Advertisements Zalo users able to conveniently apply for consumer loans from Shinhan Bank. Shinhan Bank Vietnam has officially launched a smart consumer loan on the Zalo app. Zalo users can now easily apply for consumer loans from Shinhan Bank at an interest rate between 1.33 per cent and 2.4 per cent per month, if theyContinue reading “Shinhan Bank launches smart consumer loans on Zalo app”
Tag Archives: banking
Tax incentives can speed up cashless payment in Vietnam
Advertisements Vietnamese banks are proposing tax incentives for businesses adopting e-payments as a way to boost cashless payments. Dao Minh Tuan, deputy CEO of Vietcombank, presented this suggestion at the Vietnam Private Sector Economic Forum 2019 Thursday. He said that most businesses were reluctant to purchase point-of-sales (POS) devices or establish e-payment services with theContinue reading “Tax incentives can speed up cashless payment in Vietnam”
Public Bank eyes to expand its operations in Vietnam
Advertisements Public Bank Bhd, the third largest lender by assets in Malaysia, said it it is actively pursuing opportunities in Vietnam and Cambodia in view of the growing potential of the Indochina market. “Public Bank’s operations in Vietnam, despite still being a small contributor to the group’s profit currently, is also a key focus ofContinue reading “Public Bank eyes to expand its operations in Vietnam”
Banks report large first quarter profits
Advertisements Several commercial banks in Vietnam have reported big profits in the first quarter of this year. At the annual shareholders’ meeting, held on April 23, general director of the Vietnam Bank for Industry and Trade (VietinBank), Tran Minh Binh said that the bank made a profit of VND3.1 trillion (USD134.7 million), in the firstContinue reading “Banks report large first quarter profits”
HDBank sets profit target of USD 217 million this year
Advertisements The Ho Chi Minh City Development Bank (HDBank) plans to collect USD 217 million profit before tax this year, an increase of 27 percent compared to 2018. The information was released during its Annual General Meeting of Shareholders (AGM) on April 23rd, 2019. VNS/VNA reports. The bank forecast that total assets this year willContinue reading “HDBank sets profit target of USD 217 million this year”
Vietnam c.bank’s reference VND/USD exchange rate at all-time high
Advertisements The State Bank of Vietnam on Wednesday set the daily reference exchange rate for the dong at VND23,013 per U.S. dollar, up VND9 from the previous day and reaching the highest rate ever. With the current trading band of three percent, the ceiling rate applied by commercial banks for the day is VND23,703 toContinue reading “Vietnam c.bank’s reference VND/USD exchange rate at all-time high”
Local banks expect to get high credit growth limits with Basel II standards
Advertisements Some commercial banks expect to get high credit growth limits set by the central bank this year as they have so far met Basel II’s capital safety and risk management standards ahead of schedule. According to current regulations, the State Bank of Vietnam (SBV) sets a credit growth limit for the entire year forContinue reading “Local banks expect to get high credit growth limits with Basel II standards”
The richest billionaire families in Vietnam’s banking industry
Advertisements Techcombank (TCB) and VP Bank (VPB) are now the two biggest private banks in Vietnam, while the families of Ho Hung Anh and Ngo Chi Dung, the biggest shareholders of the banks, are the most richest families in the banking sector. Of the lists of Vietnamese stock billionaires, Ho Hung Anh, chair of Techcombank,Continue reading “The richest billionaire families in Vietnam’s banking industry”
SBV sets annual credit growth limits, 15 percent for best banks
Advertisements 2019 credit growth limit has been assigned to each commercial bank by the State Bank of Vietnam (SBV), with priority given to Vietcombank, VIB and OCB as those banks met Basel II’s capital safety and risk management standards ahead of schedule. According to a report on VNS, based on the current regulation of Vietnam,Continue reading “SBV sets annual credit growth limits, 15 percent for best banks”
Businesses borrow money from banks rather than issue bonds
Advertisements The government’s decree 163, with loosened requirements on bond issuance, is expected to encourage businesses to seek capital from bond issuance and rely less on bank loans. Finance experts have found two new regulations stipulated in the decree. Regarding the separate bond issuance, the new decree does not set a limit on the rightsContinue reading “Businesses borrow money from banks rather than issue bonds”
Foreign financial institutions set their sights on poorly-performing banks of Vietnam
Advertisements Foreign financial institutions were eyeing up poorly-performing banks in Vietnam after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the banking industry According to Mr. Nguyen Chi Hieu, a banking expert in Vietnam, M&As in the banking industry had remained quiet forContinue reading “Foreign financial institutions set their sights on poorly-performing banks of Vietnam”
Court requested to suspend the implement of changing Eximbank Chairman
Advertisements On 27th March 2019, The People’s Court of Ho Chi Minh City issued the decision No. 92/2019/QĐ-BPKCTT applying emergency measure to suspend implementation of Resolution No.112/2019/EIB/NQ-HĐQT of Eximbank’s Management Board relating to the dismissal and appointment of Eximbank’s chairman. Recently, People’s Court of Ho Chi Minh City has accepted to work on the civilContinue reading “Court requested to suspend the implement of changing Eximbank Chairman”
Nam A Bank funds for individuals, companies to buy Eximbank shares
Advertisements Several individuals and companies related to Hoan Cau Group and Nam A bank are possessing hundred million shares of Eximbank – a national bank having twice higher asset scale Nam A bank’s. Last week, Eximbank appointed Former CEO of Nam A Bank Luong Thi Cam Tu as its new Chairwoman, in place of theContinue reading “Nam A Bank funds for individuals, companies to buy Eximbank shares”
SBV is seeking opinions on draft amendment to Circular 43/2016/SBV – Stricter regulations on cash loans
Advertisements The State Bank of Vietnam (SBV) is seeking opinions on a draft amendment to Circular 43/2016/SBV (“Draft”) that directly regulates lending practices of consumer finance companies. The Draft separates indirect loan disbursement to goods or services providers and direct disbursement to borrowers. The latter category is the target of the new Draft and proposesContinue reading “SBV is seeking opinions on draft amendment to Circular 43/2016/SBV – Stricter regulations on cash loans”
Korean banks saw record earnings in Vietnam in 2018
Advertisements Twelve Korean banks see brisk earnings in Vietnam in 2018, according to data from the Financial Supervisory Service (FSS), Tuesday. The banks’ net incomes in the region more than doubled from $61 million in 2017 to $131.8 million in 2018. Koreatimes reports. Shinhan Bank Vietnam made the biggest contribution to the lenders’ overall growthContinue reading “Korean banks saw record earnings in Vietnam in 2018”