Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.
Despite being slow, credit growth of the banking system in March recovered compared with the first two months of this year.
The Easter holidays fall at the time of the event, making it a perfect opportunity for foreign tourists coming to experience the first ever F1 race in Hanoi and the beauty of Vietnam.
Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.
Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.
VP Bank Finance Company Limited (FE CREDIT), one of the largest credit card issuers in Vietnam, scored a hat-trick of gongs at the 5th Annual Cards and Electronic Payments International (CEPI) Asia Awards 2018.
Since early 2018, domestic banks have mulled over charter capital hike plans and sought shareholders’ approval for mergers and acquisitions in a bid to improve their competitiveness and expand their growth scale.
IFC, a member of the World Bank Group, in partnership with Vietnam Prosperity Commercial Joint Stock Bank (VPBank) is extending a commodity financing facility of up to $50 million to Tan Long Group, one of Vietnam’s leading commodity traders as a key step to unlock further agri-financing opportunities in this high-potential sector.
The prosperity of the stock market in 2017 and the first months of 2018 has helped banks increase accumulated capital.
The banking sector will enjoy another strong year in 2018, experts told a seminar in Ho Chi Minh City this week.
In bankers’ eyes, 2018 is the time to try to attract foreign capital to boost growth. However, they will have to scramble and compete for investors.
Sacombank and VP Bank are leading the list of banks with the highest NPL (non-performing loans) ratios.
After separating from HSBC, Techcombank plans to spare no room for foreign investors, and VP Bank, which has been prospering in the last four years, is no longer eager to seek foreign partners.
Last year the VPBank-owned FE Credit-Consumer Finance Services added 2.7 million accounts to take its total number of customers to 3.3 million.
Customers must be at the centre of banks’ attention as they make a move towards digital transformation in an effort to adapt to a changing landscape of financial innovation and disruptive technologies.
Vietnam is expected to adopt International Financial Reporting Standards (IFRS) instead of the current Vietnamese accounting standards (VAS) by 2025 in its efforts to enhance comparability and improve transparency.
Many commercial banks have recently raised their deposit interest rates in an attempt to satisfy new State Bank of Vietnam’s regulations that are due to take effect in 2017.
The director of an agriculture firm in Ho Chi Minh City has accused a local bank of allowing employees to abet scammers in draining more than US$1 million from her account without consent.
Vietnam Prosperity Bank (VPBank) has been recognised as the "Best Mobile Banking Vietnam 2016" by Global Banking and Finance Review, due to its continuous efforts to improve its products.
Terms for special bonds issued by the Vietnam Asset Management Company (VAMC) to buy non-performing loans (NPLs) from credit institutions will be extended to ten years in some cases, according to a State Bank of Vietnam newly-issued regulation.