The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) topped the rankings in Vietnam and placed 55th in Asia-Pacific in The Asian Banker’s Strongest Bank by Balance Sheet this year.

VOV.VN - With the third wave of the novel coronavirus (COVID-19) pandemic causing numerous challenges for local businesses, several banks such as BIDV, Vietcombank, VietinBank, and Agribank have devised solutions aimed at supporting Vietnamese companies, especially small and medium enterprises (SMEs).

Competition among banks to lure demand deposits is becoming fiercer as the cheap capital source helps banks increase their net interest income (NIM) ratio.

The local retail market is forecast to grow at a double-digit rate in 2021, so domestic retailers have rushed to open new stores across the country to expand their market share since the beginning of the year.

Customers are urged to stay cautious against rampant scam and fraud activities ahead of Tet holiday.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has agreed to provide VND1.5 trillion (US$65.1 million) in credit for the PetroVietnam Gas Corporation (PV Gas) to finance the second phase of the adjusted Nam Con Son 2 Gas Pipeline Project.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has recently been honoured at four categories of the multinational financial services corporation Visa Inc.

The Operations Centre of the State Bank of Vietnam, on November 24, adjusted down both the buying and selling rates for the US dollar, the first adjustment made so far this year.

A new decree released by the Government will allow State-owned commercial banks to save cash to increase their strength instead of paying dividends to shareholders.

The pre-tax profit of the banking system in the second half of this year is estimated to fall 22.1% compared to the same period last year due to an increase in provisions for risky loans in the wake of the COVID-19 pandemic.