Eximbank is sorry, what about the 8.8 billion dong profit?

And Mr. Nguyen Ho Hoang Vu frankly admitted that "the bank's debt settlement officers were very mechanical, did not follow the procedure but sent a very mechanical notice, leading to frustration from customers".

Mr. Vu said the bank has been actively working with the customer. On March 19, Eximbank representatives met and discussed frankly with the customer in the spirit of cooperation, understanding and sharing, agreeing to coordinate to resolve the case, ensuring the interests of both parties in the shortest time.

To avoid similar cases, Eximbank representatives have notified Eximbank branches and transaction offices about not recording SMS banking fees and account management fees for payment accounts of customers that have not been used for a long time, have not had any transactions and have a balance of 0 VND.

Customers who want to close their accounts do not have to pay the debited fees, but the branch or transaction office will proactively consider and resolve the matter free of charge...

This move shows that Eximbank has realized the incredibly unreasonable interest calculation method, leading to a credit debt of 8.5 million VND, after 11 years the customer was charged interest of up to 8.8 billion VND.

Along with that, Eximbank has understood the shortcomings of not promptly informing customers of balance changes and understood the stubbornness and unreasonable handling of work by a part of Eximbank staff, leading to the matter not being resolved for many years. In short: Eximbank has understood that in this case, part of the fault lies with the bank.

In a related statement, Director of the State Bank of Vietnam, Ho Chi Minh City branch, Vo Minh Tuan, was very profound when he said: "Banks operate on reputation, if such an incident occurs, it will more or less affect the brand, weakening the competitive advantage."

And in reality, what happened shows that Eximbank's reputation has declined a lot, even though the customer's interest of 8.8 billion VND and principal debt of 8.5 million VND are still unknown, and cannot be resolved.

The proof is that many Eximbank cardholders have contacted the bank to check their balance, debt or interest rate... A series of customers proactively connected with the bank to carry out the process of stopping transactions, ending contracts, and canceling cards with the same answer... "no need".

To put it more correctly, they do not trust Eximbank and are afraid that Eximbank's interest calculation method will lead to consequences that one day they themselves may fall into a similar situation!?

Therefore, to regain trust with customers and reduce brand impact, the above announcement is not enough. Eximbank should erase the interest debt of 8.8 billion VND for customers; at the same time, invite the authorities to verify and clarify where the principal debt of 8.5 million VND originated from?

If it is not from the customer, Eximbank needs to clear the debt and publicly apologize to the customer to show responsibility and credibility; so that customers can trust Eximbank's services without worrying about being charged such unreasonable interest.

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