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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.

Vietinbank Business Matching Fair brings more than expectation

Vietinbank Business Matching Fair brings more than expectation

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) together with Mitsubishi UFJ Financial Group (MUFG – Japan) co-organized a “Business Matching Fair in Vietnam” on October 23 in Ho Chi Minh City. The event was highly evaluated by companies from the two countries.

Hue returns to play at volleyball tournament

Hue returns to play at volleyball tournament

Vietnam’s veteran volleyball player Pham Kim Hue will return to play for Vietinbank in the PetroVietnam - Ca Mau Fertiliser Cup 2018, said one of the organisers.

Vietcombank to cut stake in Eximbank

Vietcombank to cut stake in Eximbank

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).

Military Cup Open 2018 to be held in Hanoi

Military Cup Open 2018 to be held in Hanoi

The Military Cup Open 2018 will officially kick off from September 13 to 20 at the High Command of Border Guard Volleyball Gymnasium, Tu Liem District.

Government directs capital hike for State-owned banks

Government directs capital hike for State-owned banks

The Government is directing ministries and agencies to raise capital for State-owned commercial banks through the use of dividends or share sales this year, Deputy Prime Minister Vuong Dinh Hue said at a recent meeting.