According to statistics of the State Bank of Khanh Hoa Branch, the amount of remittances this year continues to grow.
According to statistics of the State Bank of Khanh Hoa Branch, the amount of remittances this year continues to grow.
Many channels of remittance
Vietcombank Khanh Hoa is the leading unit in the branches of credit institutions in the area in attracting remittances in 2019. Ms. Vo Thi Thu Huong - Deputy Director of Vietcombank Khanh Hoa, said that in 10 months of 2019, the amount of remittances through the branch reached USD 46 million. The branch has many remittance channels, ensuring the quality of service and a reasonable fee. The increase of remittances is thanks to that Vietcombank has added more money transfer channels, including specific channels for Japan and South Korea. As usual, the amount of overseas remittances at the end of the year has risen as overseas Vietnamese send money their relatives in the country for Tet.
At VietinBank Khanh Hoa, remittances in the first 10 months of 2019 reached nearly USD4 million, an increase of USD256,721 over the same period last year. In order to attract remittances, in 2019, the bank branch has many promotions and emulation programs for remittance products and services to attract customers to receive remittances at VietinBank.
Ms. Dinh Mai Ly - Deputy Head of Customer Transaction Office of BIDV Khanh Hoa said that the main remittance markets include: USA, Russia, Canada ... In order to attract remittances, branches are interested in improving service quality. , connect with overseas remittance companies, increase promotions, diversify gifts to attract customers. In 2018 and the first half of 2019, foreigners remit money mainly to buy or sell apartments or hotels in Ho Chi Minh City. Nha Trang. However, near the end of 2019, the source of money decreased due to the slowdown in the situation of hotel apartments.
Currently, besides the method of remittance at the counter, commercial banks have deployed to deliver money transferred online and remittances home which are convenient for customers.
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Keeping increase
According to Nguyen Hoai Chieu - Director of Khanh Hoa Branch’ State Bank in the first 10 months of 2019, the amount of remittances from abroad transferred to Khanh Hoa province through commercial banks reached USD87.39 million, increasing by USD5.7 million USD (up 7%) over the same period last year. The source of remittance to Khanh Hoa is mainly from the US, UK, Canada, France, Norway, Australia, Russia, Japan, Korea, Taiwan (China), etc. Most of the remittances were withdrawn and transferred into payment accounts. For many years, the source of foreign currency has been supporting production and business, investing in the real estate, solving difficulties for their relatives. This is also a source to help stabilize foreign currency. During the year, the legitimate needs of the people, organizations and enterprises on foreign currencies for studying abroad, importing and exporting, treating diseases, etc. were supplied by the banking; no shortage occurs.
According to the World Bank's forecast, the amount of remittances flowing to Vietnam is estimated at 16.7 billion USD in 2019, up 4.6% compared to the previous year. Vietnam is among the 10 countries with the largest remittances in the world and the 3rd country in Asia. Remittances to Vietnam have increased nearly 120 times, from USD 0.14 billion in 1993 to USD 16 billion in 2018 and to USD 16.7 billion in 2019. This is a great resource to balance and stabilize the exchange rate.
Nam Du
Translated by T.T
