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Major banks go ahead with deposit rate cut plans

Major banks go ahead with deposit rate cut plans

Some major commercial banks have adjusted down their annual deposit rates for certain tenors by 10-30 basis points after a hike in the middle of 2018, according to VnEconomy news sites.

Vietcombank allowed to apply Basel II standards

Vietcombank allowed to apply Basel II standards

The State Bank of Vietnam (SBV) has allowed the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to apply minimum capital adequacy ratio requirements following Basel II standards one year earlier than the deadline initially set by the central bank.

Few bank stock options for foreigners

Few bank stock options for foreigners

Although Vietnamese bank stocks appear to have a bright future, foreign investors may find it difficult to join the parade due to a lack of progress on foreign ownership and corporate governance.

Foreign investors eye bank shares

Foreign investors eye bank shares

The funds managed by Alp Asia Finance have become a shareholder of Asia Commercial Bank (ACB) since May 7, holding a 10% stake of the bank. Whistler Investments Limited and Sather Gate Investments Limited both have 102.2 million ACB shares, each of which holds 51.1 million.

Banks help low-income earners

Banks help low-income earners

Commercial banks and financial companies are competing fiercely for a slice of the profitable personal-loan market as demand often rises sharply at the end of the Lunar New Year.

Banks’ profit skyrockets due to credit growth

Banks’ profit skyrockets due to credit growth

Due to the recovery of the credit market throughout the year 2017, plenty of banks announced positive business performance with increased profits whilst fostering asset trading, risk management, and control over non-performing loans.

Agribank, VAMC coordinate in settling bad debts

Agribank, VAMC coordinate in settling bad debts

The Vietnam Bank for Agriculture and Rural Development (Agribank) and the Vietnam Asset Management Company (VAMC) will work closely together to review bad debts and put forth proper measures to accelerate the settlement and recovery of bad debts.

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.