Advertisements Vietnam’s central bank says the value of cashless transactions more than doubled over the first three quarters of 2018. The Department of Payments at the State Bank of Vietnam reported a strong rise in payments over electronic channels between January and September, compared to the same period last year. Accordingly, the value of onlineContinue reading “Cashless services explode in Vietnam”
Tag Archives: banking
Tran Bac Ha, former chairman of Vietnam’s BIDV has been arrested
Advertisements The Ex-Chairman of Vietnam’s BIDV, the second largest listed bank has been arrested for alleged violations of banking regulations, the Southeast Asian country’s public security ministry said on Thursday. Tran Bac Ha, former head of the state-owned Joint Stock Commercial Bank for Investment and Development of Vietnam, or BIDV, was accused of “violating regulationsContinue reading “Tran Bac Ha, former chairman of Vietnam’s BIDV has been arrested”
VIB became the first Vietnam’s private commercial bank formally apply Basel II
Advertisements Vietnam International Bank (Upcom: VIB) has received approval from the State Bank of Vietnam (SBV) to apply capital adequacy ratio following Basel II standards. This approval followed SBV’s Circular No 41/2016/TT-NHNN on regulating capital adequacy ratio for banks, branches of foreign banks, effective from January 1, 2019. “Meeting strict Basel II standards, VIB isContinue reading “VIB became the first Vietnam’s private commercial bank formally apply Basel II”
South Korean banks race into Vietnam
Advertisements KEB Hana tipped to buy BIDV stake, while Shinhan surpasses HSBC as top foreign bank South Korean banks are scrambling to expand their presence in Vietnam, betting on the emerging country’s growth potential and its intent to loosen foreign ownership limits. According to a report on Nikkei, KEB Hana Bank, South Korea’s second-largest lenderContinue reading “South Korean banks race into Vietnam”
Prosecution begins for VND300 billion fraud at HSBC and ANZ
Advertisements HSBC and ANZ have named 13 companies of being involved in a series of frauds costing the banks VND300 billion ($13 million), leading to the prosecution of dozens of defendants and eight companies. While no wrong-doings have been identified on the part of the staff of the two banks, the court issued further investigation.Continue reading “Prosecution begins for VND300 billion fraud at HSBC and ANZ”
VPBank honored for SME services
Advertisements Bank wins “The SME Bank of the Year” from IFC. The Vietnam Prosperity Joint Stock Bank (VPBank) overcame more than 100 competitors to be named “The SME Bank of the Year” in Asia at the inaugural Global SME Finance Awards, held in conjunction with the Global SME Finance Forum and managed by the InternationalContinue reading “VPBank honored for SME services”
SBV urges customer info security
Advertisements The State Bank of Viet Nam has issued a decree asking businesses to enhance customer information privacy after an alleged breach of mobile retail chain The Gioi Di Dong (Mobile World) revealed personal information of more than five million customers. The breach hit the headlines last week after a hacker posted three files includingContinue reading “SBV urges customer info security”
Vietnam’s Agribank denies bankruptcy rumor
Advertisements The Vietnam Bank for Agriculture and Rural Development, better known as Agribank, has rejected rumor circulating in several localities in recent days that it had gone bankrupt. The rumor started to spread on Friday, when Le Bach Hong, a former Deputy Minister of Labor, War Invalids and Social Affairs and former head of VietnamContinue reading “Vietnam’s Agribank denies bankruptcy rumor”
Banks to face worker shortage in 4.0 industrial era
Advertisements More than 56 percent of banks recruited new workers in Q3, but 26.6 percent said they still lacked workers, while more than 61 percent of banks planned to recruit more workers in the fourth quarter, a report says. Vietnam will need 1.6 million new workers for the banking sector in the 2016-2020 period, according to the InternationalContinue reading “Banks to face worker shortage in 4.0 industrial era”
ANZ marks 25 years in Vietnam
Advertisements Ceremonies held in HCMC and Hanoi on to mark milestone. ANZ held ceremonies in Ho Chi Minh City on November 7 and in Hanoi on November 8 to mark its 25 years of operating in Vietnam. Mr. Farhan Faruqui, ANZ Group Executive, International, said that Vietnam is a true Asian success story, emerging fromContinue reading “ANZ marks 25 years in Vietnam”
TPBank the first to enable cardless cash withdrawals
Advertisements Withdrawals now available via QR Code. The Tien Phong Commercial Joint Stock Bank (TPBank) has become the first bank in Vietnam to allow cardless cash withdrawals using a QR Code at both its ATMs and Livebank service, according to a report from the Vietnam News Agency. The news agency quoted the bank as announcingContinue reading “TPBank the first to enable cardless cash withdrawals”
Moody’s downgrades outlook on the banking system in Vietnam to stable from positive
Advertisements Moody’s Investors Service (Moody’s) has changed its 12-18 month outlook on the banking system in Vietnam (Ba3 stable) to stable from positive. Eugene Tarzimanov, a Moody’s Vice President and Senior Credit Officer said that, the growth of economic in Vietnam will remain robust, and the banks’ asset quality will improve, helping to strengthen their profitability.Continue reading “Moody’s downgrades outlook on the banking system in Vietnam to stable from positive”
Shinhan Bank launches new mobile banking app
Advertisements App features range of safe and secure log in options. Shinhan Bank Vietnam has officially launched a new mobile banking app, SOL, with many outstanding features. Apart from regular features in any mobile banking app, such as balance checks and money transfers, SOL also has logging in by password identification and other safe and secure logContinue reading “Shinhan Bank launches new mobile banking app”
Vietnamese banks look abroad in rush for long-term capital
Advertisements Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year. According to the State Bank of Vietnam (SBV) regulations, short-term funds for medium- and long-term loans at banks will be reduced from the current 45 percent toContinue reading “Vietnamese banks look abroad in rush for long-term capital”
Vietnamese banks rush to seek foreign capital
Advertisements Commercial banks are now borrowing capital from foreign banks and financial institutions when they need more medium- and long-term capital. LienViet Post Bank on August 28 signed a contract with JP Morgan Chase Bank NA Singapore, which will provide a $50 million loan to the former for three years. LienViet Post Bank’s CEO saidContinue reading “Vietnamese banks rush to seek foreign capital”