VOV.VN -Tien Phong Commercial Joint Stock Bank, known as TPBank, has been named among a list of “Asia’s Best Workplace 2020”, which was compiled by HR Asia.
The volume of corporate bonds issued during February has dropped remarkably compared to the previous month due to the negative impact of the COVID-19 epidemic on the stock market.
Seventeen out of 45 commercial banks slashed the fees for interbank transfers of small sums worth less than 500,000 VND (21.5 USD) following the move of the National Payment Corporation of Vietnam (NAPAS) to cut switching fees with an aim to promote cashless payments.
Many banks have announced the recruitment of a large number of personnel to meet business expansion plans in 2020.
While non-cash payments are admittedly on the rise, the cash payment habit and limited development of technology infrastructure are big problems for the country’s non-cash economy, experts have said.
Vietnam Travel Fest 2019, the largest travel promotion fair in Hanoi, will be held by the Phong Han JSC and Travellive in collaboration with Aeon Mall for the first time at Aeon Mall in Long Bien district, Hanoi, from March 15 to 17.
Several local banks are reportedly determined to list on stock markets in 2019 after delaying last year.
The Tien Phong Commercial Joint Stock Bank (TPBank) has won the 2018 fastest-growing small- and medium-sized enterprise (SME) bank award from the Global Banking and Finance Review.
Tien Phong Commercial Joint Stock Bank (TPBank) is the first bank in Vietnam to allow cash withdrawals using a QR Code at both its ATMs and Livebank service without needing a card.
Small banks are mulling over capital hikes and listing plans amid favourable market conditions and rosy business performance.
Domestic banks have been expanding their network of branches and transaction offices rapidly in recent years in an effort to increase market share.
The International Finance Corporation (IFC) and Tien Phong Commercial Joint Stock Bank (TPBank) have inked a deal under which the IFC will provide a syndicated loan of US$100 million to help TPBank extend long-term funding to mirco-, small- and medium-sized enterprises (MSMEs), and individual borrowers through digital delivery channels.
State-owned mobile network operator Mobifone will offload its holding of 38.95 million shares in two joint stock commercial banks in February.
E-banking, the latest trend in the Vietnamese banking system, has not completely been able to replace conventional banking customs although the majority of baby boomers (those born in 1945-1960) and generation X (1961-1980) show insignificant interest in modern banking services.
Foreign funds are making their way back to Vietnamese banks, as the sector cleans up bad debts and improves corporate governance.
Profits of many commercial banks this year will hit the highest levels since 2012 thanks to rising capital demand, experts have forecast.
The current interest rate levels have been deemed appropriate for the time being, according to experts, and any attempt to further cut rates could impose unnecessary risks to Vietnam’s overall macro-economic stability in the medium term.
According to experts, the estimated US$3 billion spent by Vietnamese people to purchase US residential property could have been transferred largely through illegitimate ways.
Commercial banks have performed well in the first half of 2017 (H1), and business results show that many have already met more than half their annual profit targets.
Numerous commercial banks have reported rising profits in the first half of 2017. However, experts have raised concerns over this growth.