garmin vietnam announces expansion of payment service

Garmin Vietnam announces expansion of payment service

Garmin Vietnam is expanding its contactless payment service, Garmin Pay, through a collaboration with five major banks, ACB, MB, Sacombank, Techcombank, and Vietcombank, the company announced on April 1.
hdbank announces over 500 in million profit

HDBank announces over $500 in million profit

The Ho Chi Minh City Development Joint Stock Commercial Bank on March 29 announced its 2023 audited financial statements, which show it achieved its best-ever results with pre-tax profit exceeding VND13 trillion ($524 million), an increase of 26.8 per cent, consolidating its rapid growth.
investment shift reflects evolving economic arena

Investment shift reflects evolving economic arena

Vietnam’s economy is expected to continue its success this year as it reinforces its position as a magnet for foreign investors. Lim Dyi Chang, head of commercial banking at UOB Vietnam, spoke with VIR’s Vinh Thanh about the 2024 outlook of Vietnam’s economic growth and how the country climbs up the foreign investment ladder.
banks and mutual fund market partners in growth

Banks and mutual fund market: partners in growth

In recent years, a strong transformation has been witnessed with commercial banks in developing wealth management and investment advisory services. Le Hoai An, a banking consultant and trainer at Integrated Financial Solutions, talked to VIR’s Nhue Man about the mutual fund market in Vietnam.
crypto fraudster bankman fried faces sentencing

Crypto fraudster Bankman-Fried faces sentencing

Disgraced cryptocurrency wunderkind Sam Bankman-Fried is set to be sentenced Thursday following his conviction in one of the biggest financial fraud cases in history.
pm receives outgoing wb country director

PM receives outgoing WB Country Director

Prime Minister Pham Minh Chinh on March 28 hosted a reception for World Bank (WB) Country Director for Vietnam Carolyn Turk, who came to say goodbye at the end of her tenure.
bac a bank hits award with foreign exchange transaction

BAC A BANK hits award with foreign exchange transaction

Within the framework of the Vietnam FX Awards 2024 held in Hanoi recently, Bac A Commercial Joint Stock Bank (BAC A BANK) was honoured to be granted the award of Top 5 Banks with the largest foreign exchange trading volume in Vietnam on FX matching year 2023 awarded by the London Stock Exchange Group (LSEG).
mb secures prestigious international award for excellence in risk management

MB secures prestigious international award for excellence in risk management

Military Commercial Joint Stock Bank (MB) has once again been recognised for its leadership in risk management innovation, securing the Model Risk Manager Award from global financial services research and consultancy firm Celent.
lending slowdown threatens to delay real estate recovery

Lending slowdown threatens to delay real estate recovery

Commercial banks are taking a firm grip on lending activities, especially for the real estate sector.
regaining trust essential to bolster growth of credit

Regaining trust essential to bolster growth of credit

Some banks are at times reluctant to lend, regardless of their financial standing. Tran Ngoc Bau, CEO of WiGroup, a major provider of economic data and fintech solutions, talked to VIR’s Nhue Man about credit bottlenecks in the current context and how to boost credit growth in a healthy manner.
deposit interest rates continue to fall

Deposit interest rates continue to fall

More than 20 banks have cut interest rates for most terms since the end of February. Few banks have increased their rates, only applying the adjustment to a few deposit terms, such as at Sacombank, BacABank, and Saigonbank.
agritech startup techcoop raises 5 million

Agritech startup Techcoop raises $5 million

With financing from local VC firm Ascend Vietnam Ventures (AVV) and Singapore-based VC firm TNB Aura, agritech startup TechCoop Pte. Ltd. secured over $5 million in equity and debt from local banks on March 21. Ethos Ventures, South Korean impact investor MYSC, and Mandala Capital also participated in the fundraising.
fdi flows in vietnam forecast to boom this year

FDI flows in Vietnam forecast to boom this year

Vietnam will experience a breakthrough in foreign direct investment (FDI) attraction to the fields of technology, renewable energy, health, banking and real estate, according to world media.
moodys upgrades the outlook of techcombank 2024

Moody's upgrades the outlook of Techcombank 2024

The credit rating organisation Moody's on March 20 updated the outlook for Technological and Commercial Joint Stock Bank (Techcombank) to Stable.
japanese yen hits 16 year low against euro

Japanese yen hits 16-year low against euro

The Japanese yen fell to a 16-year low against the euro on Wednesday as the Bank of Japan indicated that monetary policy would remain loose even after shifting out of its negative interest rate environment.