have raised their deposit limits with their respective group finance companies, indicating that the overall funding of the industry is improving.

   July is almost the time to speculate on the interim report, and performance stocks will once again become the darling of the market. For companies with better performance, it is a big plus. The style of the venue will again be dominated by institutions. After all, institutions have an absolute advantage of information asymmetry. What industry has performed well, but it has not risen sharply. This is the strength of the organization and will enter the market early. The institutional model is actually very simple. In June, the institutions went in first, and then the sellers began to blow their votes, the market was concerned, and retail investors poured in. The routine is the same. Feng Shui turns around.

   From the perspective of the disk, the most powerful stocks in the recent military industry sector are the small market capitalization stocks on the Growth Enterprise Market. This can be seen from my stock pool. 40% of the stocks are in line with this point. The current market funds prefer to speculate on low-value stocks on the ChiNext. Of course, the military industry sector is no exception. For example, Dawn Aviation and Tianhe Defense have once again set new highs. Today Dawn Airlines has achieved a 20cm daily limit.

   Leading gains today: Dawn Airlines, Tianhe Defense, Zongheng Stock, Xinyu Guoke, Andaville, Jianglong Boats, Guanglian Airlines, etc.

1. Follow the policy and continue to promote the “incremental expansion, quality improvement and cost reduction” of inclusive finance

In terms of “increment”, as of April this year, Zhuhai Bank of China Inclusive Finance (statistical caliber: small and micro enterprises, small and micro business owners, and individual industrial and commercial households with credits of less than 10 million yuan) loan balances were 3.578 billion yuan, a net increase of 934 million that year Yuan, an increase of 35.33%.

In terms of “expansion”, in the first April of this year, Zhuhai Bank of China’s inclusive small and micro enterprises have a net increase of 103 loan holders, a net increase of 32.19% that year. At the same time, the Bank of China in Zhuhai took the initiative to strengthen the policy transmission of the “first lender” and achieved first loans for 35 small and micro enterprises.

In terms of “quality improvement,” BOC Zhuhai optimized credit conditions, increased credit and medium- and long-term loans, and effectively alleviated the pressure of guarantees and repayment for small and micro enterprises.As of Aprilend, The bank’s inclusive small and micro enterprise credit loan balance was 1.428 billion yuan, a net increase of 51.11% that year; the inclusive small and micro enterprise’s medium and long-term loan balance was 1.406 billion yuan, a net increase of 73.79% that year.

In terms of “cost reduction”, Zhuhai Bank of China implemented a loan-and-repay, daily-calculated interest calculation rule for inclusive small and micro enterprises, and provided interest rate concessions for companies that comply with the inclusive financial rules.In the first 4 months, the annualized interest rate of inclusive small and micro enterprise loans issued by the bank was higher than that of the previous year.endContinue to steadily drop by 0.38 percentage points.

2. Tailor financing schemes for small and micro enterprises of science and technology innovation in accordance with local conditions

Based on the characteristics and advantages of the local technology and innovation industry and high-end talent pooling, BOC Zhuhai closely focuses on the “14th Five-Year Plan”, “Guangdong-Hong Kong-Macao Greater Bay Area Development Plan Outline” and Zhuhai’s “5+1” industrial layout plan, targeting high-tech enterprises , Technology-based enterprises, and “specialized, special-new” enterprises took the lead in launching the “Zhuhai Science and Technology Innovation Loan” series of products, and innovatively launched the “Zhuhai Yingcai Loan” around the “Zhuhai Yingcai Plan”.These characteristic products abandon the traditional credit concept of “look at the bricks (collateral)”, and use pure credit, equity pledge, intellectual property pledge, government risk sharing and other methods to provide high-tech content and lightassets, Start-up small and micro enterprises provide convenient and flexible financing solutions.

Since September 2020, Zhuhai Bank of China and Zhuhai Municipal Bureau of Industry and Information Technology have jointly implemented the “Cultivation and Development” jointly formulated by the Guangdong Provincial Department of Industry and Information Technology and Guangdong Bank of China.Strategic industryCluster Exclusive Financing Service Program”, launched six series of products, including “Strong Chain Loan”, “Extended Chain Loan”, “Supplementary Chain Loan”, “Smart Loan”, “Park Loan”, and “Chuangke Loan”. Provide support for the high-quality development of manufacturingGuarantee.

Based on the innovation of product and service solutions, BOC Zhuhai has also cooperated with Zhuhai Municipal Bureau of Industry and Information Technology, Zhuhai Municipal Science and Technology Bureau and other government units in recent years, with “investment-loan linkage through train”, “BOC Small and Micro Enterprise Digital Credit Core Linking Heart”, and “BOC Small and Medium-Sized Enterprises”. 11 special platforms were held on the theme of “Corporate Financing and Smart South Guangdong Tour”activity, To provide comprehensive services of “policy guidance + financing support” for more than 600 small and micro sci-tech innovation enterprises.

Under the dual promotion of products and services, as of Aprilend, Zhuhai Bank of China’s loan balance for science and innovation small and micro enterprises was 1.633 billion yuan, compared with the previous yearendAn increase of 46.59%; the number of loan households was 326, compared with the previous yearendAn increase of nearly 32%. With the support of these loans, more than 10 companies have grown from small and micro to medium-sized, and have launched a listing plan.

3. Precise drip irrigation to enrich people’s livelihoodGuaranteeSmall and micro enterprise credit scenario

Zhuhai Bank of China closely follows policy guidance and market demand, and spares no effort to improve its impact on people’s livelihoodGuaranteeThe service capabilities of similar small and micro enterprises. After the outbreak of the new crown pneumonia in 2020, the Bank of China in Zhuhai responded swiftly and issued the first special re-loan in Zhuhai with the exclusive product of the “anti-epidemic loan”. The total number is 12FocusThe small and micro enterprises in the guarantee list issued 68.17 million yuan of special reloans, and the number and amount of special reloans issued by small and micro enterprises ranked first in the city. At the same time, it has approved a special quota of 552 million yuan for 55 epidemic prevention-related small and micro enterprises, provided 421 million yuan of special funds for 123 small and micro enterprises that need to resume work and production, and approved a special quota of more than 60 million yuan for resumption of work and school for 17 kindergartens. .

Entering 2021, Zhuhai Bank of China will give full play to people’s livelihoods such as “Medical Tongbao”, “Education Tongbao”, “Cultural Tongbao”, “Chunhui Loan”, and “Food Loan”.GuaranteeThe advantages of similar financing service scenarios have continuously expanded the scope of drip irrigation.As of Aprilend, The bank’s balance of loans to small and micro enterprises in the field of people’s livelihood was 228 million yuan, compared with the previous yearendIncreased by more than 20%. At present, BOC Zhuhai is working with Zhuhai Municipal Human Resources and Social Security Bureau to implement the “Promoting “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping” Project to Promote Employment and Entrepreneurship Exclusive Financing Service Plan” to meet the high-quality requirements of the modern industrial system Skilled talents are provided to solve financing problems.

4. Optimize the mechanism to improve the efficiency of inclusive financial services in an all-round way

At the level of institutional services, Zhuhai Bank of China, based on the needs of small and micro enterprises, has established 9 central sub-branches with initiation authority and 3 characteristic branches of inclusive finance throughout its jurisdiction to fully accept the financing needs of small and micro enterprises.

At the level of acceptance and approval, the Bank of China in Zhuhai cooperated with the Inclusive Finance Business Department of the Guangdong Branch of Bank of China to hold regular on-site review meetings in Zhuhai, with the theme of “Branch Initiation + Branch Acceptance + Provincial Bank Approval”Level 3The linkage method integrates the pre-loan investigation, project declaration and credit approval processes in time and space, greatly improving service efficiency.

At the financial technology level, Zhuhai Bank of China will launch the inclusive financial business “online product breakthrough year” in 2021activity, Using the “Bank of China Enterprise E-Loan” series of products as a starting point, providing small and micro enterprises in different industries with diversified credit acquisition channels such as “measured by credit”, “measured by tax” and “measured by house”.

In the next stage, Zhuhai Bank of China will continue to make efforts in the field of inclusive finance, and give full play to the group’s advantages to provide local small and micro enterprises with more warm and in-depth diversified services.

Prices rise by five percent Highest US inflation since 2008

Status: 10.06.2021 5:44 p.m.

In the USA, consumer prices have risen as sharply as they did almost 13 years ago – which is felt above all by car buyers. The European Central Bank also expects higher inflation in the euro countries. Is it just a short-term phenomenon or is inflation now making its big comeback? In the USA there is a growing fear of ever higher prices. Some are already pulling Parallels to the 1970s when President Jimmy Carter failed to get a grip on high inflation and job misery. Although the USA is still a long way from the double-digit inflation rates of that time, the price jumps are getting bigger from month to month. After inflation had risen above four percent in April, it has now climbed to 5.0 percent in May. That is the highest rate since August 2008. Experts had only expected an increase in the cost of living of 4.7 percent. “The dreaded five has become a reality,” said market observer Thomas Altmann from investment management company QC Partners.

Federal Reserve under pressure

The strong growth impressively proves that the price surge in April was not a slip-up, said LBBW analyst Dirk Chlench. “The US Federal Reserve is coming under increasing pressure to reconsider its view that the recent price hikes are only of a temporary nature.” As in April, the prices for used cars turned out to be the biggest inflation driver. They rose again strongly – and, according to the US Department of Labor, accounted for around a third of the monthly price increase.

Core inflation at its highest level since 1992

Particularly alarming is core inflation, which excludes volatile components such as energy and food. It climbed 3.8 percent in May. The last time there was such a sharp increase was in 1992. In April, the core inflation rate was 3.0 percent. The end of the corona lockdowns and the trillion dollar cash injections by the US government have been driving inflation in the US for months. Prominent economists like Larry Summers, Olivier Blanchard and Mohamed El-Erian warn against underestimating the danger. According to Blanchard, the high government spending under US President Joe Biden could overheat the economy.

Just a passing trend?

Most economists are still looking at the trend with serenity, however. In their opinion, the development is mainly based on temporary factors. The US service sector is back in normal mode in many places. Prices for air travel and hotel accommodation are picking up again and are well above the previous year’s level, says chief economist Thomas Gitzel from VP Bank. “So there are so-called base effects at work once more.” At the same time, the shortage of semiconductors is now at least indirectly affecting consumer prices. If there are no new cars due to a lack of semiconductors, customers switched to used cars. These would have become significantly more expensive. Gitzel predicts that the price level will slowly drop from a high level in the summer months. The US Federal Reserve (Fed) claims that inflation will only pick up temporarily. Because compared to the previous year, the economic downturn in the Corona year 2020 resulted in high rates of price increase. That is why the central bank has not yet seen itself under pressure.

Little movement on Wall Street

Wall Street barely reacted to the renewed surge in inflation. The Dow Jones rose by 0.6 percent, the S&P 500 even jumped to a record high. The US dollar gained against the euro. So investors do not anticipate a tightening of monetary policy in the US for the time being. In the eurozone, too, the money locks are still strongly open. The European Central Bank (ECB) is sticking to its trillion-dollar anti-corona crisis program (PEPP) and plans to expand bond purchases in the next quarter compared to the first three months of the year. In doing so, the central bank wants to avoid tightening the financing conditions for companies, states and private households.

ECB raises inflation forecast

The rising inflation hardly worries the euro watchdogs . The higher euro will dampen inflation, said ECB President Christine Lagarde. Nonetheless, the ECB raised its inflation forecast. According to the central bank, inflation should be 1.9 percent in 2021. In March, the ECB was still assuming an increase of 1.5 percent. For 2022, the monetary authorities expect an annual price increase of 1.5 percent and for the following year unchanged at 1.4 percent. According to the ECB, inflation that is too high can lead to a price spiral. Higher prices mean consumers get less goods for their money. So they demand higher wages in order to be able to maintain their standard of living. In turn, in order to pay the higher wages, companies continue to raise the prices of their products. On the other hand, permanently low prices are seen as a risk for the economy: companies and consumers could then postpone investments – in the hope that it will soon become even cheaper. In the medium term, the ECB is aiming for an annual inflation rate of just under two percent. In Germany, the inflation rate is already above this level. In May the Consumer prices compared to the same month last year by 2.5 percent , the highest value since September 2011.

Despite rising inflation Why the ECB is not raising interest rates

Status: 10.06.2021 8:28 a.m.

Inflation is increasing in many European countries. Nevertheless, the European Central Bank wants to stick to its loose monetary policy. How long can she keep this course? By Klaus-Rainer Jackisch, MR The circular saw is still running. But the little wood that is left is not enough at the front and back. The large warehouse in the North Hessian Baunatal is usually well filled. But wood has been in short supply for weeks. “There has never been anything like it,” says Zimmermann and company owner Peter Hellmuth. The specialist fears further bottlenecks in the summer. Although demand is booming, there could even be short-time working. Because in Corona times there is more handicraft, building and tinkering, but also because the USA and China are buying empty the world market, there is currently too little wood . In April prices were almost 30 percent higher than in the same month last year, and the trend is still increasing, according to the Federal Statistical Office. Also at other raw materials are skyrocketing : Iron, steel and aluminum scrap rose by more than 60 percent, pig iron costs almost a quarter more, and the prices of electronic circuits rose by around 14 percent.

Above all, energy is more expensive

But energy prices climbed the hardest. Imported electricity, which is becoming more and more important because the amount of energy generated from sun, wind and water fluctuates sharply, even rose by 200 percent. People also had to dig deeper into their wallets for electronics and food. Inflation is back. It is coming with great strides. It is currently 2.5 percent in Germany . For the autumn, the Bundesbank and many economists expect inflation rates in this country of over four percent. Such values ​​have not existed for almost three decades. The last time the prices climbed above the four percent mark in 1993. At that time, inflation was 4.5 percent, according to statisticians. The price surge is particularly noticeable in Germany: the return of VAT to the old values ​​and the massive CO2 pricing since the beginning of the year are making themselves felt. The upturn in the economy does the rest: Through successes in vaccinations and easing, the demand for goods and services of all kinds is increasing, while at the same time supply is scarce – all of this is causing prices to go up.

Hardly any compensation through higher wages

Also in Europe: There the inflation rate rose to 2.0 percent in May. In addition to Germany, people in Austria (3.0 percent), Estonia (3.1 percent) and Luxembourg (4.0 percent) in particular have to pay more. All of that hurts, because because of Corona there are rather poor results in the wage rounds and therefore hardly any compensation. This makes price increases even more noticeable. But none of this makes much impression on the European Central Bank (ECB). It is expected that the company’s own forecasts, which will be updated this week, are well above the old estimates. It is also becoming apparent that inflation will by no means abate in the second half of the year as originally expected, but rather, on the contrary, reach new highs. But the monetary authorities in Frankfurt’s Eurotower see no reason to act. For weeks now, the members of the ECB’s Executive Board have repeatedly emphasized that the economy is recovering well, but currently still needs the support of an ultra-loose monetary policy. A repayment of the controversial bond purchases or even a turnaround in interest rates is not even hinted at.

Worried look at the financial markets

Instead, the ECB continues to pump billions from its Corona aid program PEPP into the markets at great speed – currently it is around 80 billion euros per month. This is intended to offer sufficient capital on favorable terms and to keep interest rates low. “The ECB has committed itself to ensuring favorable financing conditions during this phase,” said ECB President Christine Lagarde in Paris last week. This promise will also be kept. In fact, the ECB is not that unhappy about the price surge. The self-imposed inflation target of almost two percent has not been achieved for about ten years because one crisis chases the next. If this is different this year, it could be sold as a great success in your own monetary policy – even if the pendulum swings beyond your own target. In addition, one looks at the financial markets with concern: there share prices, also and precisely because of the ultra-loose monetary policy, have reached a level that has long been decoupled from the real economy in many areas. The central bankers fear that a change in monetary policy could lead to violent reactions and shake the fragile house of cards.

Debt rose sharply

And then there are also the debts: In southern Europe in particular, they have risen again to astronomical heights due to the collapse of tourism in the wake of the coronavirus crisis: Greece, for example, currently has a gross domestic product debt of around 205 percent. This is the highest level in the euro zone and more than during the Greek crisis. Italy, too, is groaning under excessive debts and ailing banks. An increase in the interest rate would not be right. Italy’s central bank chief Ignazio Visco is therefore particularly busy when it comes to sticking to the current monetary policy: “Large and sustained increases in interest rates are not justified by the current economic outlook and will be countered,” he said at the annual meeting of the Banca d´Italia in Rome. In fact, a new debt crisis in the euro zone, triggered by rising interest rates, would be the last thing the monetary union could use now. The central bank governors from Germany and the Netherlands, for example, cannot do much against all of these arguments. They have been calling for an exit from the ultra-loose monetary policy for a long time, but they are in the minority.

Criticism of the policy of the US Federal Reserve

So there are many reasons why the majority of monetary watchdogs prefer to keep their feet still and save themselves over the summer. A change in monetary policy at the council meeting this week is not expected, not even with a hint that it might be imminent. Only the pace of bond purchases could perhaps be slowed down a bit. But that too is unsafe. How long the ECB can continue on its course, however, also depends on the world around it. In the USA, for example, where the inflation rate is now 4.5 percent and the economy because of the two trillion corona aid program of the Biden government is slowly starting to overheat , criticism of the Federal Reserve’s loose monetary policy is growing louder. Economists such as the former IMF chief economist Olivier Blanchard or the leading economic advisor of Allianz, Mohamed Aly El-Erian, fear that the corona crisis could have changed the structure of the economy. It is therefore not at all clear that inflation will recede again quickly. If the central banks act too late and then abruptly, this could lead to upheavals in the financial markets and a recession. The next few months are therefore likely to be uncomfortable for the European monetary authorities. And also for the people in the euro zone. Because one thing is clear: it will be even more expensive.

Accordingly, TPBank is one of two joint stock commercial banks selected to take on this responsibility. The account number 84123456789 means “Vietnam – Moving forward” of the Vaccine Fund for Disease Prevention and Control at TPBank, showing the determination of the Government and people to win the pandemic. Collectives and individuals at home and abroad can transfer donations to the account of the State Treasury opened at TPBank with the following information: 1. Account name: Vaccine Fund for COVID-19 Prevention and Control 2. Account number: – VND account: 84123456789 (Vietnam – Tien Len) – USD account: 84223456789 – EUR account: 84333456789 At the same time, when donating to the vaccine fund, TPBank customers do not need to spend time finding and entering the receiving account number like regular money transfers. The “Donate” feature with a prominent heart icon on the chest right on the main screen of the TPBank app has been automatically installed to the recipient account as the COVID-19 vaccine fund. Customers only need to select “Donate” as soon as they successfully log in to TPBank app, enter the amount, then enter the verification code to successfully transfer their contribution to the Vaccine Fund. With a deep awareness of the importance of vaccines and high responsibility to society, TPBank took advantage of a leading digital bank to quickly launch this feature to help customers support the vaccine fund most conveniently. Right after the launch of the “Donate” feature, the spirit of “Donation is to work together” to repel the pandemic was practically responded by leaders and employees of TPBank. Up to now, over 27 billion VND with about 4,000 donations to the Vaccine Fund have been transferred through TPBank system. Most recently, on May 26, TPBank also contributed 10 billion VND to the Vaccine Fund, supporting the Government in this fight against COVID. Representative of TPBank, General Director Nguyen Hung shared: “ The efforts of TPBank, the whole people together with the Government to make the plan of universalizing Vaccines to every home quickly come true so that normal life will soon return to everyone. “.

To respond well to this trend but still ensure system safety, the banking industry has made great efforts by applying a series of new technologies such as e-wallets, eKYC, multi-platform digital services, etc. Electronic Customer Identification (eKYC) The online transaction process cannot be perfect if the customer still needs to go to the transaction office to carry out the account opening procedure. Therefore, eKYC (Electronic Customer Identification) is considered a must-have piece in the digital banking picture. Pioneering this application of technology, with the new generation BIDV SmartBanking, customers can complete all registration steps at home, through BIDV’s eKYC system. Users only need to take a photo of their identification, a photo of their face, and the system will check the valid information and open an account for customers to use banking services immediately. BIDV representative – Ms. Nguyen Thi Quynh Giao – Deputy General Director in charge of Retail Banking said: eKYC is a new step in BIDV’s comprehensive digitalization strategy when investing in digital channels, digital processes as well as digital products. This development is also a testament to BIDV’s efforts to better serve customers and bring more convenient digital products. “. In just 2 months since its implementation, BIDV has recorded nearly 200,000 successful registrations via eKYC on SmartBanking. eKYC is an important step in the bank’s digitalization strategy. Cross-platform trading, following individual needs In the increasingly busy life cycle, problems such as remembering passwords, switching transaction devices, balancing revenues and expenditures, etc. also become a nuisance for many customers. Grasping that mindset, many banks are improving their services to offer effective support solutions. In the case of BIDV SmartBanking, this digital bank has expanded the application to include phones, computers, smart watches, smart keyboards, etc., helping users to make transactions anytime, anywhere. through personal devices and at the most convenient time and space. In particular, these devices use uniformly only 1 account name, 1 password for each user, minimizing inconvenience for customers. BIDV SmartBanking has also just launched a new function that allows customers to set up a revenue and expenditure plan (planning revenues, proportioning expenses for living, shopping, saving …) and closely reporting the implementation process. present. This function touches the practical needs of many young customers. Having an overview of expenses will help users monitor their personal finances, thereby balancing money sources, cutting unnecessary expenses, easily accumulating and responding to risks. risk in life. Currently, on mobile application stores, there are also some similar revenue and expenditure management support software, but most of you will have to enter information completely manually and pay to use it, not automatically and built-in on mobile devices. banking applications such as BIDV SmartBanking. Convenient banking applications such as BIDV SmartBanking allow unified login on all devices (Mobile, Laptop, PC, Apple Watch…). Electronic wallet According to a report by IDC, Vietnam has an e-wallet growth rate of 67% in the 2017-2022 period, ranking third in the Asia Pacific region, just behind China and South Korea. According to this report, the demand for e-wallets will continue to increase due to the impact of the Covid-19 epidemic along with the increasingly strong influence of the Millennials (those born after 1980 to early 2000) and GenZ (those born after 2000) (source). This demand poses a great challenge and is also a rare opportunity for financial institutions to race to break through the rankings. According to a share from BIDV, this banking giant is aiming to create a large-scale service ecosystem for BIDV SmartBanking users. Thanks to that, BIDV SmartBanking customers will be able to use all functions of e-wallets and banking services such as money transfer, savings, loan repayment… on the same application. To develop this ecosystem, BIDV has promoted links with financial institutions, signed cooperation agreements with more than 1,000 suppliers and 32/43 Fintech companies in Vietnam to provide more than 2,000 payment services on e-wallets. and continue to expand the ecosystem in the near future. Through the above examples, it can be seen that in the context of the pandemic, banks are actively turning ‘danger’ into ‘opportunity’, changing the form of product and service provision to catch up with the trend and dominate the market. New markets, new habits, new behaviors. This not only brings benefits to customers, but also promises to help Vietnam’s financial system move closer to global digital technology.

Wave of closures expected in Europe Thousands of bank branches before the end

As of: June 8th, 2021 8:58 am

For many European private banks, running a tightly knit network of branches is no longer worthwhile. According to a new study, almost half of the stores will close in the coming years. A study by the business consultancy PwC predicts a wave of branch closings by European banks. According to this, up to 40 percent of the branches could be on the verge of closure by 2023. This means that drastic cuts are imminent for employees and customers of the branches. Study author Andreas Pratz and his colleagues looked at around 50 private customer banks and banking groups with a total of 690 million customers as well as estimated private customer deposits and loan volumes of 18 trillion euros. Banks from 15 countries in Europe and, for comparison purposes, also in North America and Australia were included.

Too little income from the branches

The main reason for the expected closure measures is the poor profitability of the branches for the banks. According to the study, the average profit per customer in the past year 2020 dropped again by eight percent to 193 euros. There is also less and less business being done in the branches. For example, fewer and fewer bank customers are making international transactions, and the demand for consumer credit has also continued to decline. The income per customer is below average in branches in Germany, it is 172 euros. In contrast, a customer in Switzerland brought an average profit of 444 euros, in Austria slightly above average 208 euros. In Italy and Spain, too, the yields are significantly higher than in Germany. According to the study author Pratz, higher bank fees are charged there or salary accounts are better linked to other bank offers such as construction financing. According to Pratz, there are also major differences in Germany. The “associations”, ie the Volksbanks and the savings banks, achieved better earnings than the branches of private commercial banks.

Cancellation programs launched

Only a quarter of European commercial banks managed to increase their sales in the past year. This increases the cost pressure considerably and directs the bank managers’ attention to their own branch networks. Many of the big banks have already launched job cancellation programs in recent months and in some cases tightened them again, including Deutsche Bank and the French Société Générale. Commerzbank and Postbank had also announced drastic branch closings in the past few weeks. The study assumes that bank branches in Europe will shrink from just under 60,000 to just 36,000 in 2023. More and more new sales channels are taking the place of the branches: “Instead of luring as many customers as possible into the branches through the best locations, customer contacts will in future be gained through targeted online marketing”, according to the author of the study, Pratz.

Poland’s high inflation With price jumps from the pandemic

Status: 08.06.2021 8:12 a.m.

The Polish inflation rate is well above the German rate – now more than five percent. In many ways, this is a consequence of the pandemic, experts say. But when will the central bank react? From Martin Adam, ARD studio Warsaw The pandemic is not over yet when another topic is pushing the front pages of Polish newspapers. “Why so expensive?” Asks the “Gazeta Wyborcza”. The “Rzeczpospolita” replies: “We pay for growth with inflation.” In fact, what is happening in Poland is what financial experts in Germany are warning of: the inflation rate is rising – currently to a ten-year high of well over five percent, according to the standardized European calculation. That is one of the highest values ​​in the European Union. For comparison: In Germany, the inflation rate was 2.5 percent in May .

Devaluation clearly noticeable

The devaluation of the Polish zloty is clearly noticeable, explains financial market expert Pawel Majtkowski. “Compared to last year, wages have risen by ten percent, but the prices of fruit and vegetables by 20 percent. So we are already feeling the price increases,” he says. “In addition, there are higher production costs, transport costs and the costs of higher wages.” All of this is reflected in prices. Inflation is most evident in the case of fuels. According to the national statistics office, gasoline and diesel for private cars have become more than 30 percent more expensive within a month.

“Polish economy is doing well”

But don’t panic, it’s all normal and a consequence of the corona pandemic, explains economic advisor Lidia Adamska. “Inflation in Poland reflects processes that we see in the post-Covid landscape around the world. But the Polish economy is doing well,” she says. “The gross domestic product is growing, the employment and unemployment figures are also optimistic.” There are various factors that are currently weighing on the Polish currency, only some actually have to do with the corona pandemic: The low interest rates, which are supposed to stabilize the economy, make money cheap. It is available in large quantities, which always carries the risk of being devalued. After the rapid slump last year, crude oil prices are also picking up again, making gasoline and diesel more expensive. In addition, there are higher food prices because Polish agriculture has not recovered from the past two years of drought. A bad harvest means high prices. With restaurants and hotels that are slowly reopening in Poland, demand is also increasing.

Raising the minimum wage is having an effect

The political decision at the beginning of the year to increase the gross minimum wage to 18.30 zloty per hour, the equivalent of around 4.10 euros, also has an impact. This is supposed to distribute the Polish economic boom more fairly. However, the service industry in particular, which has been shaken by the corona lockdown, is passing the higher wage costs through to customers. The bottom line is that everything will be expensive. But it will certainly be countered soon, suspects the economics expert Ignacy Morawski. “In a sense, inflation is the price of low unemployment,” he says. “I suspect the central bank will soon raise interest rates to control inflation.” When exactly this will happen and how far inflation will rise, hardly anyone in Poland has yet wanted to make a forecast.

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Users are increasingly preferring digital banking and payment applications… Based on data from 2,000 top apps and datasets from Fintech, Game and E-Commerce applications, Adjust, a global app marketing analytics platform, has just released its annual report on app trends. mobile apps in 2021. In the context of complicated epidemic developments worldwide, the rate of users downloading and opening applications increased sharply compared to previous years and was higher than expected. The report highlights that mobile apps will continue to grow strongly in 2021. Installs are up 50% across all industries in 2020 and up 31% in the first quarter of 2021. Meanwhile, number Visits increased by 30% in 2020 and now have increased by 4.5%. USERS FAVOR TO FINTECH APP Analytics reports from trends in installs and sessions to time spent on apps and app re-installs… The numbers recorded in the past year show that fintech continues to “encroach” into the mobile segment. Many traditional banks have cooperated with fintechs and neobanks (new-style digital banks, no transaction offices, no branches, all operations take place in cyberspace) are increasingly widely accepted. cobble. The banking app recorded $3.6 billion in revenue. By mid-2020, digital banking accounted for 25% of all banking apps downloaded, up from just 1% in 2017. The data shows that each user on average installs about 2.5 financial apps. The level of global payments last year reached 1.390 billion USD and is expected to increase to 1.680 billion USD this year. The adoption rate of mobile payments has increased sharply globally, with the highest rate in China with more than 81%, followed by India (37.6%), Japan (25.3%) and Italy (21.1%)… From the fintech growth numbers, users are increasingly preferring payment applications and digital banking. Taken as a whole, fintech has the strongest increase in installs of all industries, growing 51% in 2020 compared to the previous year. In the first months of 2021 alone, the number of installs increased by 12% compared to the average of 2020. The number of sessions of fintech applications also skyrocketed in 2020, with 85% year-over-year. The number of sessions increased steadily throughout 2020, with the strongest increase in early October (22% higher than average) and late November (24% higher than average). The data also recorded a peak in mid-July, when 15% higher than the annual average. In 2021, up to the present time, the number of fintech application sessions is increasing by 35%. These growth numbers show that users are increasingly preferring payment applications and digital banking. SPEND A LOT OF TIME GAME AND UP ONLINE SHOPPING Along with fintech, the complicated development of the Covid-19 epidemic has partly reflected in the growth figures of the e-commerce and gaming industries. Games hit new milestones in 2020, especially in the hypercasual (lightweight, instant play and unlimited replay) segment, with installs up 43% versus 26% for games. other games (non-hypercasual games). The number of sessions for hypercasual games increased by 36%, while the number of sessions for non-hypercasual games increased by 27% in 2020. The mobile game market is valued at $165 billion by 2020. Asia remains a large market, accounting for $41 billion of the total market value. The number of mobile game players increased by 46% during the year, from 1.2 billion to 1.75 billion. Statistics show that mobile games are the main source of 51% of revenue and hypercasual games are predicted to reach $ 2.5 billion by 2021. The overall market is forecasted to reach nearly $220 billion by 2023, of which revenue from Google Play accounts for 19.6%, continuing to be higher than the App Store (13.2%). Although the number of installs of e-commerce applications increased slightly, only 6%, the number of sessions increased by 44%. This clearly reflects the fact that users interact and shop high with e-commerce applications. Last year was also considered a successful year for e-commerce with the number of transactions on the application increasing by 58%, in which the strongest increase was at the beginning of the year when the epidemic broke out. The survey showed that the number of goods purchased online has increased by 24%, while the quantity in stores has decreased by 7%. Research predicts that by the end of 2021, 17% of global transactions will be done online. The number of installs and sessions in early 2021 is also positive, up 11% and 14% respectively compared to the average of 2020. The number of visits increased the most in late February and early. March 2021, an increase of 23% over the same period last year and 76% compared to 2019. 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A wake-up call about SMALL governance Recently, on social networks in Vietnam, a computer screen shot of a famous artist’s NH account statement related to the incident has attracted a lot of public opinion. Although NH has admitted that its employees spread the word, this is a wake-up call for those working in the banking sector, as well as the leaders of these organizations. In the era of information technology, customer data security can be said to be the most important for banks. Previously, the prestige of the banks was in the solidity of the safes, which were dug deep in the tunnels, through many layers of thick steel doors, resistant to fire and explosion and even earthquakes. Today it is the NH’s security system. Because most assets and liabilities are stored in the form of numbers, lines of data. The disclosure of customer data is often considered an accident of the security system, due to unintentional human error, or due to an external attack. But security risks do not only come from information technology systems. There are three places where security risks arise, that is from a governance perspective in relation to processes, monitoring, information systems, and operations. The above incident shows an error in the operation of the staff, related to the management of the bank. Normally, when signing a work contract, in the contract terms, of course, there must be things that employees must not do, not to mention the business ethics of the industry. And so this is not entirely the fault of the staff, NH is also responsible for regular training, as well as supervision. The consequences of customer data being disclosed are serious on several levels. For example, the bank must be responsible for the damages incurred because the customer account is attacked individually, or the entire information system of the bank is the prey of hackers. Equally important damage is the reputation of NH. As a customer, no one wants to send money or do business with NH but “house” is loose. The more important partners are not. NH is also confused Customer data in banks is the survival of banks. Security is the new generation of “safes”, and the prestige lies in the system, as well as the consciousness and skills of the key holders. In the matter of customer data, banks also have a big confusion between needing a lot of customer data (KYC), security and customer privacy (privacy). Banks themselves also need a lot of KYC, not only to manage risks, but also to develop services to provide to customers, especially cross-selling and value-added services. State regulatory agencies also require banks to perform KYC, mainly for the purpose of anti-money laundering and illegal activities. But when customer data increases, integration from many sources, many systems with heterogeneous standards or formats, is a huge challenge for NH’s information system. Because the more sources, the more “entrances” there are more exposed points, many places can be hacked. The collection of customer data is also met with a certain reaction from them because of privacy. In many developed countries, such as Europe with the General Data Protection Regulation 2016/679 aka GDPR, there is a huge shift from service providers in general and the sector. NH in particular. There are data, currently NH wants to collect the consent of customers. In short, customer data in banks is the survival of banks. The security is a new generation “safe” form, and the prestige lies in the system, as well as the consciousness and skills of the key holders. Domestic banks need to pay attention In terms of customer data security risks, domestic banks compete with each other in technology and there is almost no big difference between banks in the same group, for example, large banks have enough resources to Get the best system. Even later banks have an advantage because technology costs decrease over time. The problem for data security, therefore, mainly lies in the management system of the bank, as well as in the daily operation. In administration, besides processes and monitoring systems, leaders’ awareness of security issues is extremely important. Not only investing properly for the information technology system, leaders must always closely monitor this issue, considering this as their important task. Therefore, there is a need for consistent direction and coordination between the banks’ departments, considering this as the core activity of the bank. In the course of daily operations, it is the awareness and skills of the employees. Periodic and continuous training is absolutely necessary for all employees, especially functions and positions of authority. If the employee is aware of the seriousness of the disclosure of the customer’s account, no employee would dare to act so impulsively, not to mention, besides internal handling, it may also be involved in legal regulations .

“After information was spread online about the image of artist Hoai Linh’s account statement, the Bank checked and verified the incident and discovered that an employee intentionally copied the screen and leaked it. Currently, MB has suspended this person’s work and will take disciplinary action at the highest level; at the same time, transfer the entire case file to the investigating agency for handling in accordance with the law.” , the statement said. MB Bank also confirmed that the disclosure of information on the air was caused by a breakdown in the bank’s information technology system or a hacker attack. Because this system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with hundreds of millions of safe transactions. The MB representative also said that in the spirit of respecting the law, the Bank is committed to taking strict measures to ensure absolute compliance with the provisions of the law on protecting customer information throughout the system. The Bank will take appropriate disciplinary measures for all individuals who disclose/leave information, do not comply with professional ethics regulations, do not comply with legal regulations, industry and MB. It is known that a week ago, on social networks, a “controversial” case appeared, artist Hoai Linh was more than 6 months late paying over 14 billion VND in relief money for flood victims in the Central region, transferred by benefactors. come. Just a few days later, the online community released photos of dozens of statements showing the transactions of comedian Hoai Linh’s account opened at MB bank. Immediately, a wave of protests against MB’s disclosure/passage of confidential customer account information. After about 3 days of actively researching, until today, May 27, MB has an official feedback.

After the investigation process, the Military Bank (MB) said that MB discovered an individual working at this bank to leak customer information, this individual had seriously violated the regulations of the Bank. Bank. MB’s announcement emphasized that, in the spirit of respecting the law, the Bank is committed to taking strict measures to ensure absolute compliance with the provisions of the law on protecting customer information. MB transferred the profile of the person who leaked Hoai Linh’s account information to the investigating agency At the same time, there will be appropriate disciplinary measures for individuals who disclose/leave information, fail to comply with professional ethics regulations, and do not comply with Laws and regulations of the bank. Currently, MB has suspended the work of the above violator and will organize disciplinary action with the highest form of the violator, and at the same time, the bank has transferred the file to the investigation agency for handling. MB confirmed that the above information disclosure was not caused by a breakdown in the bank’s information technology system or a hacker attack. Because the bank’s IT system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with 100 million safe transactions. For example, for the APP MB product, the bank has brought financial experiences beyond expectations to customers. MB’s representative also emphasized that transaction information at MB is protected by 3 layers of fences, including: First, the eMB application protection system with the feature of refusing to install with unsafe devices; anti-decompile and lock protect sensitive data; The second layer of encryption protects when the application transmits information to the service server at the bank, ensuring data integrity and inviolability; The final barrier of protection is built on each feature provided by Ebank (when applying Smart eKYC technology to identify customers, additional AI is used for face and voice authentication; using Generation Digital OTP. 3.0 with the addition of Dynamic Key security technology being used by the Singapore government…). Along with that, “In order not to let similar incidents happen again, in order to secure information and transaction data of customers, MB has also reviewed the working processes, strictly decentralized and tightened more work discipline” – MB representative confirmed.

In the spirit of respecting the law, the Bank commits to take strict measures to ensure absolute compliance with the provisions of the law on protecting customer information; take appropriate disciplinary measures for individuals who disclose/leave information, do not comply with professional ethics regulations, do not comply with the provisions of law, regulations of the bank. Specifically, the Bank has suspended the work of individual violators and will organize disciplinary action with the highest form of violators, and at the same time transfer the file to the investigating agency for handling. Information to the press, MB confirmed that the disclosure of information was not due to a breakdown in the bank’s information technology (IT) system or a hacker attack. The bank’s IT system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with 100 million safe transactions. For example, for the APP MB product, the bank has brought financial experiences beyond expectations to customers. Transaction information is protected by 3 layers of fences including: The first is the eMB application protection system with the feature of refusing to install with unsafe devices; anti-decompile and lock protect sensitive data; The second layer of encryption protects when the application transmits information to the service server at the bank, ensuring data integrity and inviolability; The final barrier of protection is built on each feature provided by Ebank (when applying Smart eKYC technology to identify customers, additional AI is used for face and voice authentication; using Generation Digital OTP. 3.0 with the addition of Dynamic Key security technology being used by the Singapore government…). “In order not to let similar incidents happen again, in order to secure the information and transaction data of our customers, we have also reviewed the working processes, strictly decentralized and tightened the working discipline. more work”- MB emphasized.

Regarding this incident, MB Bank said that after receiving information from public opinion that the artist Hoai Linh’s account was spread on the social network that was supposed to be opened at MB, the Bank checked and verify the facts. And MB has discovered an individual working at the Bank to leak customer information. This individual has seriously violated the Bank’s regulations. In the spirit of respecting the law, MB is committed to taking strict measures to ensure absolute compliance with the provisions of the law on protecting customer information. The Bank will take appropriate disciplinary measures for individuals who disclose/leave information, fail to comply with professional ethics regulations, and do not comply with laws and regulations of the bank. Regarding MB’s handling method for violators, the Bank has suspended the violators’ work and will organize disciplinary action with the highest form of violators, and the bank has transferred the files to the violators. to the investigating agency for handling. In addition, the Bank confirmed that the above information disclosure was not caused by a breakdown in the bank’s information technology system or a hacker attack. The bank’s IT system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with 100 million safe transactions. For example, for the App MB product, transaction information is protected by three layers of fences, including: The first is the eMB application protection system with the feature of refusing to install with unsafe devices; anti-decompile and lock protect sensitive data; the second is an encryption layer that protects when the application transmits information to the service server at the bank, ensuring data integrity and inviolability; third, the ultimate protective barrier is built on each feature that Ebank offers… In order not to let similar incidents happen again, in order to secure information and transaction data of customers, MB’s representative said that the Bank has reviewed the working processes, strictly decentralized and tightened stricter work discipline.

MB confirmed that this information disclosure was not caused by a breakdown in the bank’s IT system or a hacker attack The Bank’s handling method for violators: The Bank has suspended the violator’s work and will organize disciplinary action with the highest form of violators, and the bank has transferred the file to to the investigating agency for handling. MB confirmed that the above information disclosure was not caused by a breakdown in the bank’s information technology system or a hacker attack. The bank’s IT system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with 100 million safe transactions. For example, for the APP MB product, the bank has brought financial experiences beyond expectations to customers. Transaction information is protected by 3 layers of fences including: First, the eMB application protection system with the feature of refusing to install with unsafe devices; anti-decompile and lock protect sensitive data; The second layer of encryption protects when the application transmits information to the service server at the bank, ensuring data integrity and inviolability; The final barrier of protection is built on each feature provided by Ebank (when applying Smart eKYC technology to identify customers, additional AI is used for face and voice authentication; using Generation Digital OTP. 3.0 with the addition of Dynamic Key security technology being used by the Singapore government…). “In order not to let similar incidents happen again, in order to secure the information and transaction data of our customers, we have also reviewed the working processes, strictly decentralized, and tightened the working discipline. more work” – MB representative confirmed.

The suspected bank statement of comedian Hoai Linh was released. Immediately after receiving the feedback, MB checked and verified the above incident, discovered that an individual working at the bank had leaked customer information, this individual had seriously violated regulations. of the bank. “In the spirit of respecting the law, the Bank is committed to taking strict measures to ensure absolute compliance with the provisions of the law on protecting customer information. The Bank will take appropriate disciplinary measures for individuals who disclose/leave information, do not comply with professional ethics regulations, do not comply with the Laws and regulations of the bank,” the notice stated. Before the above incident, the bank suspended the work of the violating individual and will organize disciplinary action with the highest form, at the same time, the bank has transferred the file to the investigation agency for handling. In addition, the bank confirmed that the above information disclosure was not caused by a breakdown in the bank’s information technology system or a hacker attack. The bank’s IT system is built on the most advanced technology and security platforms in the world today, the bank’s online transaction rate reaches 90% with 100 million safe transactions. According to the bank, for the APP MB product, the bank has brought financial experiences beyond expectations to customers. Transaction information is protected by 3 layers of fences including: The first is the eMB application protection system with the feature of refusing to install with unsafe devices; Anti-decompile code and locking protect sensitive data. The second layer of encryption protects when the application transmits information to the service server at the bank, ensuring data integrity and inviolability; The final barrier of protection is built on each feature provided by Ebank (when applying Smart eKYC technology to identify customers, additional AI is used for face and voice authentication; using Generation Digital OTP. 3.0 with the addition of Dynamic Key security technology being used by the Singapore government…). According to MB, in order not to let similar incidents happen again, and to keep customers’ information and transaction data secure, the bank has also reviewed the working processes, strictly decentralized and stricter work discipline.

The nature of the job of a bank employee is extremely busy and often has to come home late, but Phuong Thuy (29 years old, Quang Ninh) always spends time in the kitchen. With 9X, family meals are very important, helping to strengthen the relationship between husband and wife and family. Phuong Thuy Recently, Phuong Thuy suggested how to prepare 5 delicious and attractive dishes that you can make for the weekend to enjoy. After finishing the dishes, she will freeze them, come home late from work or on weekends, she will bring these attractive dishes to fry or put them in an air fryer that is still very attractive. The dishes after being prepared are frozen by Phuong Thuy so that they only need to be processed at the weekend Here are 5 delicious dishes suggested by Phuong Thuy, you can refer to: BOOKED MEAT Ingredients (10-12 skewers): – Pork shoulder: 500g – Dried onion: 1 large bulb – Dried garlic: 1 bulb – Lemongrass: 1 large tuber – Seasoning seeds, fish sauce, main noodles, honey, water: 2 teaspoons (can add a little condensed milk). – Cashew oil, soy sauce: 2 tbsp. – Cooking oil: 2 tablespoons – White sesame Making: – The shoulder meat has both lean and fat cut into thin slices to eat (choose the shoulder part that will not be dry, soft and the fat will have a very delicious crunch). – Dried onions, dried garlic, and lemongrass: minced or minced. – Put the whole onion, garlic, ground lemongrass and all the spices above into the meat and mix well and put it in the refrigerator for 2 hours or overnight, the meat will absorb better, then skewer it on a stick (the meat skewers have a high degree of quality). thick enough to cook faster and more evenly). – If you make meat to eat during the week like me, you don’t need to let the meat soak, but skewer it right on a stick and then put it in the freezer box. – When eating, defrost for about 1 hour or go to work in the morning, put it in the refrigerator and bake it in an oil-free fryer or put a little oil in the pan. DON’T MISS THE LOT Ingredients (12-15 pcs): – 200g minced beef – 100g of ground pork (ground a lot of fat to prevent the patties from drying out). – Fungus – Piper lolot – Seasoning seeds, main noodles, ground pepper, oyster sauce, fish sauce, soy sauce: about 2 teaspoons each. Making: – Wash the bay leaves, keep the big leaves to roll the rolls, the small leaves are chopped and mixed to make the filling. Wood ear is also minced. – Mix the minced beef and pork with all the remaining ingredients. – Spread out the bay leaves (greener on the lower side), scoop out a sufficient amount of meat to roll the rolls. – Put the sausage in a box, store it in the freezer. When eating, it is not necessary to defrost it first, put the patties in the oil pan as soon as the oil is cool and fry until evenly cooked (putting the rolls in hot oil is easy to splash a lot of oil, causing burns). – You can spray a layer of cooking oil around the rolls and bake in an oil-free fryer. Frying Snails OR Steaming Banana Leaves Resources: – Ground shoulder meat: 200g – Raw spring rolls: 150g – Stuffed snail or snail intestine: 100g – Tapioca or cornstarch: 1 tablespoon – Minced onion, garlic: 1 bulb – Minced ginger: 1/2 tbsp – Seasoning seeds, main noodles, ground pepper, oyster sauce: 1/2 tablespoon – Minced chili (if you can eat spicy) – Minced guise leaves and perilla Making: – Preliminary processing of snails: the intestines of purchased snails are thoroughly cleaned with salt and rinsed with clean water (about 3 times) to remove the oil. Then wash 2 more times with vinegar or lemon, rinse with clean water until the snail is completely clean. Mince the snail part or grind it (so that the sausage still has the crispiness of the snail). – Mix all the snails and the above prepared ingredients well. – Then use a spoon to scoop each part evenly, round and flatten it into the box. If you want to layer more layers, you can line them with banana leaves or food film and add the next layer. When eating defrost fry or put in an oil-free fryer. – Grilled snails with banana leaves in an oil-free fryer: Withered banana leaves (microwave to reduce wilting leaves will be easier), use a deep rectangular box of moderate size to put banana leaves in, spread cooking oil on the leaves, then put snail rolls in and wrap tightly. again. (You can make small pieces of banana leaf spring rolls or as big as you like). Depending on how big or small the rolls are, set the heat to 160-200 degrees and bake until they are cooked and fragrant. SHRIMP SHRIMP with lemongrass Can be round like snail ball without wrapping lemongrass (should mix a little minced lemongrass for fragrance). This dish can be fried or baked in an air fryer. Resources: – Ground shoulder meat: 150g – Raw spring rolls: 200 grams (double or 3 times the amount of shrimp) – Shrimp pureed or chopped: 100g – Tapioca or cornstarch: 1 tablespoon – Minced onion, garlic: 1 bulb – Seasoning seeds, main noodles, oyster sauce, ground pepper: 1/2 tablespoon – Cashew color: 1-2 tablespoons – Lemongrass: 8-10 bulbs Making: – Put all the ground meat, raw ham, minced shrimp and other ingredients (except lemongrass) and mix well, using gloves to make the meat even and flexible. – Lemongrass tubers remove the old outer skin, cut the tail for the tubers to be equal. – Wearing gloves, take 1 part of the mixture of shrimp and meat, roll it into a ball, flatten it in the palm of your hand, put lemongrass in the middle, and then cup your hands to shape the tree. – You can fry, bake immediately or apply a layer of cooking oil to the box, put the rolls in and separate each one and store it in the freezer. You can fry or put it in an air fryer and bake at 180 degrees until the pan is golden brown (should be lined with parchment paper before adding the rolls to avoid sticking). SHRIMP SHRIMP MEAT WITH SHRIMP Ingredients (15-18 pies): – Minced lean meat: 300g – Shrimp peeled and minced: 200 grams or seafood as you like (surface, crab, crab) – Wood ear, shiitake mushrooms: as you like – Shredded carrots: 1 small tuber – Noodles soaked in warm water: optional – Non-aromatic dried onion (if any) – Finely chopped green onions and coriander. – Chicken eggs: 1 egg – Main noodles, soft seeds: 2 teaspoons – Ground pepper – Rice paper rolls and spring rolls (you can use Ha Tinh ram shells, the cake will be more crispy). Making: – Add the whole shrimp, meat and spices and mix well. – Round spring rolls cut in half. – For each shell of regular spring rolls, add 1 piece of spring rolls, then add a sufficient amount of filling and roll spring rolls. Choose flexible spring rolls, do not need to absorb water into the shell before rolling (the water absorption of spring rolls will easily stick together when stored in the freezer). The spring rolls will help to make the fried spring rolls more crispy and also help the spring rolls to be drier after rolling. – Rolled spring rolls, if not fried right away, can be put in a box and stored in the freezer. When eating, do not need to defrost, but add spring rolls as soon as the oil is cool and at medium heat until the spring rolls are golden brown.

Measure body temperature for customers at TPBank on Ly Thuong Kiet Street. In recent days, just walking to any transaction office of banks in Hanoi, customers are measured body temperature by bank security staff and asked to wear masks and disinfect hands. At the transaction areas, not only the glass booths, all bank staff wear masks or hats with diaphragms. In particular, money collected from customers must be carefully disinfected before moving to another place. Employees wear gloves before dealing with customers to ensure the prevention of epidemics for both customers and employees when transacting. General Director of Tien Phong Commercial Joint Stock Bank (TPBank) Nguyen Hung affirmed that the bank strictly implements regulations on epidemic prevention and control, both to protect the health of bank employees and to contribute to in the fight against the Covid-19 epidemic. Therefore, at the transaction points, as well as the working rooms of the bank, they are fully equipped with temperature measurement equipment, masks as well as hand sanitizer. TPBank employees, even those who do not have to deal directly with customers, are required to wear masks. Other banks such as Orient Commercial Joint Stock Bank (OCB), Southeast Asia Commercial Joint Stock Bank (SeABank), An Binh Commercial Joint Stock Bank (ABBANK), etc. “turn on” the Covid-19 prevention and control mode to the highest level at all transaction points. The staff at OCB on Lang Ha Street all wear masks to prevent the epidemic. In addition to taking serious prevention and control measures, banks also continuously send warnings by text message, email, as well as post notices at the door of transaction points to encourage customers to make online transactions. at home through banking applications on smartphones and internet banking on computers. According to Official Dispatch No. 02/CD-NHNN of the State Bank (March 11, 2020) on strengthening the prevention and control of the Covid-19 epidemic in the new situation, the State Bank requires credit institutions, Foreign bank branches carry out regular disinfection, disinfection and cleaning at cash transaction areas, vaults and automatic teller machines (ATMs). Take measures to clean and disinfect cash (bundles, bags) collected before being stored at the end of the day or before being returned to the State Bank. In case the amount of cash in stock is high, branches of credit institutions after disinfecting may keep them in the warehouse for a certain period of time before disbursing money to customers.

Illustration. According to Hai Duong Police, recently, many mobile subscribers have received messages impersonating financial institutions and banks, sending fake and fraudulent content in order to appropriate people’s money. Through verification and evaluation, the authorities found that these fake messages did not come from the systems of financial institutions, banks and telecommunications businesses, but were distributed through transmitters. fake mobile signal. These are devices of foreign origin, which are illegally traded and used by objects for the purpose of carrying out attacks to spread spam messages to deceive users, especially users in remote areas. urban area. Fraudsters often use fake broadcast devices to send spam messages directly to the phone without going through the mobile telecommunications network. These messages are sent by objects that change source information in order to create trust and deceive users. The message content is often advertising, instructions or contains links to fake websites like official websites of financial institutions, banks to lure and steal users’ information such as accounts, password, OTP code. Many users do not recognize the fake website, so they provide personal information to access the bank account such as entering the account name and password. After the user provides the information, the fake website will redirect to another website or notify the user to wait. The subject uses the user’s personal information to log in to the official website of financial institutions and banks to get the OTP authentication code (if necessary).

Mr. Nguyen Duc Huy – Deputy Director of the MB Banking Division represented the award. (Photo: Vietnam +) After two consecutive years (2019, 2020) enrolled with Sao Khue award for 2 digital banking products: App MBBank and Biz MBBank, Military Commercial Joint Stock Bank (MB) has just received the Sao Khue award. 2021 for an online identity solution (eKYC). In 2 pre-qualification rounds and direct presentations, MB’s eKYC solution was highly voted by the Board for optimizing customer experience on the digital platform. Accordingly, customers can use the eKYC feature above App MBBank to open and identify a 100% bank account online without going to the counter. Immediately after completing the identification procedure, customers can immediately use services such as: transfer within and outside the system, bill payment (electricity, water, air tickets), online savings, online loans. … MB is one of the pioneers in implementing eKYC in Vietnam, and the bank with the highest eKYC success rate, about 80% of the banks applying this solution in Vietnam. Up to now, about 1.8 million MB customers have successfully opened bank accounts with eKYC, accounting for 70% of the total number of new customers since the time MB officially applied eKYC. Especially, eKYC solution MB is the pioneer and only solution in the Vietnamese market providing a full range of technology Face Recognition and voice. With Machine Learning technology, customer data can be identified and extracted through photos. In addition, MB’s eKYC is capable of recognizing and verifying faces / voices according to information on each customer’s personal papers, recording the information. biometrics corresponding to the user’s checking account. With the completion of the technology system, operating procedures, … to deploy eKYC on Mobile Banking application, MB allows customers to identify online through 3 basic steps: Turn around according to instructions, read random PIN code, take pictures with identification and check life by random method. Estimated total time with each process identifier is about 45 seconds. Notably, MB’s eKYC solution is deployed on Dynamic Key and Digital OTP platforms, ensuring customer information security. In 2021, MB determined to continue focusing on products with high technology content. The fact that MB won the “Sao Khue” award for the 3rd consecutive year shows the bank’s strong digital transformation spirit as well as the bank’s high determination in implementing the 2021 motto “Accelerating numbers; retail breakout; safe-efficient, ”continues the vision“ MB is the most convenient bank, ”making MB become“ No. 1 in digital banking, five in the top 3 retail banks in Vietnam ”./.

Representative of Agribank received the Sao Khue Award 2021-Photo: Agribank Notably, this is the 6th consecutive year that Agribank has excellent software / system awarded Sao Khue award in this field. Agribank Realtime Payments Technology – Real-time low-value payment product with the function of processing low-value retail payment transactions instantly (real-time) or near-time (near – realtime) of the day or batch processing at a certain time after that, at the same time supporting many forms of payment of many different types of services. Agribank Realtime Payments is using advanced, stable security equipment capable of handling large amounts of transactions, top loading, stability, high availability, and ensuring the processing time of incoming payment transactions. fastest in the banking system. Agribank Realtime Payments has main features such as: Processing payment transactions (single, batch), processing order of checking, declaring, managing, looking up customer identification information, managing limits, handling comparison reason. All payment orders are processed automatically, accurately, responding to the results immediately to the issuing bank, thus increasing processing efficiency, releasing orders quickly, meeting the payment needs of real-time customers. In addition to the function of providing payment services to customers and payment intermediaries, Agribank Realtime Payments can also connect to government agencies and public service providers to provide collection / collection services. bank payments, social subsidies, fixed payments such as electricity, water, postal services. Deploying Agribank Realtime Payments system, in addition to developing retail payment systems and services (automatic electronic clearing system for retail payment transactions, a low-value interbank payment channel to help Agribank handle interbank payments quickly), in addition, it also increases the ability to respond strongly and expand diversified payment services to customers of Agribank. According to statistics, from May starting to deploy the system until the end of December 2020, the Agribank Realtime Payments system has processed a total transaction value of up to VND 6,800 billion and has more than 1.2 million customers using the service. .

Ms. Tuong Nguyen – Director of the Center for VIB Card Operations and Strategy received the honor trophy of the 2021 Leading Bank in Innovation and Creativity from the representative of Mastercard. Online Plus 2in1 is a card that integrates both credit cards and international payment cards on one card with super preferential treatment for online transactions and Grab app transactions up to 43 million VND / year. The card is designed for all types of customers regardless of credit history or not. VIB Online Plus 2in1 integrates 2 different card numbers for credit cards and international payment cards in one card, convenient for storage and payment. All transactions only need one card, one touch, one click. At the same time, the card can automatically connect to the system of major online shopping partners like Grab to earn points for all cardholders’ consumption with 20 times more points than normal Grab transactions. . Customers will have an Online Plus 2in1 card to use after only 30 minutes to register completely online, even on weekends with a “three no” experience: no need to go to the transaction counter, no need to prove income and no Have to wait to use the card. Anyone can be the owner of VIB Online Plus 2in1 Just be 18 years old, users can immediately own an Online Plus 2in1 card and enjoy up to 43 million VND incentives when spending online and at Grab app without proof of income, no credit history. use … For customers who are eligible for credit, customers can immediately use the features of both credit cards and payment cards. Payment incentives such as points, discounts, and refunds will then be activated immediately. Cardholders can also make free withdrawals at all ATMs nationwide. For customers who are not eligible for the credit, they can open an Online Plus 2in1 card to use the features of the debit card first and foremost, with similar offers. After a period of using and spending the card, VIB will automatically increase the credit limit for cardholders when they are eligible for credit so that they can use both credit and payment features. Encourage customers to spend via card instead of cash In addition to the promotion of tens of million VND for Grab services, Online Plus 2in1 card is also the starting point of a series of attractive incentives for cardholders, including 20 times multiplier for all Grab spending, 100% refund. Annual fee, 100% refund of the first transaction on Grab app, international roaming data gift, mobile phone insurance gift and e-commerce shopping insurance with credit card. With a debit card, Online Plus 2in1 cardholders are free for card issuance, first year card transaction fees, first year overseas foreign currency transaction fees and a comprehensive insurance package including cardholder identity insurance, online shopping insurance and service insurance via ATM. VIB has a comprehensive consumer ecosystem, combining 0% discount, cashback and installment offers with leading partners to bring incentives for all of customers’ common expenses.

Agribank Realtime Payments System – Agribank’s real-time low-value payment system won the Sao Khue Award 2021 for Outstanding IT System in the banking sector. Sao Khue Program is the most reliable and reputable professional assessment activity in the software and IT service industry in Vietnam. The program voted and recognized the top excellent and reputable products and services of the software industry and information technology services (IT) of Vietnam by the Vietnam Software and IT Services Association ( VINASA) held since 2003. Products and services awarded Sao Khue award with outstanding quality and efficiency are always trusted, selected by customers, creating a competitive advantage in the market. Agribank Realtime Payments Technology – Real-time low-value payment product with the function of processing low-value retail payment transactions instantly (real-time) or near-time (near – realtime) of the day or batch processing at a certain time thereafter, and support many forms of payment of many different types of services. Agribank Realtime Payments uses advanced, stable security equipment capable of handling large amounts of transactions, top loading, stability, high availability, and ensuring the processing time of incoming payment transactions. fastest in the banking system. Agribank Realtime Payments has main features such as: processing payment transactions (application, batch), processing orders, declaring, managing, looking up customer identification information, managing limits, handling comparison reason. All payment orders are processed automatically, accurately, responding to the results immediately to the issuing bank, thus increasing processing efficiency, releasing orders quickly, meeting the payment needs of real-time customers. In addition to the function of providing payment services to customers and payment intermediaries, Agribank Realtime Payments can also connect to government agencies and public service providers to provide collection / collection services. bank payments, social subsidies, fixed payments such as electricity, water, postal services. Deploying Agribank Realtime Payments system, in addition to developing retail payment systems and services (automatic electronic clearing system for retail payment transactions, a low-value interbank payment channel to help Agribank handle interbank payments quickly), in addition, it also increases the ability to respond strongly and expand diversified payment services to customers of Agribank. From May, starting to deploy the system to the end of December 2020, Agribank Realtime Payments system has processed a total transaction value of up to VND 6,800 billion and has more than 1.2 million customers using the service. Sao Khue Award 2021 once again recognizes and affirms Agribank’s efforts as a leading bank, a pioneer in creating and deploying excellent digital solutions that provide value to customers and add value. VND, contributing to the implementation of the Government’s Cashless Payment Scheme, jointly implementing the digital transformation, creating a digital life, making digital technology a new driving force for socio-economic development. country.

Deutsche Bank, which had been plagued by scandals, falling revenues and high risks in previous years, made strong profits again at the start of the current year. Bubbling income in investment banking and a sharp decline in risk provisioning have brought the bank a surplus of 908 million euros – after a loss of 43 million in the previous year. Industry observers had expected a significant increase, but the actual numbers far exceeded expectations. The main driver was business in the capital markets, investment banking, where Deutsche Bank is one of the most important bond and currency traders in the world. Income in this area rose by a third to 2.5 billion euros. The bank was also able to score in the consulting and IPO business. With a pre-tax profit of 1.5 billion euros, more than twice as much as in the previous year, investment banking once again proved to be by far the bank’s most profitable line of business.

Aimed at eight percent return

At the same time, the group benefited from government aid for the economy. As a result, there were significantly fewer bankruptcies in the first quarter than feared, so that the bank was able to reduce its risk provision for bad loans to 69 million euros, after 506 million in the first quarter of the previous year. Overall, the money house has succeeded in increasing income while at the same time costs have continued to fall. “These results reinforce our expectation that we will achieve our goals for 2022,” said bank chief Christian Sewing. The aim is to increase the return on equity after taxes to eight percent. With 7.4 percent in the first quarter, it has come very close.

Confidence despite ongoing pressures

Inspired by the good numbers, Sewing was more confident in the morning for the year as a whole. “Not only can we look back on an excellent quarter, the outlook is also optimistic,” he wrote in a letter to the group’s almost 85,000 employees. The consequences of the low interest rates gradually had less of an impact on income in the retail and corporate banking business. At the same time, there are many indications that a considerable part of the income growth in the investment bank will prove to be sustainable. At the same time, Sewing also promised lower risk provisions for bad loans for the year as a whole. The bank continues to be burdened by the bad bank, which it calls the “unit for releasing capital”. There was a loss of 410 million in the first quarter. Although this is less than in the previous year, there are still loans at risk of default with a volume of 34 billion euros. In the private and corporate customer business, it is also struggling, like its competitors, with the low interest rates in the euro area.

With the support of Mastercard’s fast and secure global network, including the Mastercard Processing platform that allows instant card issuance, the digital priority program offers customers the convenience of registration. online, quick access to start buying, and flexibility and peace of mind when shopping. The program also allows consumers to choose to make payments via digital cards or deduct money directly from their bank accounts using smartphones, smart watches or other digital devices. The program also offers new ways to accept payments, such as scanning Mastercard’s QR code on the card. Accordingly, the consumer’s payment card is placed with a QR code, allowing the sender to scan and transfer money securely and conveniently to the selected account. As consumers are rapidly transitioning to the long-term ‘digital default’ mindset, Mastercard research shows that 30% of people in Australia, 49% in India, 55% in China and 34 % in Japan plan to shop more online. The majority of people – 71% in Australia, 77% in India, 73% in China and 62% in Japan – believe that the switch to contactless payments will become commonplace. With the increasing demand for digital experiences, Mastercard is helping customers innovate faster through a network of partners that help customers step by step in their digital journey – from shopping, use to management. financial management. Mr. Sandeep Malhotra, Executive Vice President of Mastercard, in charge of product and innovation, Asia Pacific, said: For many years, Mastercard has led the trend of comprehensive digital commerce development by ways to provide a seamless and secure payment experience that makes it convenient for billions of people around the world to shop and manage their finances, anytime, anywhere. Along with the strengths of Mastercard’s partners, the digital prioritization program enables convenient, fast, transparent payments and maximizes customer choice, from digital cards in the wallet. electronics, QR codes on cards, to Pay by Account solutions that allow consumers to pay with a bank card through a financial service provider’s application. In addition, sellers benefit with access to a broader customer base and faster access to available financial resources. Mastercard’s promotion of the Asia-Pacific digital prioritization continues the program’s expansion in North America, in order to bring unique values ​​to cardholders and account holders. with market-leading banking and payment experiences in today’s rapidly growing digital economy.

Many banks are aiming to build digital banking Many opinions suggest that the institution for the digital transformation of the banking sector basically meets the development of society and the trend of not using cash. “However, the current institutional reforms sometimes still follow the market trend in the short term because it focuses more on the payment segment. Meanwhile, in response to the long-term development of the banking and financial technology industries, there is a lack of sandboxing mechanisms to help the implementation of new technologies gain support. and legal framework from the beginning ”, said Mr. Nguyen Hung, General Director of TPBank. Many regulations need to be further improved Banks also said that the legal framework and policy should continue to be completed, in which, the prerequisite is to speed up the process of building and developing the national database system on personal identification. and at the same time allow sharing, open connection with service industries such as banking, telecommunications, insurance … “Despite applying modern technologies, Vietinbank’s solutions cannot guarantee 100% accuracy that the identity documents that customers provide online are real, so all banks are looking forward to it. the national residential data system for the most accurate authentication, ”shared Deputy General Director of Vietinbank Tran Cong Quynh Lan. Representatives of banks also asked the authorities to issue a draft of agent banking to allow banks to develop service points (when banks are not allowed to open many branches / transaction offices. ). At the same time, it is necessary to speed up the development of regulations on user data protection, digital identity, and building an eKYC alliance. Complete regulations on transaction confidentiality, information security, detailed regulations on electronic signatures, electronic certificates, electronic transactions in accordance with international practices … A very important content is the permission to deploy the Sandbox mechanism – policy testing mechanism applicable to the application of new technologies and new business models in Vietnam. Allowing banks in the digital transformation process to have certain exceptions in meeting safety and efficiency ratios according to the State Bank’s regulations will help the bank boldly research and test new things. According to Mr. Duong Trong Chu, Director of Digital Banking Division of Lien Viet Post Bank, compared to some countries in the region, Vietnam’s digital conversion speed is relatively fast, but Vietnam is not yet a typical example of a country with the fastest speed of digital conversion in the world. Vietnam has a young, flexible and easy to accept the digital transformation model, but we face certain barriers. First, it must be mentioned that the Vietnamese people’s habit of using cash is too great. Second, Vietnamese people tend to trust physical transaction points rather than a digital bank model without branches / transaction offices. Third, the policy has almost no compulsory regulations for digital transformation, just stop at encouraging. Vietnam is an eager market to learn but takes a lot of time to implement because the legal corridor is slower than the development of business models. International experience shows that major cyber attacks are a top concern in the short term, and organizations face important trade-offs in improving their endurance and resilience. school network. According to a survey by Oliver Wyman, cyber attacks are rated as the No. 1 global risk by business leaders in developed economies as the No. 1 global risk in implementing business operations. Mr. Nguyen Xuan Nam, Strategic Director of Viettel Cyber ​​Security Company, affirmed that technology issues related to bank number conversion are now relatively safe, even able to catch up with the technology. Around the world, of course, there is still a need for improvement for the better, but people should not be too worried. For example, the current mobile banking applications are all applying new technologies to prevent exploitation of source code and are not allowed to be installed on unsecured phones. However, according to Mr. Nam, a problem posed is that the legal corridor related to user data is not very strict, such as regulations on information disclosure, personal data theft, as recently. There have been a number of cases of using data without the subject’s permission to register for credit cards or loans … Mr. Nam personally said that having opened a card at a bank A, the next day, there was a bank. customer B calls to ask, which means that customer information disclosure is quite common. However, according to Mr. Nam, from the consumer perspective, the most important thing is not about technology or legislation, but the consumer perception of information security, which is still relatively weak. There have been a lot of personal information theft, account theft not due to technology or legal, but due to the carelessness of users. Therefore, each citizen must actively learn basic cyber safety skills, along with state agencies accompanying businesses in communication to raise awareness for the people. Consider the risks and benefits Mr. Nguyen Ba Diep, Vice Chairman of MoMo e-wallet, said that a digital and innovative innovation model cannot work based on old regulations, heavy management, does not promote innovation. create. A simple example, instead of the parties coming to meet to sign a contract, we will use a digital signature (e-signature), sign on an e-contract, output digital documents. (e-invoice), payments in digital money (e-money) and transactions are done on digital platforms (digital platforms). Therefore, there is a need for legal provisions to create digital signatures, to identify (KYC), the identity of the signer, the legitimacy and protection of digital contracts, regulations on payment in money. electronic, manage sales on digital platforms and accept digital vouchers. “In order to meet the comprehensive digital transformation, the legal structure must also have changes in quantity and quality. However, this takes a lot of time for state management agencies to weigh risks and benefits, this is also a common trend happening worldwide because in reality there is no legal mechanism. can fully adapt to the revolutionary changes created by current technology “, Mr. Diep said. A lawyer in charge of managing a large Vietnamese commercial bank said that, basically, the current legal institutions are still inclined to paper transactions, cash transactions. There are a number of examples of this, but there is not yet a unified definition of digital assets and when there is an administrative dispute or violation, a criminal offense, there are a lot of problems like the definition by Evidence, evidence, electronic contract in the field of electronic transactions, digital transactions, how do we understand the integrity and originality of digital evidence? Another example, when a person dies leaving behind an amount of Bitcoin without an heir, nor with a password for the wallet containing Bitcoin, how will this “derelict property” be handled? Among the many problems posed with the bank number conversion, the lawyer said that banking transactions can be done almost entirely electronically, but still on the basis of a ” the first “paper” that the user communicates with the bank. However, the story would be very different if the whole process was done entirely electronically. “When taking photos of identity papers or photos of users, what data does the bank get to confirm the identity of that person?”, This person raised the problem. Agreeing with Vietinbank’s opinion, this lawyer emphasized that building a shared, linked database is extremely important to reduce effort and costs for all subjects in the commune. associations, including banks. All current legal issues pose many risks for financial and banking services on technology platforms. Therefore, the lawyer also proposed to amend the Law on Credit Institutions to be more practical, and soon allow the application of a sandbox mechanism for these services. Term 4: Legal provisions in digital economy need to be improved

Genetica’s genetic testing service will bring comprehensive information about customers such as nutritional needs, potential discovery, immune system needs, cancer risk detection, stroke, diabetes, as well as 18 common cancers in Vietnam and Asia. When correctly understanding themselves through genetic information, customers will optimize nutrition, care and education; at the same time increasing the need to protect yourself and your family from genetic threats. The partnership between SeABank and Genetica aims to provide optimal health and lifestyle solutions for the bank’s customers. Through customers’ need to choose genetic testing packages, SeABank can proactively introduce “personalized” financial and insurance solutions to bring practical value to customers. Especially, SeABank also has many incentive programs for customers when using Gentica’s gene decoding service. Sharing about the potential of cooperation, representative of SeABank Bank, Ms. Le Thu Thuy – General Director said: “ With the desire to constantly diversify products and services to improve customer experience, SeABank has cooperated with Genetica to bring our customers the most advanced genetic testing service available today. I believe that Genetica’s technological potential will help customers have an overview of their health status, nutrition and lifestyle to actively take care of their personal health as well as choose financial solutions. main, the most optimal insurance “. In the short term, cooperation is taking place in the pilot phase from March to May 2021, at 12 branches of SeABank. By the end of May 2021, the cooperation will be expanded and is expected to be deployed at 140 bank branches nationwide. Around the world, leading businesses such as Apple, Visa, SAP, GE Appliances, Tribune Media are incorporating Genetic Decoding into Comprehensive Employee Health Care Plans. According to market research firm BCC, the retail revenue of the market of genetic testing services in Asia-Pacific by 2020 is 227.5 million USD. It is expected that the growth rate of this market will be 23% in 2025, equivalent to the turnover of 639.5 million USD.

Public information shows that Chen Huaiyu, born in 1970, 51 years old this year, graduated from Beijing Foreign Studies University in 1992, and graduated from University of International Business and Economics in 1999 with a master’s degree in economics. In fact, Chen Huaiyu joined the Bank of China as early as 1997 and is another vice president promoted from within the Bank of China after Lin Jingzhen and Zheng Guoyu.

From November 2017 to February 2021, Chen Huaiyu served as President of the Bank’s Sydney Branch, Director of Bank of China (Australia) Limited, and Director of Bank of China (New Zealand) Limited. Prior to that, he served successively as Assistant to the President and Credit Risk Director of Bank of China Guangdong Branch, Executive Deputy General Manager, General Manager and Executive Director of Bank of China (Hungary) Co., Ltd., and President of Bank of China Hungary Branch.

On March 30, Chen Huaiyu stated at the 2020 annual results conference that the globalization of Bank of China is still in an important period of opportunity. As globalization enters a new stage of development, the Bank of China will take real responsibility during the “14th Five-Year Plan” period. Take up the responsibility of a global bank. At the same time, it will maintain the important proportion of globalization in the group and continue to enhance the comparative advantages of BOC’s globalization.

Bank of China is China’s most globalized and integrated bank, with offices in 61 countries and regions in mainland China and overseas. In terms of asset size, Bank of China ranks fourth among the six state-owned banks. Revenue and net profit are also in the fourth place. Data shows that in the past year, Bank of China achieved operating income of 565.531 billion yuan, a year-on-year increase of 2.98%; net profit attributable to the owners of the parent company was 192.87 billion yuan, a year-on-year increase of 2.92%.

In terms of asset quality, data show that as of the end of 2020, the Bank of China’s total non-performing loans was 207.273 billion yuan, an increase of 29.038 billion yuan from the end of the previous year, and the non-performing loan ratio was 1.46%, an increase of 0.09 percentage points from the end of the previous year. The non-performing loan provision coverage ratio was 177.84%, a decrease of 5.02 percentage points from the end of the previous year.

Chen Huaiyu said, “Looking forward to 2021, China’s economy has taken the lead in the world to resume growth. It is expected that the bank’s credit asset risk will be under control. However, considering the marginal tightening of monetary policy, the withdrawal of support policies for small and medium-sized enterprises, and the lagging impact of the epidemic And other factors, the asset quality of domestic institutions will still be under pressure.”

Source: Financial World Network

Specifically, the AB Ditizen digital bank application has just been integrated with the comprehensive automatic electronic customer identification feature – eKYC. Accordingly, customers can register to open a 100% online account right on the application with only 5 registration steps in about 5 minutes without going directly to the transaction counter. In addition, AB Ditizen is also applying the program to immediately donate the same account number with the customer’s phone number when opening new via AB Ditizen eKYC, helping users to increase their stylish experience when using digital banks. At the same time, a series of essential online financial services, including maintenance fees at AB Ditizen digital bank, will be served free of charge until December 31, 2016. Through that, AB Ditizen’s citizens can freely carry out money transfer transactions (including money transfer in ABBANK and interbank money transfer) with various forms such as account number, phone number, code. QR code … fast, secure, and worry-free about fees. These services aim to help customers more easily access digital financial services, enhance experience activities and receive more benefits, thereby gradually forming a habit of not using cash in the trend. Save digitized spending in modern society. Accordingly, ABBANK joined the group of banks with free digital banking service for customers, and is also one of the few banks providing products with competitive and modern technology platforms. .

Photo by Zhou Cong

Picture/Visual China

Text / Huang Ting Zhou Cong On April 22, the Department of Human Resources and Social Security of Guangdong Province (Guangdong Province “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping” Three Project Leading Group Office) and the Guangdong Provincial Branch of the Bank of China jointly issued the “Boosting” Cantonese Cuisine The “Master”, “Guangdong Technician” and “Nan Yue Housekeeping” project implemented the exclusive financing service plan for promoting employment and entrepreneurship. The first 9 customers who landed signed contracts and awarded licenses on site. Comrade Chen Yiwei, Secretary of the Party Leadership Group and Director of the Department of Human Resources and Social Security of Guangdong Province, and Comrade Li Ruiqiang, Secretary of the Party Committee and President of the Bank of China Guangdong Branch, attended the meeting. The Department of Human Resources and Social Security of Guangdong Province and the Guangdong Branch of Bank of China jointly issued the “Promoting “Cantonese Cuisine Masters”, “Guangdong Technicians” and “Southern Guangdong Housekeeping” Projects to Implement Exclusive Financing Service Plans to Promote Employment and Entrepreneurship. The policies, resources and wisdom of banks, associations, leading enterprises, etc., provide precise services for skilled talents and related service organizations. Both the government and the bank will strengthen the sharing of information about skilled talents and related service organizations’ financing needs, financial rewards and qualifications, and support rapid Submit for review and approval to ensure that skilled talents and related service organizations obtain loans efficiently. The launch of the “Service Plan” will create targeted financial services for skilled talents and their service organizations, meet the funding needs of various types of high-skilled talents and related service organizations at all levels in Guangdong Province in the process of innovation and entrepreneurship, and create a “work and enjoyment” The good atmosphere of “only good use, technical expertise, and old-age care” will better promote skill innovation, skill employment, and skill enrichment. At the event site, the first nine customers who landed were invited to sign contracts and award licenses. Chen Guanzhong, an entrepreneur of the “Zhongji Yunlai” store in Zhengguo Town, Zengcheng District, Guangzhou, said that he opened a store in the town last year, but due to insufficient funds, only 1/3 of the store was used. The catering industry is operated on a small scale without mortgage. In the past, it was difficult to borrow money from the bank. Now with the exclusive financing plan jointly launched by the Human Resources and Social Security Department and the Bank of China, it will quickly receive financial support, which will further expand the store and have more confidence in future development. Yang Bo, chairman of the Guangdong Association of Elderly Service Industry, also said frankly that despite the high level of social attention in the elder care industry in recent years, financing for elder care institutions is not easy. This exclusive plan can not only solve the financing problems of the organization, but also solve the financial needs of home ownership, study and further education, and children’s education for excellent domestic employees. It is really considerate.

It is understood that the “Service Plan” has three series of exclusive financing products: “Cantonese Cuisine Master”, “Guangdong Technician” and “Nan Yue Housekeeping”, closely linking the three projects of “Cantonese Cuisine Master”, “Guangdong Technician” and “Nan Yue Housekeeping”. The service targets include not only individual skilled talents and innovative entrepreneurial entities of skilled talents, but also market entities, vocational skill training institutions, schools, etc. that establish employment relationships with skilled talents. For corporate loans, the maximum limit of a single corporate mortgage-free guarantee loan is 10 million yuan; the corporate loan period is up to 5 years, and the grace period for repayment can be set in accordance with the actual situation. The Bank of China corporate E-loan business can also be borrowed and repaid on the line. Interest is calculated on a daily basis. For personal loans, the maximum amount of personal business mortgage guaranteed loans is 10 million yuan, the maximum amount of personal business mortgage-free guaranteed loans is 2 million yuan, the maximum personal consumption mortgage-free guaranteed loan amount is 300,000 yuan, and the maximum period of personal business loans is 10 years. People who apply for personal consumption loans can also be given preferential treatment.

The three projects of Guangdong Province’s “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping” are the provincial party committee and the provincial government implementing the important speech and important instructions of General Secretary Jin Ping to Guangdong, focusing on meeting the needs of the people for a better life and supporting high-quality development. Major livelihood projects deployed. The provincial party committee and the provincial government put the three projects in an important position, and made every effort to build a strategic brand in Guangdong, and achieved obvious results.

At present, there are 13.32 million skilled talents in the province, of which 4.45 million are high-skilled talents. The province’s 184 technical colleges and vocational colleges have opened Cantonese cuisine-related majors, and built 100 provincial training bases and master studios. “Cantonese cuisine masters” trained 154,000; currently, the basic information of housekeeping attendants collected on the national and provincial housekeeping platforms exceeds 700,000 person-times, four major training programs for mothers and infants, home, elderly care, and medical care have been implemented, and 696,100 person-times of “South Guangdong Housekeeping” training have been carried out. . The in-depth implementation of the three projects has provided important technical talent support for the high-quality development of Guangdong’s economy and society. This time, the Department of Human Resources and Social Security of Guangdong Province and the Guangdong Provincial Branch of the Bank of China jointly launched an exclusive financing service plan, introduced financial water, and improved preferential support policies, which will help high-skilled talents innovate and start businesses, and help build Guangdong “Cantonese cuisine master” “Guangdong Technician” and “Southern Guangdong Housekeeping” are the golden signs of the three projects.

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Features of exclusive financing services

“Promoting “Cantonese Cuisine Master”, “Guangdong Skilled Workers”, and “Southern Guangdong Housekeeping” Projects Implement Exclusive Financing Service Programs to Promote Employment and Entrepreneurship” includes a series of financing plans for “Cantonese Cuisine Master”, “Guangdong Skilled Workers” and “Southern Guangdong Housekeeping”, which brings together the government, The policies, resources and wisdom of banks, associations, leading enterprises and other parties provide precise services to skilled talents and related service organizations, which have distinct characteristics:

One, strong pertinence

The “Service Plan” uses three series of exclusive financing products: “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping”, closely linking the three projects of “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping”. The service objects include not only Individual skilled talents and innovative entrepreneurship entities of skilled talents also cover market entities that establish labor relations with skilled talents, vocational skill training institutions, schools, etc.

1. Strong support

   (1) Corporate loans. The maximum amount of a single enterprise mortgage-free guaranteed loan is 10 million yuan; the enterprise loan period is up to 5 years, and the grace period for repayment can be set according to the actual situation. The bank can also borrow and repay the loan on the whole line, and the interest is calculated on a daily basis. .

   (2) Personal loans. Personal business mortgage guarantee loan line is up to 10 million yuan, personal business mortgage-free secured loan line is up to 2 million yuan, personal consumption mortgage-free secured loan line is up to 300,000 yuan, personal business loan line is up to 10 years, and skilled talents apply for personal consumption Loans can also be given preferential interest rates.

   Guangdong Bank of China and its institutions provide green approval and fund issuance channels, and the use of funds is complete and the funds can be released within one day as soon as possible.

2. Wide use of funds

   (1) Enterprise loan funds can be used for raw material procurement, special equipment purchase, venue rent payment, business premises renovation, brand promotion, payment of employee salaries, online and offline training platform construction, course research and development, skills training, etc.

   (2) Personal business loan funds can be used for skills talents’ entrepreneurship, business turnover, skills training, and further studies; personal consumption loans can be used for personal skills training, study and further education, children’s education, etc., to support the reasonable consumption needs of skilled talents.

3. Multiple application channels

   Eligible companies and individuals can apply for and handle corporate E loans online through Bank of China Corporate Online Banking and Bank of China Mobile Banking from institutions under the jurisdiction of Bank of China Guangdong. They can also use the Guangdong Bank of China Pratt & Whitney Network Tongbao platform, and “Xinyidai”, You can submit comprehensive loan requirements online through platforms such as “Yuexinrong” and channels such as hotlines, and you can also go to the nearest Bank of China branch for consultation. Guangdong Bank of China and its affiliated institutions will respond in a timely manner, provide green approval and fund distribution channels, and complete payment information Loan within 1 day as soon as possible.

   

Mr. Jens Lottner, Chief Executive Officer of Techcombank presented at the AGM Specifically, in the period of 2021 – 2025, the Bank will focus on the most profitable sources such as home loans, CASA, asset management and promote strengths such as high-income customer segments. , real estate, payment. “Along with that, the bank will continue to diversify its revenue sources, participating in areas with potential growth in the future such as SMEs lending, ecosystem development, and partners,” said Mr. Jens Lottner. Mr. Jens Lottner also admitted that, so far, Techcombank has focused on the real estate sector, but this decision is not baseless, but carefully selected about customers. However, Techcombank also has a strategy to diversify into other areas such as telecommunications, energy … industries that play an important role in the economy and not only focus on large customers but small businesses, medium and personal. According to Mr. Jens Lottner, the next way Techcombank has a new vision is to change the banking industry, elevate the value of life. The Bank will serve different customer segments with the mission of leading the digital journey of the financial industry and each individual and organization makes a breakthrough to achieve success. “Outperforming every day, thereby bringing more value to customers and existing and future shareholders”, Mr. Jens Lottner emphasized. Techcombank Chairman and CEO run the Q&A session at the AGM Mr. Jens Lottner added that the Bank aims to reach a capitalization of 20 billion USD in 2025. Along with that, CASA rate will reach 55%; Return on equity (ROE) reached 20%. Techcombank’s market capitalization reached more than $ 5 billion in 2018 and at present it is close to $ 6 billion. Regarding the target of capitalization of 20 billion USD by 2025, are shareholders questioned whether they are ambitious? Techcombank’s CEO said: “The Bank will focus on sustainable, balanced, maintained and continuous growth to reach $ 20 billion by 2025.” In 2021, Techcombank targets a pre-tax profit of 19,800 billion, up 25.3% compared to the result in 2020. Credit balance is expected to reach nearly 356,200 billion, growth of at least 12% year-on-year. last and as far as the State Bank allows. Deposit value (including certificates of deposit for individual customers) is expected to reach VND 334,291 billion, growing at least 14.7% and in line with actual credit growth. “Confident with a new goal in 2021”, Mr. Jen Lottner confirmed. It is known that the restructuring loan balance under Circular 01 of Techcombank tends to decrease gradually over the quarters. From 3.6% in the second quarter of 2020 to 2.8% by the end of the fourth quarter of 2020. Techcombank’s capital adequacy ratio (CAR) is 16.1%. The loan-to-deposit ratio is at 78.1%; The ratio of short-term capital for medium and long-term loans is 33.9%. Notably, this meeting elected a new member of the Board of Directors with the candidate Mr. Ho Anh Ngoc (Chairman Ho Hung Anh’s brother). Thus, the number of members of the Board of Directors of the bank is expected to increase from 8 to 9 people. Looking back at the Bank’s business in 2020, Techcombank’s General Director said that it was an unprecedented difficult year in the world, but it was also an unprecedented year when Techcombank achieved many achievements. 2021 is the end of the 5-year strategy set and also a pivotal year for the next 5-year strategy. It is known that Techcombank has the highest credit growth in the industry, using up the credit limit assigned by the State Bank, in addition, mobilization also increased sharply, especially demand deposits (CASA). Mr. Ho Hung Anh, Chairman of Techcombank said that Techcombank maintains a very strong CASA development strategy, CASA market is only 22%, but Techcombank is up to 46%. “The Bank’s NIM is not high, not because of high interest rates, but because of cheap capital costs, high CASA,” he said.

This is an indicator that Vietcombank will reach and exceed its profit target for the whole year 2021. Previously, Vietcombank pre-tax profit in 2020 reached more than 23 trillion dong, equivalent to 2019 and reached 116.3% of the plan assigned by shareholders. Market capitalization by the end of 2020 reaches 15.7 billion USD and by April 22nd is over 16.4 billion USD – leading the industry. Expectedly, in 2021, the bank sets a target of 11% consolidated pre-tax profit (estimated at 25,585 billion dong), and separate pre-tax profit of 25,000 billion dong. Total assets are targeted to increase by 5%, capital mobilization from the economy increases by 7%, credit increases by 10.5%, and bad debt ratio is below 1%. In addition, the bank also plans to pay 2021 dividends at a rate of 8%. Mr. Nghiem Xuan Thanh, chairman of Vietcombank, said that the bank has set a strategic goal of 2 billion USD profit by 2025, of which the retail segment will contribute 50%, regardless of the Covid-19 epidemic affecting economy in general. Vietcombank also plans to increase its capital by more than 13 trillion dong to over 50 trillion dong by issuing shares to pay dividends from the remaining profit in 2019 and issuing separate shares with a scale of 6.5. % charter capital for up to 99 investors. Strategic partner Mizuho Bank will buy about 46.1 million additional shares to keep a minimum ownership rate of 15%. The bank continues to make great profits. Currently, Vietcombank is the bank with the highest new credit in the system. Therefore, if the capital is not raised, Vietcombank will not ensure the capital adequacy ratio as prescribed and this will affect the bank’s ability to provide credit to the economy, affecting its operational efficiency. In 2021, VCB expects that its total assets growth for the whole year will reach 5%, capital mobilization will increase 7% and credit growth will reach 10.5%. In the first quarter of 2021, many banks recorded high profit results and also set high targets for the year. VIB Q1 profit before tax increased 68% to more than 1.8 trillion dong thanks to the growth in scale and quality of the asset summary sheet, along with diversifying income sources. non-credit. ROE is 31%, highest in the industry. Also in the first quarter, Ho Chi Minh City Development Joint Stock Commercial Bank – HDBank (HDB) of billionaire female billionaire Nguyen Thi Phuong Thao recorded pre-tax profit of over 2.1 trillion dong, up 88% year-on-year. . During this year’s congress season, many banks have set out very impressive profit growth plans. Tien Phong Commercial Joint Stock Bank (TPBank) of Mr. Do Minh Phu is expected to grow 32% of its profit before tax this year compared to 2020, equivalent to about VND 5,800 billion. Saigon Hanoi Commercial Joint Stock Bank (SHB) of Mr. Do Quang Hien approved the highest 2021 profit plan to increase 88% to 6,100 billion if the bank completes raising capital in the third quarter. Viet Capital Commercial Joint Stock Bank – Viet Capital Bank (BVB) aims to grow 44% of its profit in 2021 thanks to its strategy of promoting retail sales, increasing bad debt collection, expanding network of operations … On the stock market, bank shares have risen sharply. From the beginning of this year to the end of the third week of April 2021, many Vietnamese banking stocks have had a very high growth rate of over 50%. The average increase in the banking sector’s share price was 15%, higher than the 10% increase in the number of VN-Index. The dominance of bank share prices is driving the entire stock market. It is forecasted that the profit of listed banks will grow 25-30% this year will be the main driving force to make bank shares more exciting. On the stock market (stock market), the VN-Index recovered to close to the threshold of 1,250 points. Closing the session on April 23, the VN-Index increased by 20.71 points to 1,248.53 points; The HNX-Index fell 3.4 points to 283,634 points. Upcom-Index increased 0.65 points to 80.4 points. Liquidity reached 23.3 trillion VND.

Specifically, Techcombank targets 2021 consolidated pre-tax profit at 19,800 billion, up 25.3% compared to the result in 2020. Credit balance is expected to reach nearly 356,200 billion, growth of at least 12%. compared to last year and within the amount allowed by the State Bank. Deposit value (including certificates of deposit for individual customers) is expected to reach VND 334,291 billion, growing at least 14.7% and in line with actual credit growth. Notably, Techcombank targets 2021 consolidated pre-tax profit to reach 19,800 billion, up 25.3% compared to 2020. NPL ratio is expected to be below 2%. Techcombank 2021 shareholders meeting Techcombank’s management said it would improve efficiency by concentrating resources to increase demand deposit balance (CASA), on home buying value chains, real estate and high-income customers. Techcombank will also focus resources on customer-transaction banking platforms; upgrading credit processes; providing the right process for customers, minimizing the time to reach “approval”; analyzing data to gain insights into customers; creating a technological platform for building and implementing specialized financial products and services … At the meeting, Techcombank continued to submit to shareholders not to pay dividends, which meant keeping more than 26,700 billion dong of undistributed profits for business operations. At the same time, the bank continues to submit to shareholders the plan of issuing shares for selected employees (ESOP). Number of shares expected to be issued is more than 6 million shares, selling price is 10,000 dong / share. Shares are restricted from transfer for 1 year. In addition, at this meeting, a new member of the Board of Directors will be elected with the candidate Mr. Ho Anh Ngoc (Chairman Ho Hung Anh’s younger brother). Thus, the number of members of the Board of Directors of the bank is expected to increase from 8 to 9 people. Mr. Ho Anh Ngoc was born in 1982, holds a Master’s degree in economics from Macquarie University Sydney, Australia. He is also a CPA member of the Australian Auditing Association. Since 1/2007, Mr. Ho Anh Ngoc has held many positions at Techcombank, from Deputy Director of Consumer Service Card Center; Director of Ho Chi Minh City Branch; Deputy Head of Wholesale Banking Division and Head of Wholesale Banking in the South, … Currently, he is holding the Southern Representative Board of Techcombank, is the Chairman of the Board of Directors of One Mount Group, Chairman of JSC 1MG Housing, Chairman of JSC One Distribition. In addition, from 1 / 2013-5 / 2018, he was a Vice Chairman / Chairman of the Board of Members of Techcombank AMC. From November 2011 to January 2013, he was Vice President cum General Director of Thao Dien Investment Joint Stock Company, … HA Techcombank aims to make a “huge” profit of nearly 20,000 billion in 2021

today, PlayStation China officially announced that the “PlayStation China Conference 2021” will be live streamed online at 11:00 AM on April 29 (next Thursday), so stay tuned!

@SONY中国官微 reposted the above news as soon as possible: “I finally waited for you”. @MySony Club synchronized follow-up: “ The fewer the words, the bigger the matter, the editor’s warm reminder: remember to register as a My Sony member in advance, and make sure that the reserved phone number is real and valid. “

After the world premiere in November last year, many players are eagerly looking forward to when the PS5 National Bank version will arrive, and now it is finally fulfilled.

A few days ago, Sony China released a picture of the PS5 and the controller on its official Weibo, with a text: It is indispensable for you to make a black appointment.

It is reported that, The National Bank version of PS5 has been reviewed in December last year. The models are CFI-1009A and CFI-1009B, corresponding to the CD-ROM version and the digital version respectively. , The manufacturer is Hongfujin Precision Electronics (Yantai Foxconn), and the first certification date is December 10.

Given that the price of the US version of PS4 Pro and the PS5 digital version is the same, there are media speculations that the price of the PS5 National Bank digital version should be the same as the PS4 Pro National Bank version. That is 2999 yuan, the price of the CD-ROM version will probably increase by 800 yuan on this basis, which is about 3799 yuan.

But there are also speculations that With the current shortage of chips and limited production capacity, it is difficult for the Bank of China PS5 to maintain the price of around 3,000 yuan, and the price may increase with a high probability.

Some netizens said: “I have a hunch that it will be 3999, and the Bank of China can kill profiteers as long as it does not lock the area below 4000.” Some netizens said, “ The price should be pretty good, but I’m worried about locks and snapping up the air” .

It is worth mentioning that the overseas version of the next-generation console PS5 and Xbox Series X/S have been removed from the shelves in a large number of stores. At present, it is difficult to buy overseas version of PS5 console equipment on major e-commerce platforms.

As a result, the first batch of PS5 shipments of the Bank of China will inevitably follow a slow pace. You can prepare in advance for children’s shoes that you plan to buy.

Mr. Minh affirmed that Sacombank and LienVietPostBank are currently two completely independent banks with no contact with each other. Mr. Minh said that he now dedicates all his love and enthusiasm to Sacombank because this is the bank associated with his interests at the moment. At the meeting, Mr. Minh also shared with his desire to receive dividends from many Sacombank shareholders soon. Mrs. Kim Cuc (70 years old) said she had invested in Sacombank for decades and had the greatest desire to receive dividends. Mrs. Cuc said that the bank’s leaders during the restructuring period drove Sacombank to achieve good business results, bringing joy to shareholders, but if the dividend is paid, “the more fun”. “I myself also want to be paid dividends. Sacombank’s stock price is currently good. But if we are restructuring, we must follow the roadmap of the State Bank. Dividend distribution must wait for successful restructuring ”, Mr. Minh answered to shareholders. Mr. Minh reiterated his promise when accepting the task of restructuring Sacombank, the Board of Directors committed to try to succeed after 5 years. After the restructuring is successful, the bank will return to its normal state, and will be entitled to pay dividends. Chairman of Sacombank expects that by 2022 or early 2023, dividends can be distributed to shareholders. Another issue is that the strategic shareholder participation in Sacombank, which is of interest to investors, is also briefly answered by Mr. Minh that can only be discussed after the restructuring is successful, reporting to the State Bank. “Successful restructuring takes into account dividends and strategic shareholders. The Board of Directors is trying its best, uniting with the management board and Sacombank’s staff to successfully restructure in 5 years as promised when receiving the tasks. Up to now, I affirm that Sacombank has regained its position in the banking and financial market, operating stably and strongly developing ”, Mr. Minh emphasized. Currently, 32% of Sacombank’s shares are collateral assets under the management of VAMC. Chairman of Sacombank said that according to the restructuring plan, the bank must consult the Prime Minister to implement the plan of auction of shares. this part. Expected price includes the original price plus interest about 33,000-34,000 VND. Mr. Minh said that these shares may have to wait until 2022 to resolve. Chairman of the Board of Directors of VAMC Nguyen Tien Dong assessed that if the auction is successful for these Sacombank shares, the bank will have more investors with “fresh money, real grain” to participate and the business will be more active. Regarding the business situation in the first quarter, Sacombank General Director Nguyen Duc Thach Diem said that the first 3 months’ profit reached 25% of the plan of pre-tax profit of 4,000 billion VND in 2021. The credit balance in the first quarter increased by 5.8 %, capital mobilization increased 3%. In the first 4 months of the year, the bank successfully handled 2,280 billion dong of bad debt.

With the continuous progress of the society and the continuous development of the economy, leading to the advancement of science and technology, the service methods of banks have also undergone great changes. Everyone has actually discovered the emergence of online banking apps in their daily lives. These online services are manifesting the decline of cash and the rise of the Internet age.

ATM machines keep disappearing

The advancement of technology and the popularization of the Internet have brought about not only the disappearance of manual counters, but also the disappearance of ATMs. Now various banks are promoting mobile online transaction services, and have launched mobile banking apps one after another. These mobile banks contain many functions, including deposits, withdrawals, and transfers. The promotion of these online functions is squeezing the ATM machine market. People are increasingly reluctant to go out. One-click online processing is obviously more tempting than cycling to offline banks for business. Therefore, bank ATMs and counters seem a little bleak.

The only customers who are still insisting are often elderly people who are not very good at using the online functions of their mobile phones, so they can only go to the bank to consult the staff. When the demand for ATM machines drops, the supply exceeds the demand, and the price naturally drops. Ten years ago, an ATM machine can be said to be a rarity, so a machine can be sold for hundreds of thousands. However, the current situation of oversupply has forced ATM merchants to lower their prices. The sky-high price of ATMs, which was once hundreds of thousands, has also fallen to tens of thousands of dollars per unit.

ATM machine facial recognition service appeared

From the previous analysis, it can be found that young people no longer use ATMs in offline banks. The users of ATMs are actually mainly elderly people. However, for elderly people with mobility impairments, the operation of ATM machines is still It’s too complicated. Usually, they seek the help of bank counter staff to realize manual withdrawal or deposit. Therefore, the automatic teller machine has launched a new technology for the elderly, that is, the function of cashing by face.

For the elderly, it is possible to avoid a lot of operation of reading the text instruction keys. In fact, many rural elderly people are illiterate, and the text instructions of the keys are more difficult for them. Therefore, eliminating these operations and directly swiping the face to withdraw money greatly simplifies the withdrawal steps for the elderly and greatly facilitates the elderly population. The core of this face recognition and withdrawal technology is similar to that of mobile phone face recognition unlocking and Alipay face payment.

The development of science and technology has enabled these technologies to be realized, and it has also brought a turning point for ATM machines. After all, ATM machines have lost the young consumers, and if the elderly cannot use them, there will be no market for ATM machines. Since there is no way to recover the young people’s market, we will focus on improving machines for the elderly to gain usage. If the elderly find that they can withdraw money directly by swiping their faces, without any formalities or literacy, they will definitely not go to the counter and go directly to the ATM.

ATMs keep customers

Face-swiping cash withdrawal technology not only has a great effect on the elderly, but also has an emergency effect on those who are in urgent need of money when they go out and do not have a bank card with them. After all, the small bank card is very easy to lose. When it is lost or forgotten, it is difficult to use the ATM or counter. When the facial recognition withdrawal technology is promoted, everyone can withdraw money without carrying a bank card, and it is very simple and convenient.

In April this year, this new technology has begun to be promoted in various places on a pilot basis. Many banks are trying to use this technology to test the preferences of consumers. Sure enough, after the implementation of the face-swiping technology, the flow of people going to the ATM to withdraw money has increased significantly. The pressure on the counter has also been reduced a lot, and this result has surprised ATM machine merchants.

In fact, in the era of the rise of the Internet, cash is also used to a certain extent. Many elderly people still use cash in the process of grocery shopping. After all, smart phones are still more difficult for them to operate. Therefore, this part of the increase in ATM machine traffic is mostly middle-aged and elderly people who have a demand for cash. It just happens that the ATM machine’s face-scanning service is very convenient, so they naturally choose to use ATM.

In daily life, the counter is always full of loud communication between the elderly and the staff. After all, the ears of the elderly are constantly declining, and they can’t hear the explanations of the staff clearly. The communication between the staff and the elderly is a problem. The collection of social security has also become more complicated. The reform of ATM machines can just solve this problem. Today, when pensions are becoming more popular, the technical reform of ATMs can alleviate the pressure on the counter caused by pension payments and make banking services much more convenient and faster.

Afterword

The bank’s approach fully reflects the current state’s care for the elderly, which is of great help to improving the social environment and solving people’s livelihood problems. It is hoped that banks and other social institutions will continue to improve their service systems, continuously improve service quality, simplify procedures, and truly facilitate the people and benefit the people.

Accordingly, Sacombank’s shareholder meeting has approved the business plan of 2021 with the pre-tax profit target of 4,000 billion dong, up 20% year-on-year. In addition, total assets are 533,300 billion VND, an increase of 8% compared to 2020; the total mobilized capital reached 485,500 billion VND, an increase of 9% over the previous year. In which, mobilization from residents and economic organizations is expected to reach VND 478,300 billion, an increase of 9%; Total credit balance reached 372,000 billion VND, up 9% compared to 2020. Sacombank said, based on the allowed credit growth of the State Bank and the business situation in 2021, the Board of Directors will adjust appropriate deposit and loan growth target. NPL ratio with Sacombank’s target in control is below 2%. Answering questions from shareholders about business results in the first quarter of 2021, Ms. Nguyen Duc Thach Diem, General Director of Sacombank said that by the end of March 2021, Sacombank’s capital mobilization increased by over 3.5%, lending credit room reached 5.8%, revenue over 1,200 billion services. Bad debt settlement in 4 months is 2,280 billion dong. Profit reached 25% of the plan, equivalent to 1,000 billion VND. Sacombank’s Board of Directors also said that the bank’s profit retained was high at 6,000 billion dong. The Bank plans to use retained earnings to pay stock dividends, to increase charter capital as well as to meet shareholders’ expectations for many years without receiving dividends. Sacombank has submitted to the State Bank for dividends, but since the Bank is in the restructuring process, resources must be concentrated to handle bad debts. Sacombank aims to handle VND 10,000 billion of bad debt. Responding to shareholders about the dividend schedule, Mr. Duong Cong Minh, Chairman of the Board of Directors of Sacombank, said that when the restructuring is successful, the Bank’s Board of Directors promises to try to restructure successfully in 5 years, expected to be 2022 or more. to normal status, early 2023 will be able to pay dividends. According to Mr. Minh, the Bank is focusing on handling outstanding bad debts. The bank continues to open a public and transparent auction of Phong Phu industrial park. Over the past time, Phong Phu shareholders have had a lot of controversy to buy and sell lawsuits, so the People’s Committee of Ho Chi Minh City is suspending to resolve it completely, hoping to continue to handle it in 2021. In addition, Sacombank has also sold successful auction of many real estate to recover bad debt. Before the information about whether to merge LienVietPostBank (LPB) into Sacombank (STB) as well as the relationship between these two banks, Mr. Duong Cong Minh said: “LienVietPostBank is a natural child, I let go to get married, Sacombank is my daughter-in-law recently married, so I’m more precious, and my job is to focus on Sacombank “. In addition, the Chairman of Sacombank also informs shareholders about plans to sell capital to foreign investors that can only be resolved when the restructuring is successful. Speaking at the AGM of Sacombank this morning, the representative of the State Bank highly appreciated the handling of the post-merger bad debts of Sacombank. In particular, the role of the head of the Board of Directors is Mr. Duong Cong Minh – Chairman of the Board of Directors and Ms. Nguyen Duc Thach Diem – General Director of Sacombank. However, at the request of SBV leaders, after the epidemic is controlled, Sacombank needs to focus on promoting asset sales to handle bad debts and outstanding assets since the time of Tram Be at Phuong Bank. South after merging with Sacombank. By the end of 2020, Sacombank’s consolidated pre-tax profit reached VND 3,339 billion, an increase of 3.8% compared to 2019 and 30% higher than the plan. Profit after tax reached VND 2,682 billion, up 9.2%. Total provision balance of Sacombank by the end of 2020 is 13,000 billion VND, an increase of 43.3% compared to 2019 (equivalent to the level of provisioning in 2020 is 3,951 billion VND). As of December 31, 2020, total bank assets reached VND 492,637 billion, an increase of 8.6% compared to the end of the previous year. Customer deposits increased by 6.8%, reaching VND 427,972 billion. By the end of 2020, the total NPL of Sacombank increased by 0.8% to 5,780 billion VND. Meanwhile, customer loans balance grew 14.9% y / y to VND 340,268 billion. Thereby dragging the ratio of NPLs to total outstanding loans decreased from 1.94% to 1.7%. Sacombank’s revenue from collecting and handling bad debts in the past year reached more than VND 15,200 billion. In which, 8,200 billion VND was withdrawn from the Sacombank Restructuring Project after merging with Southern Bank. Raising the accumulated recovery from the project implementation to 46,457 billion VND, reaching 52.2% of the overall plan of the Project to 2025, exceeding 4.2% of the progress. Outstanding assets under the Project decreased by 48.2% compared to the end of 2016, accounting for 9.8% of total assets, contributing to increasing the proportion of profitable assets from 67.9% to 85.2%.

On April 15, the Consumer Protection Bureau of the China Banking and Insurance Regulatory Commission issued the “Notice on Consumer Complaints in the Fourth Quarter of 2020” (hereinafter referred to as the “Notice”), which notified the banking industry that the China Banking and Insurance Regulatory Commission and its dispatched agencies received and transferred. Consumer complaints.

The “Notice” pointed out that in the fourth quarter of 2020, the China Banking and Insurance Regulatory Commission and its dispatched offices received and forwarded 76,224 consumer complaints from the banking industry, a decrease of 10.4% from the previous quarter.

Among them, there were 25,873 cases involving large state-owned commercial banks, a decrease of 5.2% from the previous month, accounting for 33.9% of the total number of complaints; 31,849 cases of joint-stock commercial banks, a decrease of 15.0% from the previous month, accounting for 41.8% of the total number of complaints.

The “Notice” stated that the median number of complaints from large state-owned commercial banks was 4376. The number of complaints from China Construction Bank and Industrial and Commercial Bank of China ranks among the top two large state-owned commercial banks.

The median number of complaints from joint-stock commercial banks was 2,959. China Merchants Bank, Ping An Bank, and China CITIC Bank ranked the top three joint-stock commercial banks in terms of complaints.

In terms of the number of complaints, the Bank of Communications ranked first in the number of large state-owned commercial banks in terms of complaints per 1,000 business outlets, and the Bank of Communications ranked first in the number of large state-owned commercial banks in terms of complaints per tens of millions of individual customers. Ping An Bank ranks first in the number of joint-stock commercial banks in terms of complaints per 1,000 business outlets, and Hua Xia Bank, Industrial Bank, and Ping An Bank ranks among the top three joint-stock commercial banks in terms of complaints per tens of millions of individual customers.

In addition, in the fourth quarter of 2020, there were 44,621 complaints involving credit card business, a decrease of 7.8% from the previous quarter, accounting for 58.5% of the total number of complaints.

Among the complaints involving large state-owned commercial banks, there were 15,043 complaints about credit card business, a month-on-month increase of 2.8%, accounting for 58.1% of the total complaints of large state-owned commercial banks; among the complaints involving joint-stock commercial banks, there were 26,800 credit card business complaints, a decrease from the previous month. 13.2%, accounting for 84.1% of the total number of complaints from joint-stock commercial banks.

The number of credit card business complaints from China Construction Bank and Bank of Communications ranks among the top two large state-owned commercial banks. China Merchants Bank, China CITIC Bank, and Ping An Bank ranked the top three joint-stock commercial banks in terms of credit card business complaints.

There were 18,102 complaints involving personal loan business, a decrease of 10.5% from the previous month, accounting for 23.7% of the total number of complaints. The personal loan business complaints of Industrial and Commercial Bank of China and Agricultural Bank of China rank among the top two large state-owned commercial banks. Ping An Bank ranked first in the number of joint-stock commercial banks in terms of complaints regarding personal loan business.

In the fourth quarter of 2020, there were 3338 complaints involving wealth management businesses, a decrease of 23.0% from the previous quarter, accounting for 4.4% of the total number of complaints. Postal Savings Bank of China ranked first in the number of large state-owned commercial banks in terms of complaints concerning wealth management services. Ping An Bank, China Merchants Bank, and Shanghai Pudong Development Bank ranked the top three joint-stock commercial banks in terms of complaints about wealth management services.

Produced | Sohu Think Tank

Edit | Yuan Changyou

Wu Xiaoqiu, vice chairman of the Academic Committee of Renmin University of China and dean of the China Capital Market Research Institute, said in a guest program of “National Wealth Lecture Hall” recently that an important sign of the success of capital market reform should be among the top 10 listed companies in China by market value. , There are at least 5 high-tech companies.

Wu Xiaoqiu said that the capital market focuses on growth. In the past, the capital market paid too much attention to traditional industries and confuses importance and growth. Therefore, one of the important signs of the success of the capital market reform is that among the top 10 listed companies in China by market value, there are at least five high-tech companies.

“At present, Moutai and financial companies rank relatively high. Although financial institutions are very important, they are the country’s important tools and towns, but in terms of industrial competitiveness, investor returns and asset growth, high-tech companies are more important. It is important.” He said that if the current policy guidance allows commercial banks to flow 400-500 billion yuan into high-tech companies from the profit of more than 1 trillion yuan, then the market value rankings of listed companies will undergo major changes in the future.

Wu Xiaoqiu said that without the intervention of new finance, the process from new technology to new industry will be very slow. To this end, we should fully realize the role of finance in promoting the transformation of new technologies into new industries. The role of finance is not only to provide loans for enterprises, but also to incubate the emergence of new enterprises and promote the transformation of new technologies to new industries. This is the deeper meaning of financial services to the real economy.

“Although traditional markets are easy to manage, they have weak functions, a single unit, and low efficiency. China’s financial development to the current prosperity is the result of persisting in reform and opening up, marketization, and the integration of technology and finance. We cannot Let it return to the era of traditional finance.”

Wu Xiaoqiu emphasized that China’s financial market competition is not yet sufficient. It is necessary to promote financial market competition through financial disintermediation reforms and technological reforms. At the same time, appropriate financial policies must be provided so that the high-tech real economy can obtain more profits.

He pointed out that the valuation of technology companies can reach 50-70 times, while the average value of the banking industry is about 5 times. The highest valuation of China Merchants Bank is only 10-12 times. “If profits can flow to high-tech companies, the value of China’s capital market will not only be 80 trillion, but may reach 120 trillion or more. This will help us reach the goal of a securitization rate of over 100%.”

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