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Vietnam’s banks expect big M&A deals in near future

Vietnam’s banks expect big M&A deals in near future

M&A in banking sector is forecast to be exciting in the near future as many banks are accelerating to restructure and raise capital to meet Basel II standards’ deadline by 2020 set by the central bank, experts said.

SOE equitisation lists fizzle up M&A

SOE equitisation lists fizzle up M&A

Following a muted 2018 and first half of 2019, experts are pining for a new surge in state divestments and equitisations, buoyed by new regulatory frameworks.

Credit growth expanded 7.33 percent in H1

Credit growth expanded 7.33 percent in H1

The banking sector reported a credit growth of 7.33 percent in the first half of this year compared to the end of 2018, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.

Banks earn huge services profits

Banks earn huge services profits

Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

Major banks go ahead with deposit rate cut plans

Major banks go ahead with deposit rate cut plans

Some major commercial banks have adjusted down their annual deposit rates for certain tenors by 10-30 basis points after a hike in the middle of 2018, according to VnEconomy news sites.

Korea firm to buy VietinBank Insurance stake

Korea firm to buy VietinBank Insurance stake

Hyundai Marine & Fire Insurance Co Ltd (HMFI), the Republic of Korea’s No 2 non-life insurer, has signed a stock purchase agreement to buy a 25% stake in Vietnamese non-life insurer VietinBank Insurance Joint Stock Corp (VBI).

Vietcombank allowed to apply Basel II standards

Vietcombank allowed to apply Basel II standards

The State Bank of Vietnam (SBV) has allowed the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to apply minimum capital adequacy ratio requirements following Basel II standards one year earlier than the deadline initially set by the central bank.

VietinBank Laos launches branch in Vientiane

VietinBank Laos launches branch in Vientiane

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) opened a new branch in the Lao capital of Vientiane on November 28, the second Lao branch the bank has opened since 2015.

Forex lending to continue next year

Forex lending to continue next year

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.

Banks race to issue bonds for capital hike

Banks race to issue bonds for capital hike

Many banks have issued a large amount of bonds to raise capital in a move to meet high demand during year-end’s peak lending season and prepare to meet the State Bank of Vietnam (SBV)’s regulations on tightening the use of short-term funds for long-term loans from early next year.