Tags: banking sector

Banking sector looks to promote non-cash payment

Banking sector looks to promote non-cash payment

Promoting non-cash payment, digital banking, and green banking is the direction of the banking sector in the 2020-2025 tenure, State Bank Governor Le Minh Hung told a meeting in Hanoi on August 17.

COVID-19 hits profitability of national banking sector

COVID-19 hits profitability of national banking sector

VOV.VN - If the ongoing COVID-19 epidemic is successfully brought under control by the end of the second quarter then it is likely that the pre-tax profits of banks will grow at an annual rate of 7.2%, with the rate drastically falling to 0.8% if the epidemic is unable to be controlled until the end of the year, according to SSI Securities Joint Stock Company.

Banks serve as fulcrum for businesses amid epidemic

Banks serve as fulcrum for businesses amid epidemic

VOV.VN - Despite banks making moves to lower annual interest rates by up to 1.5% whilst simultaneously offering a range of support packages, many businesses have no need for loans in the current climate due to the consumption market facing plenty of difficulties.

Banking sector vows adequate capital to keep economy going

Banking sector vows adequate capital to keep economy going

The banking sector will ensure adequate capital to keep the economy going, according to an official from the State Bank of Vietnam (SBV), amid the novel coronavirus disease (COVID-19) which is taking heavy toll on the economy.

Pending frustrations in M&A unnerve investors

Pending frustrations in M&A unnerve investors

Though mergers and acquisitions in Vietnam’s banking sector have ballooned recently, tie-ups between foreign and local lenders are not without their drawbacks. A handful of high-profile acquisitions gone sour have also given investors more reason for hesitation.

WB, Switzerland support Vietnam’s efforts to enhance banking sector

WB, Switzerland support Vietnam’s efforts to enhance banking sector

VOV.VN - On October 1, the World Bank (WB) and the State Bank of Vietnam (SBV) signed a financing agreement for a grant worth US$2.2 million provided by the Swiss Government to implement the project titled “Vietnam: Strengthening Banking Sector Soundness and Development”.

Banking sector leads corporate bond issuance

Banking sector leads corporate bond issuance

VOV.VN - Banking entities have to date led the domestic corporate bond market as they managed to mobilize VND18.2 trillion (US$782.6 million) from bond issuances.

M&As in banking sector encouraged

M&As in banking sector encouraged

The Government plans not to license any more wholly foreign-owned banks in Vietnam but encourages foreign banks to buy weak domestic banks, said Deputy Prime Minister Vuong Dinh Hue.

Banks pursue sustainable growth

Banks pursue sustainable growth

The current development and future strategies of many local commercial banks are creating confidence about a sustainable growth of the banking sector.

Moody's raises outlook for banking sector

Moody's raises outlook for banking sector

Moody’s Investors Service has changed its outlook for Vietnam’s banking system to positive for the next 12-18 months from stable, reflecting the country’s strong economic prospects and the positive outlook for most rated banks.

Banking sector in dire need of more employees

Banking sector in dire need of more employees

Many banks have plans to expand employment this year as around 25.6% of banks said they had fallen short of staff by the end of last year, the Monetary Statistics and Forecasting Department of the State Bank of Vietnam revealed in a survey.