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New regulation reduces cross-ownership in banks

New regulation reduces cross-ownership in banks

Cross-ownership in banks has decreased sharply after the banks recently changed their top leaders at the 2018 annual general meetings of shareholders (AGMs) to meet the central bank’s new regulation.

IFC’s lending package helps Vietnamese SMEs

IFC’s lending package helps Vietnamese SMEs

The International Finance Corporation (IFC) announced on December 19 a successful syndicated senior loan package transfer of US$110 million to An Binh Commercial Joint Stock Bank (ABBANK) as a joint effort to boost the latter’s small and medium enterprises (SMEs) lending.

ABBank, TPBank join ADB trade finance programme

ABBank, TPBank join ADB trade finance programme

An Binh Joint-Stock Bank (ABBANK) on May 24 officially signed an agreement with the Asian Development Bank’s (ADB) on joining the Trade Finance Programme (TFP) – one of prominent programmes enabling Vietnamese enterprises to increase competitiveness and get more opportunities to promote economy.

ABBANK committed to environmental responsibility

ABBANK committed to environmental responsibility

The An Binh Commercial Joint Stock Bank (ABBANK) has officially become a member of the United Nations Environment Programme - Finance Initiative (UNEP FI), pioneering in response to climate change and fulfillment of social and environmental corporation responsibility.

Hong Kong based insurer sees Vietnam as huge potential market

Hong Kong based insurer sees Vietnam as huge potential market

Hong Kong based insurer FWD Group is working to quickly establish its presence in Vietnam as the country has a huge growth potential on insurance market with more than 90 million people, according to the group’s CEO Huynh Thanh Phong.

Bankers suggest lifting foreign ownership ratio ceiling

Bankers suggest lifting foreign ownership ratio ceiling

While Vietcombank and VietinBank have proposed to lift the foreign ownership ratio ceiling to 35-40% to satisfy requirements of the Basel II Accord, ABBank and SCB want higher foreign ownership ratios (49% and over 50%) to speed up the restructuring process.

Investors cautious over bank shares

Investors cautious over bank shares

Though local state-owned enterprises wishes to sell stakes in banks to which they contributes capital, no foreign investors want to buy such stakes unless the foreign ownership limit at banks is lifted.

Many banks fail to pay 2014 dividends

Many banks fail to pay 2014 dividends

Dividend issue is poised to heat up the annual general meeting (AGM) season in the banking sector this year as many lenders have failed to pay 2014 dividends for shareholders or have offered just modest payments.

Malaysia’s CIMB bank eyes expanding into Vietnam

Malaysia’s CIMB bank eyes expanding into Vietnam

(VOV) - Malaysia’s second largest bank, CIMB Group, is planning to obtain banking licenses in Vietnam as part of its drive to expand into the fast-growing Southeast Asian market, according to Reuters.

ABBank, Prudential expand cooperation

ABBank, Prudential expand cooperation

The An Binh Bank (ABBank) and the Prudential Vietnam Life Insurance have announced to expand their cooperation following their initial success of the bancassurance product – an insurance product sold by banks.