Tags: acb

Small banks struggle to meet Basel II deadline

Small banks struggle to meet Basel II deadline

Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.

Credit slowdown causes concern about access to bank loans

Credit slowdown causes concern about access to bank loans

Vietnam’s credit growth is slowing and can fall behind the central bank’s target of 14 percent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year.

Bancassurance becomes main service earner for banks

Bancassurance becomes main service earner for banks

Instead of the modest contribution made previously, the insurance business segment, or bancassurance (banks co-operate with insurers to sell insurance products), has now become the main source of income from service activities for many banks.

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.