Asia Commercial Joint Stock Bank (ACB
) has officially announced that it will resume its gold bullion trading activities starting October 10.
The bank will become the first in Việt Nam to issue its own branded gold bullion, in addition to trading the State-issued SJC gold.
This decision comes as other banks are reportedly preparing to reenter the bullion market.
According to the official announcement,
ACB has released terms and conditions for gold bullion transactions, which will take effect on October 10. Trading will be conducted at select designated branches.
Products available for trading include
ACB-branded gold bullion, SJC gold bars and other gold types as stipulated by the bank.
Payments must be made in Vietnamese đồng via accounts held at
ACB. Payment and gold delivery will occur on the same day or within a maximum of two business days.
The bank noted that individual customers must present valid personal identification, while institutional buyers are required to have a gold bullion trading licence issued by the State Bank of Vietnam (SBV). Buyers may request invoices from the bank, and must also issue invoices when selling gold back to
ACB.
The bank reserves the right to inspect the quality of gold and charge fees related to packaging and processing. The price listings published on its website and the
ACB One mobile app are for reference only. Official prices will be applied at the transaction counter at the time of sale or purchase.
ACB’s return to the gold market comes at a time when significant policy changes are reshaping the industry. At a recent meeting with the SBV, a representative from Vietnam Technological and Commercial Joint Stock Bank (Techcombank) also shared the bank’s plans to reenter this market.
Techcombank’s plan includes seeking international partners for gold importation, exploring the production of its own branded gold bullion and preparing the necessary infrastructure such as personnel, storage facilities and distribution systems.
In addition to traditional in-branch transactions, the bank also aims to develop a digital platform to enable customers to buy and sell gold online. — VNS
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