United Overseas Bank Limited (UOB) on March 1 announced the completion of the acquisition of Citigroup’s consumer banking business in Vietnam, which includes the transfer of approximately 575 Citigroup related staff to UOB Vietnam.

The Ministry of Finance has proposed to increase the special consumption tax (SCT) on a number of items harmful to health including tobacco, beer, and alcoholic products to limit imports, production and consumption.

The MB Cambodia Bank, Public limited Company (MB Cambodia) officially launched its services on February 27 as a commercial bank wholly invested by Vietnam’s Military Commercial Joint Stock Bank (MB).

Vietnamese banking brands are riding high with a growth of 31.3% in brand value in 2023, according to Brand Finance Banking 500 Report.

European manufacturers are considering investing hundreds of millions of dollars in Vietnam to build wind turbine plants as the country gears up to exploit its large untapped potential in offshore wind, Reuters cited sources familiar with the situation as reporting.

Vietnam’s central bank net withdrew over VND30 trillion from the market last week as the banking system saw surplus liquidity due to slow credit growth.

More than 200 Vietnamese students from universities across the UK took part in The Leader Camp 2023, an annual event organised by the Vietnamese Student Association in the UK (SVUK), which was held on February 18 at London South Bank University aimed at helping them develop their own capabilities.

Standard Chartered Bank Vietnam has been named the “Best Foreign Bank in Vietnam” in 2022 for the second consecutive year and Best Digital Bank 2022 by Global Business Review.

The State Bank of Vietnam (SBV) has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.

Many banks reported negative results in securities trading and investment in 2022 due to the interest rate hike, the exchange rate uncertainty, the sharp decline of stock indices and the ‘freezing’ of the corporate bond market, cafef.vn reported.