Techcombank plans 10% stake issue to foreign strategic investors
Major Vietnamese private lender Techcombank plans to issue a 10% stake to overseas strategic investors, given its current self-capped foreign ownership of 22%, said chairman Ho Hung Anh.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam deposit interest rates pick up after year in hibernation
Banks in Vietnam have been raising deposit interest rates since the end of March, and experts believe that rates will continue to climb for the rest of the year, given improved economic performance and stabilized inflation.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
ABBank targets $42 mln in pre-tax profit, to go public in 5 years
An Binh Commercial Joint Stock Bank (ABBank) has targeted pre-tax profits of VND1 trillion ($41.6 million) this year, up 94.5% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
No cronyism in lending, PM tells credit institutions
Credit institutions are strictly prohibited from granting preferential loans to their leaders, executives and related persons as well as “backyard” businesses, Prime Minister Pham Minh Chinh said Tuesday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam faces capital redundancy amidst complex global situation: Agribank chairman
The international situation remains complicated in 2024, negatively impacting business activities of Vietnamese enterprises, especially banks, said chairman of wholly state-owned Agribank Pham Duc An.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam lending rates fall faster than deposit rates
Average lending interest rates in Vietnam tended to fall faster than those on deposits, with respective drops of 0.25% and 0.15% as of January 31 compared to the end of 2023.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam begins 2024 with 0.6% credit growth fall
Credit growth of Vietnam’s banking system dropped 0.6% in January over end-2023, according to the State Bank of Vietnam (SBV), the nation’s central bank.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Lend more, promote growth, Vietnam central bank tells commercial banks
The State Bank of Vietnam (SBV) has asked commercial banks to take measures to boost credit growth in the first months of 2024 and contribute to promoting economic growth.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks thirsty for medium- and long-term capital
Vietnamese banks are holding abundant short-term liquidity, but they still need medium- and long-term capital sources to boost credit growth.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Securities companies up bank borrowings with low interest rates
With lower interest rates, many securities companies in Vietnam have increased bank loans to finance margin lending and investment activities.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Eximbank targets 90% rise in 2024 pre-tax profit
Private Vietnamese lender Eximbank has set a pre-tax profit target of VND5.18 trillion ($210.8 million) for 2024, an increase of 90.5% from last year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Institutional shareholders holding over 10% stake in seven Vietnam banks
Vietnam has seven banks with institutional shareholders holding more than 10% of charter capital, according to banks’ 2022 and H1/2023 governance reports.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
State-controlled Vietcombank reaps $1.69 bln in 2023 pre-tax profit
Vietcombank, the largest Vietnamese lender by market capitalization, saw its 2023 pre-tax profit expand 10.2% year-on-year to VND41.2 trillion ($1.69 billion), exceeding the yearly plan by 0.3%, according to the lender’s estimates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Excessive money supply may put economy into recession: expert
Monetary policy is not a magic wand and excessive money supply does not necessarily promote growth. Instead it can cause high inflation or put the economy into a recession and liquidity trap when demand is weak, writes Assoc. Prof. Dr. Nguyen Huu Huan from the University of Economics Ho Chi Minh City.
Opinion - Mon, Dec 22, 2021 | 11:30 am GMT+7
Zero interest rate appears as banks scramble to offer affordable loans
Vietnamese banks are racing to offer loan packages with preferential interest rates from only 3%, and even interest-free for the first month.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central bank must ensure sufficient credit for economy: Vietnam PM
The State Bank of Vietnam (SBV) must ensure sufficient provision of credit for the economy and the safety of the credit institution system, while avoiding congestion in capital flows, said Prime Minister Pham Minh Chinh.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank to further facilitate real estate credit access
The State Bank of Vietnam (SBV) will continue to implement measures to increase credit access for the ailing real estate market, Governor Nguyen Thi Hong said at a conference Monday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Agribank actively implements 5 preferential credit programs
So far this year, state-owned Agribank has been actively implementing five preferential credit programs for businesses, per the Prime Minister's request to improve firms' access to credit to boost production and state budget revenue.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks see mixed profit results in Q3
Vietnamese banks saw a strong divergence in third-quarter profits, with many reporting growth thanks to a sharp reduction in credit risk provisioning costs.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam credit growth slow despite rates back to pre-pandemic levels
Lending interest rates have returned to pre-pandemic levels, but Vietnam’s credit has still expanded slowly at only 7.1% so far this year, said State Bank of Vietnam (SBV) Governor Nguyen Thi Hong.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Agribank's commitment to green credit development strategy
As a pivotal institution providing capital and financial services to the agriculture and rural sectors, Agribank is resolute in spearheading the realization of the government's directives on fostering green credit growth, managing environmental and social risks in credit operations, and striving to lay the groundwork for secure agriculture and sustainable development.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Commercial banks to continue loan rate cuts: central bank
Vietnamese banks have reduced loan interest rates by 1.5-2 percentage points from end-2022, exceeding the initially-expected decrease of 1.5 percentage points, and the trend is likely to continue.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Rule on banks using maximum 30% of short-term funds for long-term loans should be scrapped: property association
A regulation that limits credit institutions to using a maximum of 30% of short-term funds for medium and long-term loans, effective from October 1, 2023, should not be applied at present, said the Ho Chi Minh City Real Estate Association (HoREA).
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s best scenario GDP growth not more than 6% this year: minister
Despite ongoing efforts to accelerate public investment disbursement and other measures, Vietnam’s economic growth is unlikely to exceed 6% this year, according to the Ministry of Planning and Investment.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank to control credit in high-risk areas
The State Bank of Vietnam (SBV) will continue implementing solutions to control credit heading into high-risk areas, including speculative real estate areas, the high-end real estate segment with excess supply, securities and corporate bonds.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank issues $411 mln of treasury bills
The State Bank of Vietnam (SBV) said on Thursday it had issued nearly VND10 trillion ($411 million) of treasury bills via auction with the winning interest rate of 0.69% per year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Sacombank violates rules in granting loans to 16 clients: inspectors
Vietnamese private lender Sacombank commited violations in granting loans worth VND15.22 trillion ($642.38 million) to 16 customers as of August 31, 2018, government inspectors say.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Sacombank, Techcombank violate credit supply rules: gov’t inspectors
Several Vietnamese private banks such as Sacombank, Techcombank, VietABank, National Citizen Bank (NCB) and Bac A Bank violated credit supply regulations in the 2013-2017 period, according to the Government Inspectorate.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam seeks to enhance credit growth as H1 tally falls short at 3.36%
Vietnam needs to lift credit growth in the second half of this year after the first half’s growth fell below expectations, State Bank of Vietnam Deputy Governor Dao Minh Tu said on Wednesday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Singaporean bank loans Bamboo Capital solar subsidiary $77.5 mln
BCG Gaia JSC, a subsidiary of Bamboo Capital Group, has received a VND1.83 trillion ($77.5 million) loan from DBS Bank Ltd (DBS) of Singapore.
Bamboo Capital - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam PM demands further interest rate cuts to improve access to credit
Prime Minister Pham Minh Chinh has requested the State Bank of Vietnam to continue instructing commercial banks to further cut lending rates to help ease the current credit crunch in the country's slowing economy.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam set to be 10th largest consumer market by 2030: HSBC
Vietnam is poised to become the world's 10th largest consumer market by 2030, bigger than Germany and Britain, according to HSBC Vietnam.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
The Investor to hold bad debt workshop on Wednesday
The Investor will organize a non-performing loan (NPL) workshop in Hanoi on Wednesday to help improve amendments to the current Law on Credit Institutions.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banking system needs strong reforms: expert
The Vietnamese banking system must be reformed in a comprehensive and substantive manner in order to unleash credit and other capital sources for the economy, said banking expert Dr. Nguyen Tri Hieu.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Pawnshop loans need specific regulations to improve service
Vietnam's pawnshop loan market holds huge potential, but there are too many legal grey areas, including rules on fees, lending rates, and debt collection, according to experts.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
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