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Commercial banks report high profits in 2017

Commercial banks report high profits in 2017

Vietnam’s commercial banks reported solid results for 2017 with the total after-tax profit estimated to grow 44.5% from the previous year, according to an independent report of the National Financial Supervisory Commission.

Korean group told to focus on financial investment in Vietnam

Korean group told to focus on financial investment in Vietnam

VOV.VN - Deputy Prime Minister Vuong Dinh Hue called on the Keb Hana financial group of the Republic of Korea to increase finance-banking investment in Vietnam while receiving Chairman and CEO of the group Kim Jung Tai in Hanoi on January 5.

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.

Foreign investors flock to limited-availability bank stocks

Foreign investors flock to limited-availability bank stocks

In 2017, Vietnamese banks have regained their appeal to foreign investors, after a long period of restructuring. Major share sales such as HDBank and VPBank in the last months of 2017 have raised millions of USD for the banks and attracted a great number of buyers from overseas.

Low CAR spells doom for state-owned banks

Low CAR spells doom for state-owned banks

State-owned commercial banks are growing concerned over the critically low capital adequacy ratio (CAR) of around 9%, which also hit the minimum required CAR for the Vietnamese banking system.

Hanoi business information portal launched

Hanoi business information portal launched

After four months of development, the municipal Department of Information and Communications on December 25 officially launched the Hanoi business information portal with two domain names – http://hanoibusiness.vn and http://hanoibusiness.com.vn.

Non-cash payment programs encounter barriers

Non-cash payment programs encounter barriers

The smartphone-based payment service market in Vietnam has become busy in the last six months, but Vietnam is still far from its ‘non-cash payment’ target.

Vietnam contributes to Lao socio-economic development

Vietnam contributes to Lao socio-economic development

Since the signing of the Vietnam-Laos Treaty on Amity and Cooperation on July 18, 1977, the traditional relationship, special solidarity and comprehensive cooperation between the two nations have been strengthened, especially in the economy.

Large banks move to change deposit interest rates

Large banks move to change deposit interest rates

In contrast to Vietcombank’s move to cut deposit interest rate a week ago, two other large State-owned commercial banks -- Vietinbank and BIDV -- this week announced they were raising the rate.

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.

Reference exchange rate down VND3

Reference exchange rate down VND3

The State Bank of Vietnam set its reference VND/USD exchange rate at VND22,467/USD on the morning of October 26, down by VND3 from the day ago.

Reference exchange rate down by VND3

Reference exchange rate down by VND3

The State Bank of Vietnam set its reference VND/USD exchange rate at VND22,459/USD on the morning of October 20, down by VND3 from a day ago.

Reference exchange rate goes up by 8VND

Reference exchange rate goes up by 8VND

The State Bank of Vietnam set its reference VND/USD exchange rate at VND22,460/USD on the morning of October 18, up by VND8 from the day ago.

Korean investors contest Vietnamese consumer finance

Korean investors contest Vietnamese consumer finance

Since the beginning of the year, myriad financial investors from the Republic of Korea have been actively searching for opportunities to enter the Vietnamese banking sector, especially the consumer finance segment. A typical example is Lotte Card, who is negotiating to acquire Techcom Finance.