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SCIC posts VND844 billion pre-tax profit

SCIC posts VND844 billion pre-tax profit

The State Capital Investment Corporation (SCIC) has declared record pre-tax profit of around VND19 trillion (US$844 billion) in 2016, which is 3.9 times higher than the profit earned in 2013.

Commercial banks rush to buy finance companies

Commercial banks rush to buy finance companies

Four commercial banks have taken over finance companies, and other banks are consulting with their shareholders about buying such firms to expand their consumer lending.

MBBank receives merger approval

MBBank receives merger approval

The State Bank of Vietnam has recently approved in principle a merger between the Song Da Finance Company (SDFC) and the Military Commercial Joint Stock Bank (MBBank).