The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Viet Nam (SBV) Le Minh Hung.

The State Bank of Vietnam set the daily reference exchange rate at 23,166 VND/USD on January 10, down 7 VND from the previous day.

The recent rising appetite for M&A in Vietnamese banks from South Korean investors may be a positive sign reflecting a brighter economic outlook and a hunger for growth.

The commercial banks’ preferential interest rates will be remain unchanged at 5 per cent for social housing this year, according to a decision of the State Bank of Viet Nam (SBV).

Shares bounced back on Tuesday morning, propped up by the banking sector.

The pressure to increase capital and modernise governance are becoming a focus for many financial institutions. In this context, several organisations have actively implemented important requirements under Circular No.13/2018/TT-NHNN covering a broad range of critical aspects of governance, risk management, internal control, internal capital adequacy assessment procedure (ICAAP), and internal audit. As a leading international consulting & audit firm in Vietnam, KPMG closely follows this trend in the Vietnamese banking system. According to KPMG, TPBank has put serious effort and resources into complying with Circular 13’s ICAAP requirement and to have met ICAAP’s stringent international standards. Pham Do Nhat Vinh, director of Financial Risk Consulting Services at KPMG Vietnam, gives some exposure to TPBank’s case and local credit institutions’ movements in this regard.

It is a common narrative in some circles: established banks are dinosaurs about to be disrupted. This story seems intuitive because it echoes the disruption we have seen in other industries, from the way that new players moved shopping online in the 1990s, to the way the music and video industries were disrupted by streaming.

The State Bank of Vietnam set the daily reference exchange rate at 23,150 VND/USD on January 2, down 5 VND from the previous day.

The doors for coal-fired power projects in Vietnam are narrowing shut as international institutions and banks tighten financing and even exit coal-fired ventures, piling pressure on the country to create reasonable power sources for Vietnam’s future energy mix.

Global ratings agency Moody’s last week dealt a fresh blow to Vietnam’s financial sector by downgrading the outlook of 18 banks to reflect disquiet among investors, following the agency’s confirmation a few days earlier of Vietnam’s Ba3 sovereign rating.

Viet Nam’s Government bond (G-bond) market would become a safe, effective and highly lucrative investment mechanism for commercial banks, insurance networks, investment funds and foreign investors.

Issued in 2018, Circular No.13/2018/TT-NHNN of the State Bank of Vietnam has a raft of requirements, including ICAAP, forcing banks to re-consider their business model toward higher integration.  

On November 27, locally-invested BAC A BANK received the “Outstanding Bank for Green Credit Award” within the Vietnam Outstanding Banking Awards 2019 (VOBA) co-organised by International Data Group (IDG) and the Vietnam Banks Association.  

Economic development has improved living standards – at times at the expense of the environment. As green development is becoming an imperative, financial institutions – particularly banks – are earning high regard with their green credit approach.

The credit agreements reinforce the growing relationship between Vietjet and regional banks to diversify capital sources.