[Vnbiz] EIU Vietnam Finance Foreign Bank joins domestic ATM net

[Craig Stevenson]

Vietnam finance: Foreign bank joins domestic ATM net
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 September 7th 2006

   FROM DIALOG NEWSEDGE

[Thai Press Reports]

Singapore's United Overseas Bank (UOB) has become the first foreign bank
linked to the domestic Vietnam Bank Card (VNBC) network.

The VNBC network, launched by the Eastern Asia Commercial Bank (EAB) in
2005, is one of the main money-sharing networks in the country with 1,000
points of sale (POS) terminals and 400 ATMs.

The UOB currently has more than 600 POS terminals strategically placed at
established hotels, retail shops, hospitals, clinics, golf clubs and
restaurants in Vietnam.

As part of the VNBC network, the UOB will be able to bring services closer
to member cardholders. The partnership with the UOB will increasingly
benefit cardholders through the enlarged VNBC network of more than 1,600 POS
terminals.

The UOB has operated in Vietnam since 1995. Besides providing trade finance
services, corporate banking, SME loans and car financing to customers, the
UOB has played an active role in providing credit card services in Vietnam.

EAB general director Tran Phuong Binh has welcomed the UOB as a member of
the VNBC, hoping that its membership will add value to the system.

The EAB is one of Vietnam's leading joint stock commercial banks known as
the first one to have established an automatic banking system that operates
24 hours a day to serve customers with or without cards. - VOV

Copyright (c) 2006 Thai Press Reports

Copyright (c) 2006 The Dialog Corporation
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