bidv first off block to get global ratings

BIDV first off block to get global ratings

The State-owned Bank for Investment and Development of Vietnam has become the first bank in the country to be assessed by an international ratings agency, as the bank prepares for equitisation next year.
sale limits relaxed for banks

Sale limits relaxed for banks

Foreign credit institutions may be allowed to acquire shares in up to two joint stock commercial banks and up to a maximum 20 per cent of a joint stock bank’s chartered capital, according to the latest draft decree on foreign credit institutions buying shares in local banks.
experts take stock of new government banking draft

Experts take stock of new government banking draft

Vietnamese authorities will tighten control on minimum chartered capital and governance experiences to limit the number of newly established banks in the country, according to a draft decree on banking governance.
sbv demands more power

SBV demands more power

The State Bank of Vietnam has made a proposal to amend the existing State Bank Law and the governmental decree on its structure in order to increase its powers and allow the institution to act as a real central bank as the country prepares to enter the World Trade Organization.
banks face scrutiny

Banks face scrutiny

State-owned commercial banks may soon have to make public their annual financial reports from the second quarter of the year.

Intel chips in to record growth

A $605-million project committed by the world’s largest microchip maker, Intel Corp, has given a big boost to Vietnam’s investment figures in the first two months of the year, helping the country register a record 15 per cent year-on-year increase in pledged capital.
sbv calls for regulation of foreign bank affiliates

SBV calls for regulation of foreign bank affiliates

The central bank has asked the government to issue a decree to regulate 100 per cent foreign-invested affiliates of foreign banks in Vietnam as part of the country’s bid to join the World Trade Organisation.

SBV prods SOEs to clear bad debts

The State Bank of Vietnam (SBV) has called for the government to tighten regulations on debt repayments by state-owned corporations undergoing equitisation, in order to clear up the bad debt status of several state-owned commercial banks.
vietnam strives to break countrys dollar reliance

Vietnam strives to break country’s dollar reliance

Vietnam has unveiled measures designed to increase the use of the dong and decrease the economy’s reliance on the US dollar by 2010.
sbv pushes more coins less notes

SBV pushes more coins, less notes

The central bank is pushing forward with its plan to increase consumer coin usage by urging the government stop issuing low denomination paper notes, in a bid to empty peoples’ pockets of old money.

Foreign firms set for joint-stock bank buy

Foreign credit institutions will be entitled to buy a larger stake of domestic credit joint-stock institutions, a senior State Bank official said last week.