Vietcombank announces 6 gold selling points, only selling, not buying

Vietcombank has just announced that it will sell SJC gold bars directly to individual Vietnamese customers.

Accordingly, regarding the location of gold sales, SJC gold bars will be purchased by Vietcombank from the State Bank and sold directly to people, initially at 6 transaction points in Hanoi and Ho Chi Minh City.

Specifically, in Hanoi, there are 3 locations: Vietcombank Transaction Office (No. 11 Lang Ha, Thanh Cong Ward, Ba Dinh District); Vietcombank Hanoi Branch (No. 11B Cat Linh, Quoc Tu Giam Ward, Dong Da District); Vietcombank Ba Dinh Branch (No. 72 Tran Hung Dao, Tran Hung Dao Ward, Hoan Kiem District).

In Ho Chi Minh City, including: Vietcombank Ho Chi Minh City Branch Headquarters (No. 5 Me Linh Square, Ben Nghe Ward, District 1); Vietcombank Nam Sai Gon Branch Headquarters (No. 23 Nguyen Huu Tho, Tan Hung Ward, District 7); Vietcombank Thu Duc Branch Headquarters (No. 50A Dang Van Bi, Binh Tho Ward, Thu Duc City).

Regarding the gold selling price, Vietcombank said that based on the gold bar purchase price from the State Bank, Vietcombank will determine and announce the SJC gold bar selling price on the Vietcombank website and at Vietcombank's gold selling locations mentioned above.

Regarding the method of buying gold, customers go directly to the above Vietcombank gold selling locations to make transactions, make payments in cash or by bank transfer and receive gold immediately. Sales invoices are provided to customers buying gold in the form of electronic invoices.

Four state-owned commercial banks will start selling gold bars from early next week.

“Vietcombank has been officially licensed by the authorities to trade in gold bars and is completing the conditions to ensure the implementation of selling gold bars directly to people in a convenient, safe and transparent manner, thereby contributing to the successful implementation of the goal of narrowing the gap between domestic gold prices and world gold prices to an appropriate and sustainable level according to the policies and directions of the Government and the State Bank,” said Vietcombank’s announcement.

In addition, this Bank notes to customers: In case of planning to buy gold in large quantities, to ensure compliance with legal regulations on anti-money laundering, customers should prepare information to declare or open an account at Vietcombank before the transaction or make payment by bank transfer for more convenience and speed in the transaction.

At the same time, Vietcombank only sells SJC gold bars to individual customers and does not buy SJC gold bars from customers.

Agribank: Selling gold at 4 transaction points

Agribank also said it will sell SJC brand gold bars directly to individual customers who are Vietnamese citizens. SJC brand gold bars are purchased by Agribank from the State Bank and sold directly to the people.

Regarding gold selling locations, Agribank will initially organize sales at 4 transaction points in Hanoi and Ho Chi Minh City.

Specifically, in Hanoi City, including: Agribank Headquarters, Transaction Office Branch (No. 2 Lang Ha, Thanh Cong Ward, Ba Dinh District); Agribank Headquarters, Hanoi Branch (No. 77 Lac Trung Street, Vinh Tuy Ward, Hai Ba Trung District).

In Ho Chi Minh City, including: Agribank Headquarters, Saigon Branch (No. 02 Vo Van Kiet, Nguyen Thai Binh Ward, District 1); Agribank Headquarters, Saigon Center Branch (No. 28-30-32 Mac Thi Buoi, Ben Nghe Ward, District 1).

Gold selling hours during the week from Monday to Friday (except holidays and Tet according to regulations). Morning: From 9:00 - 11:30; Afternoon: From 13:30 - 16:00.

Regarding the gold selling price, Agribank will base on the purchase price of SJC brand gold bars from the State Bank to determine the selling price and announce the selling price of SJC brand gold bars on the Agribank website and publicly post it at Agribank's gold selling locations as above.

To buy gold, customers bring their required identification documents directly to Agribank's gold selling locations to make transactions. Customers can make payments in cash or by bank transfer and receive gold immediately. Sales invoices are provided to customers buying gold in the form of electronic invoices.

Agribank also reminds customers: In case of planning to buy gold in large quantities, to ensure compliance with legal regulations on anti-money laundering, customers should prepare information to declare or open an account at Agribank before the transaction or make payment by bank transfer for more convenience and speed in the transaction.

Agribank also only sells SJC gold, not buys gold from customers.

BIDV: No profit target when selling gold

Mr. Le Ngoc Lam, General Director of BIDV Bank, said that the Bank is completing the procedures to establish a trading relationship for buying and selling gold bars with the State Bank. BIDV also established a distribution network in major gold trading areas (Hanoi, Ho Chi Minh City, Da Nang, Can Tho, Ba Ria - Vung Tau ...), initially implementing in Ho Chi Minh City and Hanoi. BIDV will announce the list of gold bar selling points mentioned above, the time to start selling gold bars and the daily selling price on the Bank's website.

“We have determined that in order to implement the Government and the State Bank’s policy of stabilizing the market, we will not set a profit target but will supply at a suitable price based on the purchase price from the State Bank. This will contribute to the early realization of the goal of reducing the gap between domestic and world gold prices,” said Mr. Le Ngoc Lam.