Citibank, ING lend PV Power $300 mln to develop Vietnam's first two LNG plants

Citibank, ING lend PV Power $300 mln to develop Vietnam's first two LNG plants

PetroVietnam Power (PV Power) has reached agreement for a $300 million short-term loan from the U.S.’s Citibank and the Netherlands-based bank ING for developing Vietnam’s first LNG power plants.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam plans to borrow $75 bln in 2024-2026

Vietnam plans to borrow $75 bln in 2024-2026

The Vietnamese government plans to borrow a maximum of VND1,862.2 trillion ($75 billion) in the 2024-2026 period, according to a decision signed by Deputy PM Le Minh Khai last week.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Fuel supplier NSH Petro to borrow $720 mln from Australian fund

Fuel supplier NSH Petro to borrow $720 mln from Australian fund

NSH Petro, a major fuel supplier in Vietnam’s Mekong Delta region, signed an agreement with Australia’s Acuity Funding on Tuesday under which the former will borrow $720 million from the latter.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Eximbank targets 90% rise in 2024 pre-tax profit

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

State-controlled Vietcombank reaps $1.69 bln in 2023 pre-tax profit

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

Vietnam credit growth reaches 9.87% as of mid-December

Vietnam credit growth reaches 9.87% as of mid-December

Vietnam’s credit as of December 13 had increased 9.87% compared to the end of last year, but was still some way off the 2023 target of 14%, reported the State Bank of Vietnam (SBV).

Banking & Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Zero interest rate appears as banks scramble to offer affordable loans

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

Vietnam carmaker VinFast to get $500 mln loan from US development institution

Vietnam carmaker VinFast to get $500 mln loan from US development institution

Vietnamese electric vehicle maker VinFast and the U.S. International Development Financial Corporation (DFC) have signed a letter of interest (LoI) to consider a formal application by VinFast for a $500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VPBank secures $300 mln loan from US gov’t development agency

VPBank secures $300 mln loan from US gov’t development agency

VPBank, the largest bank in Vietnam in terms of charter capital, has struck a deal on a $300 million loan from US International Development Finance Corporation (DFC), the U.S. government’s development finance institution, to ramp up its operations.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Early birds: Vietcombank, BIDV offer loans to repay debts with other banks

Early birds: Vietcombank, BIDV offer loans to repay debts with other banks

Two state-owned banks, Vietcombank and BIDV, are early birds taking advantage of loosened regulations to help businesses and individuals repay their debts with other banks.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks may cut loan interest by 2.5 percentage points in H2

Vietnam banks may cut loan interest by 2.5 percentage points in H2

Commercial banks have pledged to cut the loan interest rates by 0.2-2.5 percentage points in the second half of the year, says Vietnam's central bank.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Thailand’s Kasikornbank eyes to invest $1 bln in Vietnam till 2027

Thailand’s Kasikornbank eyes to invest $1 bln in Vietnam till 2027

Thailand's second-biggest lender Kasikornbank (KBank) aims to invest at least $1 billion in Vietnam until 2027 as part of its expansion in Southeast Asia, the bank announced Friday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Central bank halts controversial terms restricting loans

Central bank halts controversial terms restricting loans

The State Bank of Vietnam (SBV) has indefinitely withdrawn three terms from Circular 06/2023 which were deemed controversial because they further restricted access to loans.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Germany’s DEG to provide $55 mln loan to back Vietnam lender OCB’s SME portfolio

Germany’s DEG to provide $55 mln loan to back Vietnam lender OCB’s SME portfolio

DEG, the German government’s investment arm, has committed a $55 million loan for Vietnam’s Orient Commercial Joint Stock Bank, or OCB.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

JBIC, Mizuho Bank provide $41 mln loans to retailer Aeon Vietnam

JBIC, Mizuho Bank provide $41 mln loans to retailer Aeon Vietnam

Two Japanese leading lenders - the Japan Bank for International Cooperation (JBIC) and Mizuho Bank - said they are providing Aeon Vietnam with a total of $41 million in loans.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Deposit interest rates below 8% at all Vietnam banks

Deposit interest rates below 8% at all Vietnam banks

Interest rates on 12-month deposits have fallen below 8% at all commercial banks in Vietnam following Prime Minister Pham Minh Chinh’s call for lower rates on loans.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam lender SHB seeks strategic foreign investor

Vietnam lender SHB seeks strategic foreign investor

Saigon-Hanoi Bank (SHB) is seeking an optimal strategic partner towards delivering greater value to customers and shareholders, a source with knowledge of the matter told The Investor Friday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Singaporean bank loans Bamboo Capital solar subsidiary $77.5 mln

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

Deposit interest rates lowered following Vietnam central bank’s cut

Deposit interest rates lowered following Vietnam central bank’s cut

Commercial banks in Vietnam have cut their deposit interest rates by 0.3-0.7 percentage points in line with the State Bank's lowered rates.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's central bank urges further lending rate cuts

Vietnam's central bank urges further lending rate cuts

Vietnam's banking sector has reduced deposit interest rates by 1-1.2 percentage points and loan interest rates by 0.5-0.65 percentage points in the first four months of this year, but further cuts are needed.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Pawnshop loans need specific regulations to improve service

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

CIMB Bank Vietnam reports $9.3 mln post-tax loss in 2022

CIMB Bank Vietnam reports $9.3 mln post-tax loss in 2022

CIMB Bank Vietnam, part of Malaysia-headquartered CIMB bank, recorded a post-tax loss of VND271.78 billion ($9.27 million) last year, worse than the VND209.93 billion ($8.93 million) in 2021, according to the bank’s financial statements.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

IFC’s $120 mln investment in Vietnam lender SHB to widen SME loans

IFC’s $120 mln investment in Vietnam lender SHB to widen SME loans

International Finance Corporation, the World Bank’s investment arm, has decided to invest $120 million into Saigon-Hanoi Bank (SHB) to help the Vietnamese lender expand financial access for small and medium enterprises.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Standard Chartered, accounting software firm Misa join hands to finance SMEs

Standard Chartered, accounting software firm Misa join hands to finance SMEs

Standard Chartered Vietnam and MISA JSC, the provider of accounting software Misa, launched a strategic partnership on Friday to offer unsecured invoice financing facilities to small- and medium-sized enterprises (SMEs) in Vietnam.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s biggest waste-to-power plant secures $160 mln syndicated loan

Vietnam’s biggest waste-to-power plant secures $160 mln syndicated loan

Germany’s Deutsche Bank has arranged a $160 million syndicated loan for Vietnam's largest operating waste incineration plant, located in Hanoi.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

IFC okays new $100 mln funding for VIB’s housing portfolio

IFC okays new $100 mln funding for VIB’s housing portfolio

The World Bank’s investment arm IFC has approved a proposed investment of $100 million into VIB to further fuel the Vietnamese private bank’s housing portfolio, following a similar $150 million loan last year for the same purpose.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Leading Vietnamese retail bank VIB assures loan security: chairman

Leading Vietnamese retail bank VIB assures loan security: chairman

Vietnam International Bank (VIB), one of the country’s major retail banks, provides secure loans despite domestic and global headwinds, and will beef up its charter capital to further drive its strong growth, chairman Dang Khac Vy said Wednesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

OPEC Fund’s $40 mln loan for Maritime Bank to support SMEs

OPEC Fund’s $40 mln loan for Maritime Bank to support SMEs

The OPEC Fund for International Development (OFID) is providing a $40 million loan to Vietnam's Maritime Bank for on-lending to small and medium-sized enterprises.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam textile firm Unitex secures $52.5 mln loan from 5 foreign banks

Vietnam textile firm Unitex secures $52.5 mln loan from 5 foreign banks

Unitex Corporation, a subsidiary of local textile firm Century Synthetic Fiber Corp, has secured a $52.5 million loan from five leading Asian banks to expand one of its factories.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Consumer finance firm F88, Kasikornbank HCMC launch strategic partnership

Consumer finance firm F88, Kasikornbank HCMC launch strategic partnership

The Ho Chi Minh City Branch of Thailand’s Kasikornbank has embarked on a strategic cooperation partnership with Vietnamese financial services company F88 to tap unbanked and underserved people in the Vietnamese market.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Novaland asks for government support to help realty market recover

Novaland asks for government support to help realty market recover

Leading Vietnamese property developer Novaland on Friday asked the government for a supportive mechanism to help the ailing real estate sector deal with current market woes, including a credit crunch and legal procedures.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Swiss fund BlueOrchard invests $20 mln in Nam A Bank to support SMEs

Swiss fund BlueOrchard invests $20 mln in Nam A Bank to support SMEs

BlueOrchard Finance, a Swiss global asset manager in impact investing, has agreed a $20 million loan for Nam A Bank to help the Vietnamese lender provide credit for small- and medium-sized enterprises (SMEs) in the country.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

IFC approves $100 mln loan to enhance SeABank housing loans

IFC approves $100 mln loan to enhance SeABank housing loans

The World Bank’s investment arm IFC has agreed a $100 million senior loan with five years in tenor to SeABank, with the proceeds to be exclusively used for the Vietnamese lender’s housing portfolio, including affordable housing.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

ADB agrees $107 mln loan for Vietnam’s BIM Wind

ADB agrees $107 mln loan for Vietnam’s BIM Wind

The Asian Development Bank (ADB) has signed a $107 million loan for BIM Wind Power JSC’s 88-megawatt wind farm in Ninh Thuan province on Vietnam’s south-central coast.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Banks to cut loan interest rates to improve liquidity

Banks to cut loan interest rates to improve liquidity

Sixteen banks in Vietnam have committed to reducing their loan interest rates by 0.5-3.5 percentage points to below 9.5% per annum to help improve the Vietnamese banking system's liquidity.

Banking & Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7