Financial sector elicits most complaints in Vietnam

Feb 7th at 14:03
07-02-2020 14:03:52+07:00

Financial sector elicits most complaints in Vietnam

Banking, finance and insurance were the three industries to receive the most customer complaints in 2019, the Ministry of Industry and Trade has reported.

 

They accounted for 41 percent of customer complaints followed by telephone and telecommunications (19 percent) and electronics (7 percent), the Vietnam Competition Authority under the ministry said

"We notice an increasing number of online loan services companies. These models are expanding and increasing rapidly in terms of both number of customers and value of disbursements, thus leading to an increase in complaints."

The Vietnam Competition Authority said it answered 5,186 out of 9,295 calls its call center received last year, 1,422 of them being violations of consumer rights and requests to resolve them.

Around 34 percent of all complaints related to consumer information protection, mainly about businesses illegally collecting consumer information and not correcting information on customers' request, which led to continuing usage of the information, it said.

The most frequent other complaints pertained to contracts with service providers (20 percent), information provided by sellers (17 percent) and goods quantity, quality and delivery time (14 percent).

vnexpress



NEWS SAME CATEGORY

Citi Vietnam named Best Bank 2019 by the Asset Magazine

Citi Vietnam has once again won the The Asset Triple A Country Award for “Best Bank”, one of the most prestigious and very competitive recognition in the financial...

Vietnam's new consumer finance curbs to challenge business models: Fitch

Fitch Ratings believes larger, more established finance companies are better-placed to meet the new requirements while newer, smaller companies that concentrate on...

VPBank slashes lending rates for businesses affected by coronavirus

 Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) will reduce lending interest rates by up to 1.5 percentage point per year for customers affected by the...

Viet Capital Bank gets green light for 17 new branches, transaction offices

The State Bank of Vietnam has licensed Viet Capital Bank to open five branches and 12 transaction offices this year, which will take its total number of transaction...

Interest rate cuts weighed for borrowers affected by coronavirus

Vietnam’s central bank has asked commercial banks to promptly adopt measures to support their customers in the wake of the coronavirus outbreak, including...

Banks join the fight against nCoV

The State Bank of Vietnam has directed banks to extend some leeway to customers impacted by the coronavirus outbreak by providing preferential interest, on-lending...

Interest rates in Vietnam only nudged by coronavirus scare in February

Experts believe that coronavirus could impede demand for business expansion loans, which will subsequently lower the demand for bank capital. In this scenario...

Banks to provide support to customers affected by coronavirus

The State Bank of Viet Nam has asked credit institutions to prepare capital sources to meet borrowing demand and provide support to customers who have been affected...

Vietnam c.bank lends a hand to companies hurt by nCoV

Banks could consider restructure debt payment period or lower interest rates for enterprises and individual customers facing difficulties from the epidemic.

Two-thirds of Vietnamese use online credit and e-payments in 2019

Up to 64% of respondents in Vietnam applied for online credit in 2019 at least once.

Bank stocks

Insurance stocks


MOST READ


Back To Top