A sewage treatment plant funded by the Government of the Republic of Korea (RoK) through Korea Eximbank was inaugurated in Long Xuyen city in the Mekong Delta province of An Giang on October 8.
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.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has officially completed a plan to reduce its holding ratio at other credit institutions to below 5% as required by the central bank.
The State Bank of Vietnam (SBV) is drafting a new circular on foreign currency lending, allowing credit institutions and foreign bank branches to extend loans to some borrowers in 2019 instead of cutting them off at the end of this year as planned.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has offered to sell 45.6 million shares it is holding in the Vietnam Export-Import Joint Stock Commercial Bank (Eximbank).
Despite some corrections in the first half, bank tickers are expected to lead the market in the second half, buoyed by dwindling provisioning and upbeat profit prospect.
Jetstar Pacific is now Vietnam’s first low-cost airline to apply QR code technology, allowing cardless payments for online ticket bookings.
Many commercial banks in Vietnam have increased loan interest rates by 1-2% to investors in real estate as property prices continue to rise.
VIR has talked with Eximbank’s Mochizuki Masashi, senior director of Japanese Customers, and Yutaka Moriwaki, board member, senior director, and head of the Eximbank Restructuring Project, to gain a closer look into investment trends and the Japanese bank’s strategic investment.
Police in Ho Chi Minh City arrested two employees of a major bank on March 26 and seized boxes of documents connected to an alleged fraud case that costs one customer VND245 billion (US$10.8 million).
Leading seafood firm Minh Phu Corporation is planning to return to the stock exchange following a lucrative year in business.
Following the incident of “vanished” savings at Eximbank, deposit security will likely be in the limelight at Vietnam-based banks’ upcoming annual general shareholders’ meetings (AGM), rather than the previous issues, such as dividend payment and non-performing loans.
The Ministry of Public Security’s investigation police has issued an international wanted notice for a fugitive bank executive for fraudulence, illegally appropriating over US$10 million from a customer.
Bank for Foreign Trade of Vietnam (Vietcombank) was found in numerous counts of violations in its credit activity, selling bad debts, financial investments, and property sales and purchases, according to the conclusion of the Government Inspectorate
The net interest margin (NIM) of Vietnamese banks is lower than that of other regional banks, while financial reports show that the business performance of the banks depends heavily on credit.
Some commercial banks have entered a new interest rate hike race for long-term deposits with adjustments from 0.1-0.2% per year.
The Vietnam Export Import Commercial Joint Stock Bank (Eximbank) will sell its 165 million shares at the Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) in a proper time.
Although their business operations have shown brighter prospects and many banks are planning to earn trillions in profit this year, the risk provision pressure remains a significant burden.
It is normal for commercial banks to adjust their interest rates in accordance with their business strategies and market situation, said the State Bank of Vietnam.
Many banks complain that the cost of capital increases and they cannot increase lending rates, so interest margins are quickly narrowing, which affects profit.