How will mobile money affect e-wallets?

A new trend is payment services on mobile devices, which is called mobile money. — Photo vietnamplus.vn Non-cash payment activities have developed strongly in recent years with many payment services such as digital banks and e-wallets. A new trend of developing payment services on mobile devices, called mobile money, is...

SeABank allowed to increase charter capital

Techcombank targeted VND13 trillion pre-tax profit in 2020

Firms with greenback loans see more positive outlook in Q2 2020

Lender ACB to issue bonus shares at the rate of 30 per cent

SHB to raise capital to US$832 million

VIB strives for $193 million pre-tax profit in 2020

SBV eyes tightening non-bank credit in corporate bonds, property

Banks expect credit growth extension

G-bond yield rates forecast to rise on Government’s increased demand for cash

Notes being counted at a government bond auction. The State Treasury of Vietnam this week raised a total of nearly VNĐ1.3 trillion (US$55.3 million) from government bonds. — Photo kinhtedothi.vn Bond yield rates are forecast to increase in the short term as the Government looks at ways to support the socio-economic recovery once the coronavirus […] Read more »

Credit declines in first half of April due to COVID-19 pandemic

Many domestic firms have no need for new loans. — Photo ndh.vn Low demand for capital due to COVID-19 has caused bank credit in the first half of April to drop 0.5 per cent compared with the end of March, according to the State Bank of Viet Nam (SBV). However, with a rise of 1.3 […] Read more »

Moody’s affirms BIDV’s ratings

Transactions at BIDV. The bank’s capitalisation is strengthened following the external capital raise in 2019. — Photo BIDV The Bank for Investment and Development of Viet Nam (BIDV)’s long-term local and foreign-currency deposit and long-term issuer ratings were maintained, according to Moody’s announcement released last week. These are the highest ratings among Vietnamese banks in […] Read more »

State Bank of HCM City sets up hotline to support businesses

An HDBank office in HCM City. — Photo courtesy of HDBank The State Bank of Viet Nam’s branch in HCM City has set up a hotline (028) 38.211.230 to provide assistance to enterprises, especially for those badly affected by the COVID-19 pandemic. The move followed a request from the central bank to promptly resolve problems […] Read more »

State Bank of HCM City sets up hotline to support businesses affected by pandemic

An HDBank office in HCM City. — Photo courtesy of HDBank The State Bank of Viet Nam’s branch in HCM City has set up a hotline (028) 38.211.230 to provide assistance to enterprises, especially for those badly affected by the COVID-19 pandemic. The move followed a request from the central bank to promptly resolve problems […] Read more »

VPBank launches “Household Business Academy” programme

The “Household Business Academy” programme would help 50,000 household businesses shift their sales from offline to online. — Photo courtesy of VPBank VPBank on Tuesday officially launched the “Household Business Academy” programme, which enables business owners to conduct transactions via online channels in light of the social distancing order, as well as to maintain their […] Read more »

SHB to sell financial arm to foreign partners

SHB will earn a sizeable profit from the sale of SHBFC to foreign partners. — Photo courtesy of SHB SHB is planning to sell its shares in SHB Finance Company (SHBFC) to strategic foreign partners, the bank announced on Friday. SHB said SHBFC on Wednesday submitted a capital divestment proposal to the bank’s management board. Some foreign partners […] Read more »

A US$1.27 billion package offered to supports firms amid the pandemic

Techcombank’s customers could enjoy reduction of lending rate for loans during the novel coronavirus pandemic. — Photo courtesy of Techcombank Techcombank on Wednesday announced a VND30 trillion (US$1.27 billion) credit package to support its customers to overcome difficulties amid the COVID-19 pandemic. The package includes exemptions and reductions of lending rates as well as extending […] Read more »

Commercial banks cut profit target amid COVID-19 pandemic

A branch of SHB Bank. Many banks are cutting their annual profit targets due to the impacts of COVID-19. — VNS Internet Many banks in Viet Nam have reduced their profit target for 2020, and plan to support companies severely impacted by the COVID-19 pandemic. Besides, the State Bank of Viet Nam issued instructions on […] Read more »

VPBank offers lending rate cuts to firms and customers

Transactions conducted at VPBank. The bank’s customers have enjoyed lending rate cuts amid the COVID-19 pandemic. — Photo courtesy of VPBank VPBank has announced a further lending cut of 2 per cent for small- and-medium sized enterprises (SMEs), the second time it has slashed rates to support customers since the COVID-19 outbreak. The rate cut […] Read more »

Banks offer higher rates for online savings to draw clients amid COVID-19 battle

Customers make transactions at an Eximbank branch. Disparity between online savings and traditional savings at Eximbank is the highest among banks at 1.4 percentage points per year. Photo Eximbank To encourage customers to deposit money online amid the COVID-19 pandemic, many banks have raised interest rates for online savings by up to 1.4 per cent […] Read more »

Declared-bankrupt plastic firm records $30.5m of loss in 2019

A Saplastic factory in HCM City. Last year’s revenue was the company’s first recorded loss since 2007. – Photo tinnhanhchungkhoan.vn Involuntarily-bankrupted firm Saigon Plastic Packaging JSC (Saplastic) has reported a net loss of VND720 billion (US$30.5 million) in 2019. The company earned VND255 billion in total net revenue last year, down sharply from VND1 trillion […] Read more »