Advertisements After two months postponing the increase in service fees for ATM cash withdrawals as required by the central bank, some commercial banks have now resumed the plan, announcing that a new service fee framework will apply from the middle of this month. Three big banks Vietinbank, Vietcombank and BIDV will officially increase service feesContinue reading “Banks to hike service fees this month”
Tag Archives: banking
Two hacked customers lose VND200 million in DongA Bank overnight
Advertisements Two DongA Bank cardholders confirmed that they are still holding their ATM cards and have never given them to anyone, but VND201 million ($8,855) was stolen from their accounts in the middle of the night. Nguyen Thi Phuong Thuy (District 12, Ho Chi Minh City) is a client of DongA Bank who had VND86Continue reading “Two hacked customers lose VND200 million in DongA Bank overnight”
PG Bank skips 2017 dividend
Advertisements PG Bank had to set aside a provision of VND383 billion ($17 million) in 2017 so its profit was not enough to pay dividends. Will the merger with HDBank improve the business activities of PG Bank? According to PG Bank’s report on its general shareholders’ meeting, the total assets of the bank in 2017Continue reading “PG Bank skips 2017 dividend”
TPBank earns US$97mn by issuing private shares
Advertisements Tiên Phong Commercial Joint Stock Bank (TPBank, stock code TPB) has completed the private sale of 87.63 million shares to more than 20 investors, earning nearly VNĐ2.2 trillion (US$96.5 million). In a filing to Ho Chi Minh Stock Exchange on June 18, the bank said 100 per cent of its shares were sold toContinue reading “TPBank earns US$97mn by issuing private shares”
Moody’s Assigns Counterparty Risk Ratings to 16 Vietnamese Banks
Advertisements Moody’s Investors Service has today assigned Counterparty Risk Ratings (CRRs) to 16 rated banks in Vietnam. The banks affected are: 1) An Binh Commercial Joint Stock Bank (ABB), 2) Asia Commercial Bank (ACB), 3) Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), 4) JSC Bank for Foreign Trade of Vietnam (Vietcombank), 5)Continue reading “Moody’s Assigns Counterparty Risk Ratings to 16 Vietnamese Banks”
Tighter rules for banks
Advertisements The State Bank of Việt Nam (SBV) has decided to push ahead with restructuring the banking system, applying stricter measures to effectively prevent cross-ownership at commercial banks. The SBV recently announced it is drafting a circular in a move to discourage cross-ownership among banks and encourage transparency in the capital contribution sources of shareholders.Continue reading “Tighter rules for banks”
72% of fintech firms expect partnership with banks
Advertisements “72% of fintech firms choose to cooperate with commercial banks in providing products and services instead of direct competition”, said Le Anh Dung from the Payments Department under the State Bank of Vietnam (SBV). Dung made the remarks at the national conference, entitled ‘Industry 4.0 and innovations in the financial-banking sector”, held in Hanoi, onContinue reading “72% of fintech firms expect partnership with banks”
Eximbank brings in key personnel to tackle series of fraud scandals
Advertisements Within two months, Eximbank has appointed two deputy general directors after firing nine. Will this move enable Eximbank to overcome the scandals of swindling approximately VND300 billion ($13.2 million) from customers? Eximbank (Vietnam Commercial Joint Stock Export Import Bank) has just announced the appointment of Nguyen Huong Minh as deputy general director in chargeContinue reading “Eximbank brings in key personnel to tackle series of fraud scandals”
Vietnam banker gets $937 million fine, 30-year jail term for embezzlement
Advertisements A court in Vietnam has sentenced a former banking executive to 30 years in prison and ordered that she pay more than US$700 million (S$936.5 million) in damages caused at a domestic bank, state media reported on Friday (June 1). Hua Thi Phan, 71, embezzled US$278 million from the Vietnam Construction Bank, formerly knownContinue reading “Vietnam banker gets $937 million fine, 30-year jail term for embezzlement”
Samsung Pay Expands Partnership With Banks: Customers Win
Advertisements The increasing expansion of bank partnership networks is helping Samsung Pay create more positive transformations in Viet Nam’s mobile payment market. One solution across domestic banks and international financial partners Recently, Samsung has announced three brand new features on Samsung Pay: availability of the service on Gear S3, ATM cash withdrawals, and a LoyaltyContinue reading “Samsung Pay Expands Partnership With Banks: Customers Win”
Banks raise fees, e-wallet to be preferred
Advertisements While numerous banks raise service fees on online and mobile banking as well as ATM withdrawals, more and more people choose e-wallet apps for comfort and freedom. Nguyen Dong (Nha Be district, Ho Chi Minh City) said he uses e-wallet MoMo to pay online for utilities, internet, and his mobile phone bills every month.Continue reading “Banks raise fees, e-wallet to be preferred”
Banks tighten real estate loans amid land fever in Vietnam
Advertisements Mortgage rates have increased 1-2 percentage points over the past few months. Many lenders have recently increased interest rates and tightened lending for real estate loans due to concerns about bad debts amid land fever in Vietnam. They have increased mortgage rates by 1-2 percentage points over the past few months. Viecombank and OCB,Continue reading “Banks tighten real estate loans amid land fever in Vietnam”
HDBank offers loans at 6 per cent
Advertisements The HCM City Development Joint Stock Commercial Bank (HDBank) is offering an attractive credit package with 6 per cent interest for the first two months or 8.5 per cent for the first six months for doing business and agriculture. The rates will be applicable only for loans approved by June 30 and disbursed byContinue reading “HDBank offers loans at 6 per cent”
More fraudulent banking websites detected
Advertisements Several banks in Vietnam have warned customers about the danger of losing their bank accounts when logging into fake banking websites. According to the latest report from Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), the bank has found many links imitating the bank’s official site such as mail.www-vietcombank.com.vn; www-vietcombank.com.vn; http://www.www-vietcombank.com.vn. TheContinue reading “More fraudulent banking websites detected”
Agribank to increase service fees after account hacking
Advertisements After 12 accounts have been compromised and withdrawn money from in late April, Agribank has just announced to increase service fees, aiming to upgrade its banking system, especially at ATM machines. Security remains a primary concern at Agribank, especially after 12 accounts were hacked to withdraw money at late night on April 25, causingContinue reading “Agribank to increase service fees after account hacking”