Advertisements Commercial banks are competing fiercely with each other to disburse car loans. Both lending interest rates and car prices are at a record low. The lending interest rates offered by banks are very reasonable. ShinhanBank offers three options with interest rates of 7.5 percent for the first 12 months, 8 percent for the firstContinue reading “Banks set low lending interest rates to disburse car loans”
Tag Archives: banking
Banks cut deposit interest rates from October
Advertisements Many banks have cut deposit interest rates after the State Bank of Việt Nam (SBV) lowered the ceiling levels of interest rates from October 1. At Kienlongbank, rates are now only 3.55 per cent per year on one-month deposits, 3.75 per cent on two-month terms and 3.95 per cent on three- to five-month deposits,Continue reading “Banks cut deposit interest rates from October”
Local banks continue cutting deposit rates
Advertisements After the State Bank of Vietnam (SBV) lowered the ceiling levels of interest rates, local commercial banks have also slashed deposit rates, with those at Orient Commercial Bank (OCB), Saigon Commercial Bank (SCB) and Nam A Bank down by 0.1-0.3 percentage points. SCB has cut the rates for deposits of one to five monthsContinue reading “Local banks continue cutting deposit rates”
Investors buy real estate as bank deposit interest rates fall
Advertisements Individual investors are increasingly buying real estate bonds and land rather than depositing money in banks, which have reduced interest rates on deposits. Techcombank has again eased dong deposit interest rates by 0.1-0.4 percent. The current interest rates are 2.55-2.9 percent per annum for one-month deposits, 2.75-3.1 percent for 3-month, 4.2-4.7 percent for six-monthContinue reading “Investors buy real estate as bank deposit interest rates fall”
Bank starts measuring and disclose carbon emissions comes from its loans
Advertisements Citigroup Inc., one of the biggest lenders to energy companies, said it will measure and disclose emissions tied to its massive lending portfolio and is working to finance $250 billion of sustainable activities by 2025 after reaching an earlier goal four years ahead of schedule. The new goal includes financing or advancing initiatives suchContinue reading “Bank starts measuring and disclose carbon emissions comes from its loans”
Opportunity for digital transformation in COVID-19 pandemic time
Advertisements Since the start of the coronavirus, consumer demand for digital banking has never been greater. Unfortunately, many organizations that were delaying digital transformation efforts have been caught flat footed, without the ability to deliver a positive digital experience. The good news is that, with overall transaction volume low, the opportunity to build improved digitalContinue reading “Opportunity for digital transformation in COVID-19 pandemic time”
Deutsche Bank Vietnam, Techcombank appoint new CEOs
Advertisements Deutsche Bank Vietnam and Techcombank have appointed a Vietnamese and a foreigner respectively as their new CEOs. The Vietnamese subsidiary of Deutsche Bank has appointed Huynh Buu Quang, former CEO of Maritime Bank (MSB), as its acting CEO. The German bank is awaiting approval from the State Bank of Vietnam to finalize the appointment.Continue reading “Deutsche Bank Vietnam, Techcombank appoint new CEOs”
Deutsche Bank names Huynh Buu Quang as its Chief Country Officer Vietnam
Advertisements Deutsche Bank has a long track record in providing corporate finance and advisory solutions to Vietnamese corporates. Deutsche Bank today announced the appointment of Vietnamese banker, Huynh Buu Quang, as Acting Chief Country Officer (CCO) Vietnam. The appointment is subject to State Bank of Vietnam final approval, according to the bank’s statement. Quang hasContinue reading “Deutsche Bank names Huynh Buu Quang as its Chief Country Officer Vietnam”
Eximbank’s transaction office exposed to COVID-19 patient resumes operation
Advertisements A transaction office of lender Eximbank in Ho Chi Minh City has been allowed to reopen from Wednesday morning, ahead of its previously announced 14-day suspension due to a coronavirus patient’s visit. The Vietnam Export Import Bank (Eximbank) announced on August 3 it was suspending a transaction office located at 373 Su Van HanhContinue reading “Eximbank’s transaction office exposed to COVID-19 patient resumes operation”
Vietnamese banks continues lowering deposit rates
Advertisements Many large commercial banks have continued lowering deposit rates for various tenors aimed at reducing lending rates to support businesses and residents affected by the coronavirus pandemic in line with the directives of the prime minister and the State Bank of Vietnam. The Bank for Foreign Trade of Vietnam (Vietcombank) has cut the depositContinue reading “Vietnamese banks continues lowering deposit rates”
Grab Launches New Consumer Financial Services
Advertisements Grab announced today that its financial unit, which previously focused mainly on services for entrepreneurs and small businesses, is launching a slew of consumer products, including micro-investments, loans, health insurance and a pay-later program. Grab began in 2012 as a ride-hailing company before expanding into on-demand deliveries and other services. In January 2019, itContinue reading “Grab Launches New Consumer Financial Services”
Top banks by profits switch places due to Covid-19
Advertisements There has been a major reshuffle in profit rankings at the top of the banking industry due to the effects of the pandemic and provisioning for bad debts. While the top 10 list in terms of profits remained unchanged from last year, there were major changes in rankings. In the public sector, VietinBank reportedContinue reading “Top banks by profits switch places due to Covid-19”
VN banks still make high profits, though businesses hit hard by Covid-19
Advertisements Applying drastic measures to cut costs and ease reliance on capital sources, commercial banks continued to make profits in the first half if the year. However, they have been warned of bad debts ahead. Covid-19 has hit Vietnam’s businesses hard. As demand is weak, businesses are not borrowing capital to expand production at thisContinue reading “VN banks still make high profits, though businesses hit hard by Covid-19”
Vietnam’s Techcombank set a pre-tax profit target of US$559.3 million in 2020
Advertisements The Vietnam’s Techcombank (TCB) has set a pre-tax profit target of VND13 trillion (US$559.3 million) in 2020, increasing slightly one per cent from last year. This target was approved at its annual general meeting of shareholders (AGM) held in Hanoi on Saturday. Answering shareholders’ question about the bank’s modest profit growth goal, Ho HungContinue reading “Vietnam’s Techcombank set a pre-tax profit target of US$559.3 million in 2020”
There is always a bright side as Vietnam’s fintech boosting by COVID-19
Advertisements As a promising digital economy, Vietnam has facilitated fintech development to penetrate deeper and faster into the world’s digital economy, especially in the post-COVID-19 period. Southeast Asia is considered a great potential market for online payments, of which, Vietnam is forecast to be the third largest internet economy in the region, after Indonesia andContinue reading “There is always a bright side as Vietnam’s fintech boosting by COVID-19”