tight outlook with new offshore borrowing rules

Tight outlook with new offshore borrowing rules

On June 30, the State Bank of Vietnam (SBV), in an effort to address loopholes in previous regulations and offer a more comprehensive framework for non-government guaranteed offshore borrowing, issued Circular No.08/2023/TT-NHNN to replace Circular No.12/2014/TT-NHNN from August 15. Circular 08 has been adopted with significant changes compared to Circular 12.
policy credit supporting ex prisoners in their new lives

Policy credit supporting ex-prisoners in their new lives

Policy credit sources from Vietnam Bank for Social Policies (VBSP) have helped former criminals reintegrate into the community and lead a better life.
vietnams fintech gimo secures 171 million in series a funding

Vietnam’s fintech GIMO secures $17.1 million in Series A funding

GIMO, a prominent Vietnam-based fintech specialising in providing flexible pay and financial wellbeing solutions for under-banked workers, has just announced the successful completion of its Series A funding round, securing a substantial capital raise of up to $17.1 million.
the first line of credit cards to allow users to choose features

The first line of credit cards to allow users to choose features

In June, Vietnam International Bank (VIB) cooperated with American Express to launch its first white card, named Super Card. Tuong Nguyen, head of VIB's Card Strategy & Operation Centre, and Divya Jain, vice president and general manager of Global Network Services in Asia and South Pacific Growth Markets for American Express, talked to VIR's Thanh Van about the aim of the tie-up.
massive loan portfolio at sacombank under scrutiny following government audit

Massive loan portfolio at Sacombank under scrutiny following government audit

Sacombank faces intense scrutiny as a government audit exposes substantial loans tied to a single project and an array of potential regulatory violations, sparking concerns over the bank's internal control systems.
vietnamese banks prove attractive to foreign investors

Vietnamese banks prove attractive to foreign investors

A number of Vietnamese banks are grabbing interest of foreign investors who are major banks or financial groups.
vietnamese agribusiness ttc agris bags 100 million unsecured loan

Vietnamese agribusiness TTC AgriS bags $100 million unsecured loan

Thanh Thanh Cong-Bien Hoa JSC (TTC AgriS), one of Vietnam's frontrunning agribusinesses, inked a deal on July 20 to secure an unsecured loan of up to $100 million.
agribank chairman proposes additional capital injection

Agribank chairman proposes additional capital injection

During a recent conference reviewing Agribank's activities in the first half of 2023, chairman of the Board of Directors Pham Duc An put forward a proposal to increase the bank's charter capital. The move aims to ensure sufficient funds to support the bank's credit expansion goals.
aeon vietnam obtains 41 million loan to secure stronger footprint

AEON Vietnam obtains $41 million loan to secure stronger footprint

AEON Vietnam has been issued a $41 million loan from the Japan Bank for International Cooperation (JBIC) and Mizuho Bank to facilitate a greater footprint in the southern region.
lenders play the foreign equity game

Lenders play the foreign equity game

Vietnam’s banking sector, both traditional and digital, continues to draw significant foreign investment, signalling international confidence in the market’s growth potential.
insurance operations threatened by climate risks

Insurance operations threatened by climate risks

The insurance sector can be a game-changer by managing risks from climate change in Asia-Pacific, protecting ecosystems, and supporting the shift towards a sustainable future.
banks buckle up to tackle security issues head on

Banks buckle up to tackle security issues head on

Many local banks are wading through troubled waters as they strive to comply with personal data protection regulations, navigating the delicate balance between privacy rights, regulatory compliance, and cybersecurity.
vpbank ceo outlines policy responses and growth prospects amidst economic challenges

VPBank CEO outlines policy responses and growth prospects amidst economic challenges

At a virtual conference on July 16 to review the Vietnamese banking sector's first-half performance and plot its course for the remainder of the year, Nguyen Duc Vinh, CEO of Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), underscored the decisive role of the government and various sectors in stimulating the national economy.
substandard banks failing with cross ownership norms

“Substandard” banks failing with cross-ownership norms

Amidst rising concerns over cross-ownership practices in Vietnam’s rapidly evolving banking sector, experts are calling for effective mechanisms to ensure the independence and competency of board members, stringent sanctions, and better regulations on ownership ratios to bolster corporate governance.
credit bubble risk reality as banks hit lending capacities

Credit bubble risk reality as banks hit lending capacities

The availability of cheap capital has the potential to fuel subprime projects and activities, leading to a credit bubble risk for the economy.