The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) found a place among the 1,000 largest companies in Forbes’ recent “The World’s Largest Public Companies 2020” report, released in its Global 2000 annual rankings.
Many banks in Ho Chi Minh City are selling their mortgaged assets, mainly properties worth trillions of Vietnamese dong, to speed up the resolution of bad debts.
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.
To encourage customers to deposit money online amid the COVID-19 pandemic, many banks have raised interest rates for online savings by up to 1.4% higher than over-the-counter deposits.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has asked commercial banks to promptly to support customers affected by COVID-19.
State divestment is expected to lure foreign investors into and lift Vietnam’s non-life insurance market.
Airlines in Vietnam are seeking to overcome the impact of the COVID-19 outbreak after seeing a sharp decline in passenger numbers.
The Vietnamese banking sector, now undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and management from their European partners after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, according to insiders.
Vietnamese lenders and fintech groups are catching up with international peers on kick-starting the economy and promoting cashless transactions in the face of the coronavirus outbreak, but greater advancement always comes with new risks.
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has announced a credit package worth 5 trillion VND (215 million USD) for its individual customers hurt by the acute respiratory disease caused by a novel coronavirus (COVID-19).
The completion of the sale of Vietcombank stake to foreign buyers in early 2019 and of BIDV at the end of last year may bode well for a comeback of foreign banks to Vietnam in 2020.
The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Vietnam (SBV) Le Minh Hung.
Vietnam's real estate market will not be short of capital next year but will still face many challenges from policies and administrative procedures, experts said at the annual Vietnam Real Estate Forum.
Vietnam is committed to opening door for foreign investors, especially in the field of services, according to the roadmap in signed bilateral and multilateral free trade agreements.
Merger and acquisition activities in Vietnam's banking sector are expected to grow in the years to come despite certain regulatory barriers hindering foreign investors.
The State Bank of Vietnam (SBV) has taken steps to tighten regulations over banks’ use of short-term deposits, reducing its ratio used to finance medium and long term loans from 60 percent now to 40 percent by September next year.
KEB Hana Bank of the Republic of Korea (RoK) has become a strategic shareholder of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), helping the latter to have the biggest charter capital among Vietnamese banks.
More than per 76 percent of current investment projects following public-private partnerships (PPP) are in the field of transport infrastructure, but investors still feel insecure.
The Vietnamese Government will create the most favourable conditions for firms from the Republic of Korea (RoK) to operate successfully in Vietnam, Prime Minister Nguyen Xuan Phuc said on November 11.
The Vietnamese Government may allow European financial firms to buy up to 49 percent of only two local commercial banks, Nguyen Thi Thu Trang, Director of the WTO Integration Centre at the Vietnam Chamber of Commerce and Industry, said on October 23.