Retail arm withdrawal plans hit road blocks for Citigroup

Retail arm withdrawal plans hit road blocks for Citigroup

Despite announcing plans to pull out of the consumer banking business in 13 nations, including Vietnam, earlier this year, US-based financial group Citigroup has been unable to ensure that all of its divestiture plans would yield the desired conclusion with a perfect partner.
Stock market pursues race to lure cash flows

Stock market pursues race to lure cash flows

The near-term outlook of Vietnam’s stock market appears bumpy to some foreign funds, although positive developments are expected as the pandemic slackens, mirroring the recovery of other markets.
Remittances steady as lenders apply fresh transfer services

Remittances steady as lenders apply fresh transfer services

Remittance flows from Vietnamese expatriates working abroad are predicted to remain resilient throughout the rest of the year, with the country’s central bank keeping its policy steady for now.
Bamboo Capital Group to acquire 71 per cent stake in AAA Insurance

Bamboo Capital Group to acquire 71 per cent stake in AAA Insurance

Bamboo Capital has just approved the capital contribution in local firm AAA Insurance JSC, which is predicted to be completed in October.
Insurance draft to aid standardisation

Insurance draft to aid standardisation

Amid evolving consumer trends and digital transformation, the Ministry of Finance has issued draft changes to the Law on Insurance Business to bring regulations up to speed with modern times by opening them up to technology while also making it safer by restricting investment by local and foreign insurers.
Insurers hail health and tech awareness

Insurers hail health and tech awareness

Driven by heightened awareness and technology disruption, Vietnam’s life insurance industry is forecast to witness stellar performance – but insurance sales are likely to slow down in the third quarter first.
VNDIRECT predicts Vietnam's GDP growth of 3.9 per cent in 2021

VNDIRECT predicts Vietnam's GDP growth of 3.9 per cent in 2021

VNDIRECT predicts Vietnam's GDP growth at 3.9 per cent in 2021, with -1.2 per cent in Q3 before rebounding to 5.7 per cent in Q4.
Thai bank Krungsri to acquire SHB Finance amid a $156-million deal

Thai bank Krungsri to acquire SHB Finance amid a $156-million deal

Saigon-Hanoi Joint Stock Commercial Bank (SHB) has just announced the transfer of 50 per cent of its capital and consumer finance arm the to Bank of Ayudhya (Krungsri) of Thailand.
US and Vietnam aligning on monetary philosophy

US and Vietnam aligning on monetary philosophy

The United States and Vietnam are making joint efforts to ensure market fairness and macroeconomic stability, therefore enhancing bilateral economic links with monetary and exchange-rate perspectives.
Circular offers strict level for bank risks

Circular offers strict level for bank risks

Despite the government coming to the aid of banks and vulnerable businesses in the past year, the latest COVID-19 wave has rendered some debt restructuring and payment scheduling by the country’s central bank less effective than expected.
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