HÀ NỘI — A new regulation on banning commercial banks from selling insurance together with banking services will negatively affect banks’ bancassurance revenue in the future, some analysts have claimed. According to analysts from the MB Securities Company, with the passing of the law, bancassurance activities will be more strictly managed, which will cause the growth rate of income from bancassurance of banks to decline compared to the 2019-21 period. Sharing the same view, Yuanta Vietnam Securities Company’s analysts also believe the new regulation will greatly affect banks whose fee income mainly comes from bancassurance. In fact, revenue from selling insurance through banks (bancassurance) decreased sharply in the first nine months of 2023. At the same time, bancassurance business last year was also less positive as people's income decreased due to economic difficulties.

Source: Viet Nam News February 15, 2024 06:32 UTC