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Banks warned of sanctions against interest rate race

Banks warned of sanctions against interest rate race

VOV.VN - The State Bank of Vietnam will intensify the supervision of implementing interest rates and credit programs of credit institutions whilst also strictly handling relevant infringements.

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.

Banks achieve half year’s profit target

Banks achieve half year’s profit target

VOV.VN - Twelve out of the 25 commercial banks that have announced half-year financial reports achieved more than 50 per cent of the annual profit target within the first half of this year.

Bad debts on the rise in first half of 2019

Bad debts on the rise in first half of 2019

Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments.

Banks short of credit growth quota for 2019

Banks short of credit growth quota for 2019

Though there remains six months, some banks have almost used up the assigned quota for the whole year, and experts said it would be difficult for the banks to get an expansion approval from the State Bank of Vietnam (SBV).

Forex rate under pressure of US-China trade tensions

Forex rate under pressure of US-China trade tensions

The foreign exchange market in Vietnam has heated up recently when the daily reference exchange rate set by the State Bank of Vietnam (SBV) continuously climbed to new record levels and the VND/USD rates listed at commercial banks also surged.

Funding capacity, asset quality of banks improves

Funding capacity, asset quality of banks improves

The financial capacity of Vietnam’s credit institutions has solidified in recent years, with their charter capital reaching 578.9 trillion VND (24.85 billion USD) by the end of the first quarter 2019.

Banks face anger over lack of dividend payment

Banks face anger over lack of dividend payment

Despite earning decent profits, some commercial banks have opted not to pay any dividends, prompting frustration among shareholders at recent annual general meetings, reported Thanh Nien newspaper.

Banks speed clearance of bad debts at VAMC

Banks speed clearance of bad debts at VAMC

Many banks had to sell a large amount of NPLs to the Viet Nam Asset Management Company (VAMC) in the past few years to meet the central bank’s requirement of keeping their NPL ratio below 3 per cent of all outstanding loans.

Credit programme gives boost to HCMC economic growth

Credit programme gives boost to HCMC economic growth

VOV.VN - Commercial banks have pledged to provide enterprises in Ho Chi Minh City with VND279 trillion (US$11.99 billion) in loans under the bank-enterprise linkup programme this year, heard a conference held in the city on April 18.