Advertisements Vietnam’s central bank said on Friday it would cut several interest rates to support economic growth and control inflation. The annual refinancing rate, rediscount rate, overnight electronic interbank rate, and rate of loans to offset capital shortage in clearance between the central bank and domestic banks, would be cut by 0.25 percentage points eachContinue reading “Vietnam’s central bank cuts official interest rates”
Tag Archives: banking
BIDV to use Surecomp’s trade finance solutions
Advertisements Trade finance fintech Surecomp has entered into an agreement with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to implement Surecomp’s DOKA-NG and allNETT solutions for the bank. DOKA-NG and allNETT will serve as end-to-end trade finance solutions, helping BIDV with its ongoing digitalization plans. IBS reports. “We are delighted toContinue reading “BIDV to use Surecomp’s trade finance solutions”
Banks’ profit growth forecast to slow in 2019
Advertisements Profit growth of Vietnamese banks in 2019 is forecast to be lower than last year, but experts say this should not be cause for concern. Analysts from the Viet Dragon Securities Company (VDSC) say despite the dip compared to 2018, results are still positive. In a banking industry report released recently, analysts attributed theContinue reading “Banks’ profit growth forecast to slow in 2019”
ADB names VIB “Leading SME Trade Bank” in Vietnam
Advertisements Vietnam International Bank (VIB) has been named “Leading SME Trade Bank”” in Vietnam by Asian Development Bank (ADB). This is a prestigious award honoring partner banks of the ADB’s Trade Finance Program with outstanding achievements are . The award ceremony took place on September 3, 2019 in Singapore, as the only awards and dinnerContinue reading “ADB names VIB “Leading SME Trade Bank” in Vietnam”
Techcombank to issue bonds worth $430 mln
Advertisements Techcombank plans to issue VND10 trillion ($430 million) in bonds through two private placements before the end of this year. The bonds will have a maturity date of up to three years with a par value of VND1 billion ($43,000) or a multiple of VND100,000 ($4.3), the bank said in a statement. The interestContinue reading “Techcombank to issue bonds worth $430 mln”
Flywire and Vietnam’s VPBank partner on international tuition payments for students
Advertisements New partnership will simplify international tuition payments for Vietnamese students. Working together the companies are addressing the unique requirements and nuances of the Vietnamese market and ensuring compliance with local regulations while offering students and their families greater convenience and choice. By partnering with VPBank, Flywire enables Vietnamese students to make their international tuitionContinue reading “Flywire and Vietnam’s VPBank partner on international tuition payments for students”
Enjoy unlimited cash back and transaction security with VIB international card
Advertisements Vietnam International Bank (VIB) just upgraded its international debit card (IDC) to include the first comprehensive protection applied to this card in Vietnam, consisting of ATM protection and e-commerce purchase protection, along with attractive and unlimited cash back, up to 2% for all transactions. Talking about IDC’s upgrading, Ms Nguyen Mong Tuong, Head ofContinue reading “Enjoy unlimited cash back and transaction security with VIB international card”
Vietcombank in Forbes’ top 50 listed Vietnamese companies
Advertisements The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has entered Vietnam’s 50 best listed companies in 2019 by Forbes Magazine for the seven consecutive years. Honoured companies this year were rated on the basis of compound annual growth, profit, return on equity, earnings per share growth between 2013 and 2018, branding,Continue reading “Vietcombank in Forbes’ top 50 listed Vietnamese companies”
Banks raise certificates of deposit rates to more than 10%
Advertisements Banks have increased their interest rates on certificates of deposit (CDs), bringing them in excess of 10 per cent per year with the aim of mobilising long-term capital. Bản Việt Bank recently announced it was issuing long-term CDs with record high interest rates. Specifically, an interest rate of 10.2 per cent per year isContinue reading “Banks raise certificates of deposit rates to more than 10%”
Shinhan Bank opens 4 new branches
Advertisements New branches structured for operations as a multi-function bank. Shinhan Bank Vietnam recently opened four new branches and transaction offices in Hanoi, Da Nang, Hai Phong, and Binh Duong. The Da Nang branch is Shinhan Bank’s first in the central region, after focusing on the country’s north and south. The openings complete its goalContinue reading “Shinhan Bank opens 4 new branches”
Shinhan Bank opens four additional branches in Vietnam
Advertisements Shinhan Bank has become the largest foreign bank operating in Vietnam by setting up 36 branches across the country. Shinhan Bank announced on Aug. 16 that its subsidiary in Vietnam has opened four additional branches in Vietnam, one each in Da Nang, Hanoi, Haiphong and Binh Duong Province. Business Korea News Portal reports. Related:Continue reading “Shinhan Bank opens four additional branches in Vietnam”
Executive interview: TPBank’s CEO and the key to a successful digital transformation
Advertisements Almost every advancement forward in the banking industry today is technology-based. Most analyses of banking trends do focus on what technology will bring to the banking industry. Most financial institutions in Vietnam understand the major trends that are impacting the banking industry as well as what needs to be done to respond to thoseContinue reading “Executive interview: TPBank’s CEO and the key to a successful digital transformation”
Many Vietnam’s banks achieved half year’s profit target
Advertisements Twelve out of the 25 commercial banks in Vietnam have announced half-year financial reports achieved more than 50 per cent of the annual profit target within the first half of this year. They are Vietcombank, VIB, TPBank, Sacombank, VietinBank, ACB, SHB, LienVietPostBank, NamABank, SeABank, VietBank, and Saigonbank. VOV reports. In total, the 25 banksContinue reading “Many Vietnam’s banks achieved half year’s profit target”
Thousands of Vietnamese bank’s employees ‘quit’
Advertisements In addition to fluctuating business performance, 2019’s first half also saw staff fleeing banks by the thousands. In the first half, six out of 20 banks reported pre-tax profit falling on-year. The banks include Eximbank, SCB, VietABank, VietcapitalBank, OCB, and VPBank. Van Anh reports on VIR. Related: BIDV, Vietcombank, and Vietinbank keep shouldering hundreds ofContinue reading “Thousands of Vietnamese bank’s employees ‘quit’”
Bad debts on the rise in H1 2019
Advertisements Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments. Latest financial statements of 21 banks showed their total non-performing loans (NPLs) rose by nearly VNĐ7 trillion (US$300.4 million) against the beginning of thisContinue reading “Bad debts on the rise in H1 2019”