banks to soon complete basel iii international standards

Banks to soon complete Basel III international standards

Though there are currently no regulations that require the application of Basel III international banking standards, some banks have pioneered the implementation of the norms and are expected to complete the work soon.
central bank forecast to expand credit growth to 16 per cent

Central bank forecast to expand credit growth to 16 per cent

The State Bank of Viet Nam (SBV) might have to extend credit growth for the whole year 2022 to 16 per cent and grant more credit quotas to commercial banks in the near future as the pressure to loosen the credit room is strong, analysts forecast.
lenders juggle with tax info obligations

Lenders juggle with tax info obligations

Cybercriminals and the exposure of account information remain significant barriers for all stakeholders, with commercial banks now required to identify and collect holding information of customers to relevant authorities in a bid to fulfil tax obligations.
firm grasp of rules crucial in handling customer info

Firm grasp of rules crucial in handling customer info

The State Bank of Vietnam has issued a formal request to credit institutions and foreign bank branches for cooperation and information sharing with tax administration organisations. Le Khanh Lam, tax partner at RSM, discussed with VIR’s Le Luu how banks and tax agencies can harmonise the fresh legislation, and how barriers can be overcome without compromising customers’ rights.
the importance of mutual respect and face to face talks for strategies in ma

The importance of mutual respect and face-to-face talks for strategies in M&A

The Vietnamese government is now working to reorganise weak financial institutions, as well as implement equitisation of state-owned banks. Yoshizawa Toshiki, board member at Orient Commercial Joint Stock Bank, told VIR’s Luu Huong how the wave of tie-up deals could expand significantly if local authorities could lift the foreign ownership limit.
weaker banks on radar of major lenders

Weaker banks on radar of major lenders

The prospect for bank mergers and acquisitions in Vietnam is accelerating, notably the purchase of struggling credit institutions for the sake of reorganisation.
banks acknowledge womens changing role in business

Banks acknowledge women’s changing role in business

Financial institutions are looking to bridge the gender gap, with women all across the globe facing financial discrimination and suffering from less access to capital than their male counterparts.
finance ministry sets targets for banking system

Finance ministry sets targets for banking system

The Ministry of Finance (MoF) has issued targets for restructuring banks in a bid to bolster the strength of Vietnam’s financial sector.
which banks are in the top publicly listed companies in vietnam in 2022

Which banks are in the top publicly listed companies in Vietnam in 2022?

Seven commercial joint stock banks, namely Vietcombank, VietinBank, BIDV, VIB, ACB, MB, and TPBank, are among the top 50 listed companies in Vietnam.
banks should tighten assessment control of their corporate bonds investments experts

Banks should tighten assessment control of their corporate bonds investments: experts

Banks must tighten their assessment control of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said.
hanoi connects commercial banks with local businesses

Hanoi connects commercial banks with local businesses

More than 100 businesses and 43 investors of industrial clusters and nearly 20 commercial banks participated in a conference on August 15 to connect local firms of Hanoi with commercial banks and the Hanoi Development Investment Fund (HANIF).
squeeze in allotted credit room for commercial banks

Squeeze in allotted credit room for commercial banks

The rapid expansion of credit and lending activities in the first few months of this year have prompted commercial banks to run out of credit lines, which had been temporarily allotted by the State Bank of Vietnam at the start of the year.
localisation favoured by overseas banks

Localisation favoured by overseas banks

Vietnam’s banking and finance sector is witnessing an uptick in foreign banks’ presence despite global economic headwinds.
tightening management of virtual currencies to prevent money laundering sbv

Tightening management of virtual currencies to prevent money laundering: SBV

The State Bank of Vietnam (SBV) has given timely instructions to banks in order to prevent risks and acts that take advantage of virtual currencies in transactions, Deputy Governor Dao Minh Tu has said.
banks raise charter capital for new growth stage

Banks raise charter capital for new growth stage

A slew of local and foreign banks are increasing charter capital to prepare for the new growth phase of the banking industry and the economy.