Advertisements Based on the accusation of Nguyen Chan – husband of banking tycoon Tu Huong, his second son is withholding the mutual property of his family. On March 15, Nguyen Chan (96 years old) – husband of Tran Thi Huong (commonly known as Tu Huong, died on May 13, 2017), the founder of Nam AContinue reading “Tu Huong’s husband – banking tycoon accused his son of withholding Nam A Bank”
Tag Archives: banking
Card skimmers steal money through ATMs at night in Ho Chi Minh City
Advertisements Residents across Ho Chi Minh City are reporting unapproved ATM withdrawals from their debit accounts, a situation reminiscent of a spree of thefts in late April 2018. D.K.Tho, a local worker, told Tuoi Tre (Youth) newspaper he had VND8 million (US$344) withdrawn from his account on the night of March 10. Tho received aContinue reading “Card skimmers steal money through ATMs at night in Ho Chi Minh City”
Credit growth in the first 2 months has been only 0.77%.
Advertisements The monetary & credit market in the first 2 months of 2019 has been evaluated relatively stable. The monetary & credit market is relatively stable, up to 25 February 2019, the total means of payment increased 2.11%; capital mobilization increased 01%, credit for the economy increased 0.77% compared to the end of 2018. TheContinue reading “Credit growth in the first 2 months has been only 0.77%.”
VIB plans to reach VND3,400 billion profit before tax in 2019, up by 24% year-on-year
Advertisements Vietnam International Bank (VIB) has just released documents for Annual General Meeting 2019 (AGM), expected to be organized on March 28 in Ho Chi Minh City. 2019, VIB plans to reach VND3,400 billion profit before tax VIB has targeted its profit before tax of VND3,400 billion, increasing by 24% year-on-year. Total asset is expectedContinue reading “VIB plans to reach VND3,400 billion profit before tax in 2019, up by 24% year-on-year”
Banking, real estate sectors post high profits
Advertisements Most sectors saw profits grow last year in Vietnam, led by banking, real estate and food & beverage. The banking sector recorded the highest after tax profits of all sectors at VND68.01 trillion ($2.92 billion), up 31.3 percent over 2017, according to a recent report by the Saigon Securities Inc (SSI). It also accountedContinue reading “Banking, real estate sectors post high profits”
Moody’s: Foreign investment crucial to Vietnamese banks in 2019
Advertisements Most Vietnamese banks fall short of international capital adequacy norms and have to focus on attracting foreign capital this year, Moody’s has said. The credit rating agency said in a release Monday that “the underdevelopment of the domestic capital markets” means the banks would have to look to foreign investors to meet the capitalContinue reading “Moody’s: Foreign investment crucial to Vietnamese banks in 2019”
Standard Chartered Bank celebrates 115 years in Vietnam
Advertisements Bank remarks long journey of driving commerce and prosperity in Vietnam. The London-based international bank Standard Chartered recently kick-started celebrations of its 115th anniversary in Vietnam. The key highlight was the Standard Chartered 115th Anniversary Gala event last week. The ceremony was graced by the bank’s clients and partners and hosted by Ms. JudyContinue reading “Standard Chartered Bank celebrates 115 years in Vietnam”
Thai company eyes Agribank subsidiary
Advertisements Srisawad Corporation, a Thailand-based company in financial services, has proposed to acquire the loss-making Agribank subsidiary, Agribank Leasing Company No.1 (ALC1). In response, the State Bank of Vietnam said they were previewing the proposal and would process with it after ALC 1’s restructuring plan is approved. According to the regulations, Srisawad must prove thatContinue reading “Thai company eyes Agribank subsidiary”
Securities firms in Vietnam advised the reasons to buy VIB’s stock
Advertisements MB Securities Joint Stock Company (MBS) reiterates its buy rating and VND25,500 price target for the mid-term investment, advising clients to purchase the stock of Vietnam International Bank (VIB) ahead of its annual general shareholders meeting. Yuanta Vietnam – a sub-company of Taiwanese Yuanta Financial Holdings also release a research report on VIB’s outlook,Continue reading “Securities firms in Vietnam advised the reasons to buy VIB’s stock”
Financial Institutions Emerging Markets 2019 Outlook: Stable overall but rising rates
Advertisements Moody’s Investors Services just release a research report on the credit risks and trends in 2019 for financial institutions in emerging markets 2019 outlook. According to its summary, slower global growth, rising interest rates, trade protectionism and geopolitical tensions will pose risks for financial institutions in emerging markets throughout Asia, Latin America, Europe, the MiddleContinue reading “Financial Institutions Emerging Markets 2019 Outlook: Stable overall but rising rates”
Vietnamese bank named among the world’s 500 most valuable bank brands for 2019
Advertisements VPBank (The Vietnam Prosperity Bank) was the only private Vietnamese bank named in the list of the world’s 500 most valuable bank brands for 2019, recently announced by Brand Finance. According to the list of Brand Finance, VPBank ranked 361st on the list. State-owned VietinBank was number 242, up from the 310 in 2018.Continue reading “Vietnamese bank named among the world’s 500 most valuable bank brands for 2019”
ACB has planned to raise US$96.6m from unconvertible bond issuance
Advertisements The Vietnam’s Asia Commercial Joint Stock Bank (ACB) on Monday announced a plan to issue US$96.6 million worth of non-convertible bonds by the end of 2018. The to-be-issued 2,200 bonds would mark the bank’s second issuance round this year. VNS reports. The bonds will mature in 10 years with face value of VND1 billionContinue reading “ACB has planned to raise US$96.6m from unconvertible bond issuance”
Court commutes central bank official’s imprisonment in Vietnam’s largest ever bank scam
Advertisements A HCMC appeals court has commuted the three-jail sentence handed to a former deputy head of the central bank to a suspended sentence. Dang Thanh Binh, former deputy governor of the State Bank of Vietnam, had been found guilty of “negligence, causing serious consequences” for losses of over VND15 trillion ($653.25 million) at theContinue reading “Court commutes central bank official’s imprisonment in Vietnam’s largest ever bank scam”
CIMB Bank unveiled its first Digital Lounge in Vietnam
Advertisements CIMB Bank also launched its Octo by CIMB mobile banking app for consumers in Vietnam. Saigon (Ho Chi Minh City) to host CIMB Bank Vietnam’s first branch presence following the establishment of its headquarters in Hanoi in 2016. The launch also marks the beginning of CIMB Vietnam’s digital banking proposition, inaugurated by Octo whichContinue reading “CIMB Bank unveiled its first Digital Lounge in Vietnam”
Central bank’s exchange rate hits highest level in months
Advertisements The central bank’s daily reference exchange rate of the US dollar against the Vietnamese dong has been adjusted up slightly in recent sessions, pushing it to the highest level since early this year. On Monday, the central bank appreciated the value of the dollar against the dong by VND5 over last Friday to VND22,755Continue reading “Central bank’s exchange rate hits highest level in months”