Reducing cost is top priority for Vietnamese businesses as high inflation has affected 94% of businesses surveyed in 2022, according to a new study by the Singapore-based United Overseas Bank (UOB).

The United Overseas Bank (UOB) has lowered its 2023 economic growth forecast for Vietnam from 6% to 5.2%, and forecast that Vietnam will continue to cut regulatory interest rates in the third quarter this year to stimulate its economy.

UOB FinLab, an innovation accelerator powered by the Singapore-based United Overseas Bank (UOB), announced its official launch in Vietnam on June 13.

Amid the fluctuation of the global financial market, the exchange rate in Vietnam has remained stable in the first four months of this year, and the Vietnam dong has been considered one of the most stable currencies in Asia, according to experts.

The 42nd UOB Southeast Asian Painting of the Year competition (national round) was kicked off in Hanoi on May 9.

VOV.VN - The United Overseas Bank (UOB) has moved to lower its 2023 economic growth forecast for the nation from 6.6% to 6% due to a low base in the first quarter (Q1) of this year.

Foreign investors’ continuous investment in Vietnam has shown their optimistic about the country’s economic outlook, despite the difficult situation of the global banking sector.

The Singapore-based United Overseas Bank (UOB) anticipates the State Bank of Vietnam (SBV) will cut its refinance rate in the second quarter this year by 100 basis points to 5.00%.

Large foreign financial groups have actively penetrated the Vietnamese consumer finance market, which has significantly helped accelerate the digitalisation of the country’s financial services.

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.