Tag: "acb"

Vietnam banks surviving on credit

Vietnam banks surviving on credit

The net interest margin (NIM) of Vietnamese banks is lower than that of other regional banks, while financial reports show that the business performance of the banks depends heavily on credit.

Banks ask for higher credit growth limit

Banks ask for higher credit growth limit

Many commercial banks have asked the State Bank of Vietnam (SBV) to expand the credit growth limit as they have almost used up the assigned quota for the whole year.

Foreign banks on trend to exit Vietnam

Foreign banks on trend to exit Vietnam

Foreign banks have exited Vietnam or narrowed operations in the Southeast Asian country, against early expectations that they would soon eat into the market shares of local lenders.

Risk provisions remain principal burden on banks

Risk provisions remain principal burden on banks

Although their business operations have shown brighter prospects and many banks are planning to earn trillions in profit this year, the risk provision pressure remains a significant burden.

HCM City’s bad debts down to 3.8%

HCM City’s bad debts down to 3.8%

Ho Chi Minh City’s bad debts had decreased to 3.8 percent of total credit outstanding balance by the end of August, said Director of the State Bank of Vietnam’s municipal branch To Duy Lam during a working session with the city’s National Assembly deputies on October 17.

Banks raise deposit interest rates

Banks raise deposit interest rates

Many commercial banks have raised deposit interest rates over the past few weeks, generating concern about an imminent lending interest rate hike.

Credit growth surges 5.48% in first five months

Credit growth surges 5.48% in first five months

Credit in the first five months of 2016 grew 5.48% compared to the end of 2015, the highest for the past few years, according to the State Bank of Vietnam’s Credit Department.

10 big bankers on Vietnamese stock market

10 big bankers on Vietnamese stock market

The shareholders of big listed banks - Sacombank, ACB and SHB – in 2015 had total stock assets worth VND3.55 trillion, an increase of VND275 billion compared with the previous year.

Nov loan rate slides to 9.3%

Nov loan rate slides to 9.3%

Average lending interest rate in November reduced 0.28% to 9.3% per year, the highest slide for the past nine months.

AIA Vietnam, ACB sign bancassurance deal

AIA Vietnam, ACB sign bancassurance deal

(VOV) - The Asia Commercial Bank (ACB) and AIA Life Insurance Limited have officially signed a strategic agreement on distributing life insurance products through the bank's network (bancassurance).

Local banks draw foreign interest

Local banks draw foreign interest

Commercial banks expect to attract foreign investment in their newly-established financial companies thanks to the profitable domestic consumer financial market, according to Dau tu (Investment) newspaper.