Nam A Bank becomes 18th lender listed on Vietnam’s main bourse

Nam A Bank becomes 18th lender listed on Vietnam’s main bourse

Nam A Commercial Joint Stock Bank (Nam A Bank) on Friday debuted 1.06 billion shares on the Ho Chi Minh Stock Exchange (HoSE), becoming the 18th bank to be traded on Vietnam’s main bourse.

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

Vietnamese ride-hailing firm Be secures $30 mln from local broker VPBank Securities

Vietnamese ride-hailing firm Be secures $30 mln from local broker VPBank Securities

Vietnamese ride-hailing firm Be Group, a rival of market leaders Grab and Gojek, has secured an investment of VND739.5 billion ($30.3 million) from VPBank Securities.

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

2023: energy, electronics sectors shine bright as Vietnam attracts huge foreign investments

2023: energy, electronics sectors shine bright as Vietnam attracts huge foreign investments

Energy and electronics sectors hogged the limelight as registered foreign direct investment (FDI) in Vietnam reached $36.6 billion this year through December 20, up 32.1% year-on-year.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Client deposits at credit institutions in Vietnam reached a record high of VND12,680 trillion (circa $522 billion) as of end-September, rising 7.28% from end-2022, data from the central bank showed.

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

Vietnam association of foreign firms, Hai Phong authorities hold tax dialogue for companies

Vietnam association of foreign firms, Hai Phong authorities hold tax dialogue for companies

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and Hai Phong's tax authorities co-hosted a conference in the northern city on Wednesday to answer businesses' tax-related enquiries.

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

SMBC to earn $48.6 mln dividend from VPBank weeks after becoming strategic investor

SMBC to earn $48.6 mln dividend from VPBank weeks after becoming strategic investor

Sumitomo Mitsui Banking Corporation (SMBC), the second-largest bank in Japan by total assets, will receive VND1.19 trillion ($48.6 million) worth of dividend from privately-run VPBank just weeks after becoming a strategic investor.

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

Vietnam collects less corporate income tax in 2022 from top 1,000 firms

Vietnam collects less corporate income tax in 2022 from top 1,000 firms

Corporate income tax (CIT) paid by the 1,000 biggest taxpayers in Vietnam in 2022 fell 14.9% from that in 2021, the General Department of Taxation has said.

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

SMBC finalizes $1.5-bln M&A deal with Vietnam's largest lender by charter capital VPBank

SMBC finalizes $1.5-bln M&A deal with Vietnam's largest lender by charter capital VPBank

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has completed acquisition of a 15% stake worth $1.5 billion of Hanoi-based VPBank, making it the largest M&A deal in the Vietnamese banking system so far.

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

DFC keen on rare earths-linked investment in Vietnam

DFC keen on rare earths-linked investment in Vietnam

The U.S. International Development Finance Corporation (DFC) is not a newcomer to Vietnam, and made headlines during President Biden’s visit to Hanoi last month with two deals totaling $400 million. In an interview, DFC spokesperson Pooja Jhunjhunwala shared the views on the institution’s priority areas in Vietnam such as rare earths, infrastructure and energy and how investment can advance reforms.

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

Mega business deals signed between Vietnam, US during Biden’s visit

Mega business deals signed between Vietnam, US during Biden’s visit

Businesses from Vietnam and the U.S. signed deals and announced investments worth billions of USD during U.S. President Joe Biden’s visit to Vietnam on September 10-11.

Industries - 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

Major private lender VPBank to raise foreign ownership limit to 30%

Major private lender VPBank to raise foreign ownership limit to 30%

VPBank, Vietnam’s biggest lender in terms of charter capital, will increase its foreign ownership limit to 30%, from 17.642% at end-2022.

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

Thailand's KBank explores major Vietnam acquisition deal

Thailand's KBank explores major Vietnam acquisition deal

Thailand's second-biggest lender Kasikornbank said Wednesday it is exploring an acquisition deal in Vietnam but that it is still not the time to announce the result if any.

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

Dragon Capital’s largest fund reports high cash holdings

Dragon Capital’s largest fund reports high cash holdings

Vietnam Enterprise Investments Limited (VEIL), Dragon Capital’s largest fund, has reported a 7.34% cash-to-asset ratio, or $140 million, the highest since November 10, 2022.

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

Six lenders join Apple Pay launch in Vietnam

Six lenders join Apple Pay launch in Vietnam

Six Vietnamese banks have joined the Vietnam list of lenders supporting Apple Pay of Apple as the American tech giant launched the payment service in the country on Tuesday.

Finance - 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

Central bank okays Vietcombank hiking charter capital to $2.4 bln

Central bank okays Vietcombank hiking charter capital to $2.4 bln

Vietnam's central bank has allowed the state-controlled Vietcombank to raise its charter capital from VND47.33 trillion to VND55.89 trillion ($2.38 billion).

Banking - 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

FE Credit appoints new acting general director

FE Credit appoints new acting general director

FE Credit, a leading consumer finance company in Vietnam, has announced the appointment of Nguyen Thi Minh Nguyet as acting general director from May 4, replacing Kalidas Ghose.

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

ADB provides loans, grants of $785 mln to Vietnam in 2022

ADB provides loans, grants of $785 mln to Vietnam in 2022

The Asian Development Bank (ADB) provided loans and grants of $785.4 million to Vietnam last year, according to the bank’s annual report 2022.

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

VPBank receives 10% deposit from Japan’s SMBC

VPBank receives 10% deposit from Japan’s SMBC

VPBank, Vietnam’s largest bank by charter capital, has received a 10% deposit from Sumitomo Mitsui Banking Corp. (SMBC) in a deal to sell its 15% stake to the Japanese major bank, said VPBank chairman Ngo Chi Dung.

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

Japanese banks pump vast capital into Vietnam market

Japanese banks pump vast capital into Vietnam market

Japanese banks, both mega and smaller, have been channeling more investment into Vietnam, one of the world’s fastest expanding economies.

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

VPBank, Amazon Web Services partner up on digitalization drive

VPBank, Amazon Web Services partner up on digitalization drive

VPBank and global tech giant Amazon Web Services (AWS) signed a digital transformation deal on Tuesday to elevate customer experience.

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

SMBC acquires 15% stake in Vietnam’s VPBank for $1.5 bln

SMBC acquires 15% stake in Vietnam’s VPBank for $1.5 bln

Vietnamese lender VPBank signed a deal on Monday to sell a 15% stake to Japan’s Sumitomo Mitsui Banking Corp. (SMBC) for about $1.5 billion through a private placement.

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

VPBank nears 15% stake sale to Sumitomo Mitsui

VPBank nears 15% stake sale to Sumitomo Mitsui

VPBank, Vietnam's largest private bank by chartered capital, is in the final stages of a deal to sell a 15% stake to Japan’s Sumitomo Mitsui Financial Group Inc. (SMFG) for about $1.4 billion, according to Bloomberg.

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

Six Vietnam banks post near $1 bln profit in 2022

Six Vietnam banks post near $1 bln profit in 2022

Vietcombank and Techcombank earned a profit of over $1 billion in 2022, while the figure for BIDV, VietinBank, Agribank and VPBank was close to $1 billion.

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

Central bank may lift foreign ownership limit at three banks

Central bank may lift foreign ownership limit at three banks

The State Bank of Vietnam is mulling over lifting the foreign ownership limit at HDBank, MBBank and VPBank, said brokerage house Yuanta Securities Vietnam.

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

Banks tipped to record 14% growth in 2023 profit: top broker

Banks tipped to record 14% growth in 2023 profit: top broker

The banking sector is forecast to earn pre-tax profits of VND248.57 trillion ($10.6 billion) in 2023, up 13.7% year-on-year, according to SSI Securities.

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

Deposit interest rates drop below 9.5% per central bank prompt

Deposit interest rates drop below 9.5% per central bank prompt

Vietnamese commercial banks have reduced their deposit interest rates en masse below 9.5% per year after the State Bank of Vietnam (SBV) said it would restrain credit institutions and branches of foreign banks with hiked interest rates.

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

VPBank becomes Vietnam’s largest bank by charter capital

VPBank becomes Vietnam’s largest bank by charter capital

VPBank has topped Vietnam's banking system in terms of charter capital after expanding it by 50% to VND67,434 billion ($2.83 billion).

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

Large offshore loans fuel Vietnamese banks, firms

Large offshore loans fuel Vietnamese banks, firms

Major international financial institutions have been providing several Vietnamese banks and companies with large loans to bolster their growth.

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

ADB, VPBank sign $500 mln social loan package for women-owned SMEs in Vietnam

ADB, VPBank sign $500 mln social loan package for women-owned SMEs in Vietnam

The Asian Development Bank (ADB) and VPBank signed Friday a loan package of up to $500 million to expand access to finance for women-owned small and medium-sized enterprises (WSMEs) and social loan projects in Vietnam.

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

IMS, OPES partner in Vietnam mobile telematics insurance

IMS, OPES partner in Vietnam mobile telematics insurance

Britain-based IMS, a connected insurance solutions business, has teamed up with Vietnamese company OPES to supply smartphone app-based telematics insurance to car drivers in Vietnam.

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

National broadcaster acquires World Cup rights with corporate sponsorship

National broadcaster acquires World Cup rights with corporate sponsorship

Vietnam Television (VTV) has acquired exclusive broadcasting rights for the FIFA World Cup Qatar 2022 in the country with sponsorship from VPBank, Vingroup, LienVietPostBank, Techcombank, Saigon-Hanoi Bank, and T&T Group.

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

Deposit interest rates surge, approach 9% a year

Deposit interest rates surge, approach 9% a year

After breaking the 8% threshold two weeks ago, deposit interest rates in many banks have exceeded 8.5% and are approaching 9%.

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