techcombank ranks third in top 500 most profitable companies

Techcombank ranks third in top 500 most profitable companies

Passing over other banks, Techcombank ranks third among the top 500 most profitable companies in 2019 published by the Vietnam Report.
firms advised to use derivative tools to minimise forex risks

Firms advised to use derivative tools to minimise forex risks

Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.
shinhan finance joins vietnam banks association as 66th member

Shinhan Finance joins Vietnam Banks Association as 66th member

Shinhan Vietnam Finance Co., Ltd., a fully foreign-owned consumer finance company, has announced that it has become the 66th member of the Vietnam Banks Association (VNBA), effective from September 26, 2019 regarding VNBA approval No.31/QD-HHNH.
ha long city rises from services tourism

Ha Long city rises from services, tourism

Ha Long city of the northern coastal province of QuangNinh, located on the banks of the UNESCO World Heritage Site of Ha Long Bay, is still a popular tourist attraction with nearly 7.15 million visitors in the first eight months of this year, up 22 percent year on year.
sbv tightens loans with savings books as collateral

SBV tightens loans with savings books as collateral

The State Bank of Viet Nam (SBV) has warned local commercial banks to improve control of loans that use savings books as collateral to ensure the safety of the banking system.
banks profit growth forecast to slow in 2019

Banks’ profit growth forecast to slow in 2019

Profit growth of Vietnamese banks in 2019 is forecast to be lower than last year, but experts say this should not be cause for concern.
central bank says small companies should be able to access bank loans

Central bank says small companies should be able to access bank loans

A conference meant to link up banks with companies in the Mekong Delta was held in Can Tho City on August as part of efforts to ease the difficulties small and medium-sized enterprises in the region have in accessing credit.
banks warned about risks of real estate corporate bonds

Banks warned about risks of real estate corporate bonds

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms.
customers falling for fake bank clerk phishing scam

Customers falling for fake bank clerk phishing scam

Banks' customers are being targeted by new phishing attacks by criminals posing as bank officials and asking customers for their one-time password (OTP).
banks launch recruitment drives to prepare for year end

Banks launch recruitment drives to prepare for year-end

Several banks have recently announced they would recruit a large number of personnel to meet their business expansion plans in the last quarter of the year - the busiest time for banks.
more steps to be taken to downsize foreign currency loans

More steps to be taken to downsize foreign currency loans

Commercial banks will no longer allow the provision of mid- and long-term foreign currency loans for offshore payments of imported goods and services from September 30 this year.
top lenders latch onto fintech future

Top lenders latch onto fintech future

Banks and investment funds are racing to partner up with fintech businesses in their quest towards digitalisation.
banks keen on green projects

Banks keen on green projects

Green credit is a trend in the global banking and finance industry and more Vietnamese banks are following suit.
bancassurance becomes main service earner for banks

Bancassurance becomes main service earner for banks

Instead of the modest contribution made previously, the insurance business segment, or bancassurance (banks co-operate with insurers to sell insurance products), has now become the main source of income from service activities for many banks.
reference exchange rate adjusted down for second day on august 9

Reference exchange rate adjusted down for second day on August 9

The daily reference exchange rate was set at 23,102 VND per USD on August 9, down 5 VND from the previous day (August 8).