NCB – PRÉVOIR, A COOPERATION TO OFFER CUSTOMERS WITH FINANCIAL PRODUCTS AND UTILITY INSURANCE

Among the attendants, there were Ms. Laure Grazi (Deputy Economic Counsellor - French Embassy to Vietnam), Mr. Tran Quoc Hung (Vice Director of Supervision Department - State Bank of Hanoi), and Mr.Doan Thanh Tuan (Vice Director of Insurance Supervisory Authority Department);

Prévoir was represented by Ms. Patricia Lacoste (Chairman of the Board cum CEO of Prévoir Group), Mr. Khamsaya Soukhavong (Vice Chairman of the Board of Prévoir Vietnam), and Ms. Le Thuy Binh (GD of Prévoir Vietnam);

NCB was represented by Mr. Vu Hong Nam (Chairman of the Board of NCB), Ms. Tran Hai Anh (Vice Chairman of the Board), and Mr. Le Xuan Nghia (Member of the Board);

For long, the cooperation between financial institutions and insurance companies (Bancassurrance) has become a popular trend in the world to consolidate services and multiply benefits to customers. In recent years in Vietnam, this form of cooperation has been promoted strongly and become a strategy adopted by banks and insurance companies to develop and effectively distribute banking and insurance products/services to their partners and customers.

Grasping this trend and desiring to offer more utilities to customers, NCB and PREVOIR Vietnam have signed a cooperation agreement in which NCB shall be the exclusive bank to distribute life insurance products of PREVOIR in Vietnamese market. Through this cooperation, two parties will together offer attractive product packages with favorable interest rates and associated insurance packages to customers, as well as offer them smart solutions to make investments, optimize financial profitability, and protecting their maximum interests. Banking and insurance products and services are also provided to employees,member companies, and respective partners.

PREVOIR Vietnam is a subsidiary of Prévoir Vie group, one of leading financial and insurance groups with a history of over 100 years and a leading portfolio of life insurance, health care, and retirement insurance products in France, as well as much experience in serving investment needs and protecting individual and household customer in the world. For NCB, this is a young, dynamic, and creative bank with a 21-year history of development and a network of over 130 business units nationwide. NCB has gradually consolidated its brand position in the financial and monetary market of Vietnam and become one of the most effective retail banks in Vietnam.

With the history and experience of PREVOIR Vietnam and dynamism and professionalism of NCB, this cooperation is expected to create a new link with creative and innovative breakthroughs in Bancassurrance field in Vietnam. Also, this will facilitate conditions for NCB to promote its strengths and establish close connection with financial service providers, including insurance companies, to offer various products and services.

This is also the commitment of “friendly financial advisor” that NCB wants to demonstrate to customers and partners.

Ms. Tran Hai Anh – Vice Chairman of the Board of Directors of NCB said: “Customers of both NCB and Prévoir will be provided services to meet all of their financial, banking, and insurance needs. This cooperation will help NCB improve the rotation of customers' needs by fundamentally meeting 4 core service foundations: Loan, Transaction, Investment, and Insurance, offering the most effective and diversified solutions and financial and banking products to customers. We believe that the ongoing strong cooperation with Prévoir Vietnam will create new products and services and offer more benefits to stakeholders, optimizing each party's strengths, and enabling mutual development”.

Ms. Patricia Lacoste – Chairman of the Board cum CEO of Prévoir Group, said: “We are very happy to be able to cooperate with National Citizen Commercial Joint Stock Bank (NCB). This cooperation agreement will offer favorable conditions to help Prévoir to approach more customers via the widespread network of transaction offices of NCB in most of the provinces/cities in the country. This is consistent with the business development plan and ambition of Prévoir Vietnam after 10 years operating in insurance market of Vietnam, and it helps us provide our customers with the most suitable financial solutions to meet the needs of most Vietnamese residents”.

This is a good step and the foundation for NCB and PREVOIR Vietnam to step forward a more profound partnership in the future.