vietinbank local bank for foreign enterprises

VietinBank: Local bank for foreign enterprises

With the advantage of being one of the largest local banks in Vietnam, well-equipped with in-depth knowledge of the country’s business and regulations, VietinBank is determined to become the local bank for international businesses. The bank is also amongst the licensed banks that provides investment capital account services for international investors.
banks to cut costs to aid covid 19 affected firms

Banks to cut costs to aid COVID-19 affected firms

The State Bank of Viet Nam (SBV) has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.
banks weigh up options through exchange shake up

Banks weigh up options through exchange shake-up

A number of Vietnamese banks have accelerated their initial public offering process or switched exchanges, signalling ambitions to tap into the potential of large capital inflows, despite the market remaining highly volatile.
banks consumer companies boost vn market

Banks, consumer companies boost VN market

Vietnamese shares gained slowly on Wednesday morning, driven by banking and consumer staples sectors.
banks cut home loan interest rates

Banks cut home loan interest rates

Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
foreign banks pour capital into vietnam

Foreign banks pour capital into Vietnam

The International Finance Corporation (IFC), a member of the World Bank Group, announced on August 11 that it will provide a 70 million USD loan to Indo Trans Logistics Corporation (ITL Corp), with the aim of improving logistics, trade and competitiveness in Vietnam’s economy amid the COVID-19 pandemic.
banks are racing to catch digitisation trend expert

Banks are racing to catch digitisation trend: expert

Vietnam has seen a digital wave in the finance-banking industry, with many lenders investing significantly in digitisation, experts have said.
reference exchange rate stable despite record gold prices

Reference exchange rate stable despite record gold prices

The State Bank of Vietnam set the daily reference exchange rate at 23,208 VND per USD on August 5, down 6 VND from the previous day.
ifc loans to vpbank and ocb to boost finance for local businesses

IFC loans to VPBank and OCB to boost finance for local businesses

The International Finance Corporation (IFC) is providing $140 million in loans to VPBank and OCB to help the two banks support local businesses with disrupted cash flows sustain operations and maintain employment.
shares rebound as banks and energy gain all eyes on virus measures

Shares rebound as banks and energy gain, all eyes on virus measures

Hanoi - A rise in beaten down banking and energy stocks helped Vietnamese shares rebound on Thursday as investors pinned hopes on the Government’s drastic measures to tackle the COVID-19 outbreak.
banks act carefully amid uncertainties

Banks act carefully amid uncertainties

As the global health crisis continues to inflict hardship on every sector, both international and domestic banks are becoming more risk averse in order to keep their businesses afloat, while trying to get rid of bad loans.
central bank considers changing roadmap for ratio of short term funds for long term loans

Central bank considers changing roadmap for ratio of short-term funds for long-term loans

The State Bank of Vietnam was considering changing the roadmap for adjusting the ratio of short-term funds used for medium and long-term loans, with the aim that banks could lower lending costs and provide preferential rates to aid post-pandemic recovery.
banks to sell collateral assets amid fears of rising bad debts

Banks to sell collateral assets amid fears of rising bad debts

A number of banks have announced plans to auction off their collateral assets in an attempt to speed up bad debt recovery.
new preferential lending rates assisting recovery

New preferential lending rates assisting recovery

Vietnamese and international banks are slashing lending rates to help cash-squeezed clients to weather the storm to lift the domestic economy out of its current difficulties.
banks pump out bonds as trade will soon be restricted

Banks pump out bonds as trade will soon be restricted

Banks have stepped on the gas in bond issuance in the first half in anticipation of regulatory amendments which will impose restrictions on bond trading from early September.