Tags: vietinbank

Banks cut home loan interest rates

Banks cut home loan interest rates

Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.

Five banks give Da Nang 1.07m USD for COVID-19 fight

Five banks give Da Nang 1.07m USD for COVID-19 fight

Five banks have donated a total of 25 billion VND (1.07 million USD) for the fight against the new COVID-19 outbreak that is hitting Da Nang city hard, according to the State Bank of Vietnam (SBV).

Vietcombank among Forbes’ top 1,000 listed companies worldwide

Vietcombank among Forbes’ top 1,000 listed companies worldwide

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) found a place among the 1,000 largest companies in Forbes’ recent “The World’s Largest Public Companies 2020” report, released in its Global 2000 annual rankings.

Banks to offer credit packages for customers affected by COVID-19

Banks to offer credit packages for customers affected by COVID-19

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and the Vietnam Bank for Agriculture and Rural Development (Agribank) will provide credit packages worth VND60 trillion and VND100 trillion respectively to support customers amid the COVID-19 pandemic.

Delay forecast for banks’ capital hike plans

Delay forecast for banks’ capital hike plans

The Government’s plans to increase capital for large State-owned commercial banks in the first quarter of this year could be delayed due to the COVID-19 outbreak, analysts predicted.

Pilot project allows fee payment for cars and motorbikes online

Pilot project allows fee payment for cars and motorbikes online

Residents in Hanoi and Ho Chi Minh City will now be able to pay registration fees for cars and motorbikes through the Government’s national public service portal, banking electronic payment channels and intermediary payment service providers.

Banking sector to cash in on benefits from EVFTA

Banking sector to cash in on benefits from EVFTA

The Vietnamese banking sector, now undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and management from their European partners after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, according to insiders.

Two State-owned banks allowed to increase charter capital

Two State-owned banks allowed to increase charter capital

The Government has decided to allow Vietcombank and Vietinbank to increase their charter capital by 10 trillion VND (434.8 million USD) in the first quarter of this year, Deputy Prime Minister Vuong Dinh Hue said last month.

IFC investor group no longer VietinBank’s major shareholder

IFC investor group no longer VietinBank’s major shareholder

The International Finance Corporation (IFC) investor group is now no longer a major shareholder of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), after selling more than 55.7 million shares of the bank.

Small banks struggle to meet Basel II deadline

Small banks struggle to meet Basel II deadline

Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.

Banks issues more chip cards for security

Banks issues more chip cards for security

Despite high costs, domestic banks are issuing more chip cards that meet EMV standards to replace magnetic strip cards in order to improve security and meet the central bank’s regulations.

SBV tightens lending regulations with bad loans on the rise

SBV tightens lending regulations with bad loans on the rise

The State Bank of Vietnam (SBV) has taken steps to tighten regulations over banks’ use of short-term deposits, reducing its ratio used to finance medium and long term loans from 60 percent now to 40 percent by September next year.

Credit slowdown causes concern about access to bank loans

Credit slowdown causes concern about access to bank loans

Vietnam’s credit growth is slowing and can fall behind the central bank’s target of 14 percent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year.

Vietnam steps up fight against dollarization

Vietnam steps up fight against dollarization

The stability of the VND has contributed to decreasing demand for the dollar as people prefer the national currency due to the large spread between interest rates on VND and the dollar.