vn shares jump led by banks

VN shares jump, led by banks

Vietnamese shares rose on both local bourses yesterday, led by the financial sector after it was announced that a large amount of bad loans were sold to the Viet Nam Asset Management Corporation during the third quarter.
banks pull down vn shares

Banks pull down VN shares

Vietnamese shares extended their losses on bothlocal exchanges this morning, led by banks, after the European CentralBank (ECB) cut interest rates last night.
vn shares close mixed

VN shares close mixed

Vietnamese shares ended mixed on the two local bourses this morning, while banks made slight gains after a short pause yesterday.
banks urged to use latest it

Banks urged to use latest IT

Domestic commercial banks need to give top investment priority to information technology if they want to develop better retail banking strategies, according to independent market watchdogs.
banks lead market lower

Banks lead market lower

Shares declined this morning on the HCM Stock Exchange, reducing the gains made yesterday, when the benchmark VN-Index inched down 0.3 per cent to close at 594.13 points.
potentially irrecoverable debts continue to rise

Potentially irrecoverable debts continue to rise

Though non-performing loans (NPLs) of commercial banks have dropped, their potentially irrecoverable debts have surged significantly, according to bizlive.vn.
banks switch to online tax payment

Banks switch to online tax payment

The Ministry of Finance has instructed commercial banks to completely stop over-the-counter tax payments and work with tax agencies to implement online tax payments by the beginning of December.
rising demand for uber cars cheap loans boost car sales in vietnam

Rising demand for Uber cars, cheap loans boost car sales in Vietnam

Many Vietnamese are buying new cars financed by soft loans widely offered by local banks, reflecting demand for serviced cars, especially Uber, as they find joining the U.S-headquartered app-based car service provider will give them a good source of income.
citi innovates with hi tech network

Citi innovates with hi-tech network

In an exclusive interview on a recent visit to Vietnam, Citi CEO Mike Corbat discussed Citi’s transformation into a simpler and safer institution that still banks companies and individuals across the world, and that is on track to meet its financial targets. He also discussed the important contributions from Asia and Vietnam and the outlook for the TPP.
local banks draw foreign interest

Local banks draw foreign interest

Commercial banks expect to attract foreign investment in their newly-established financial companies thanks to the profitable domestic consumer financial market, according to Dau tu (Investment) newspaper.
local banks profitability falls

Local banks' profitability falls

Profitability of domestic commercial banks has reduced compared to previous years due to rising risk provisions for non-performing loans, according to a report from the National Financial Supervisory Commission (NFSC).
investors cautious over bank shares

Investors cautious over bank shares

Though local state-owned enterprises wishes to sell stakes in banks to which they contributes capital, no foreign investors want to buy such stakes unless the foreign ownership limit at banks is lifted.
vn shares extend rally

VN shares extend rally

Vietnamese shares continued to advance, rising slightly this morning on both local exchanges, led by banks' performances.
mof denies banks tax breaks despite restructuring efforts

MoF denies banks tax breaks despite restructuring efforts

The Ministry of Finance has refused to offer preferential tax policies to credit institutions that are participating in the restructuring of the banking sector.
new flexible bond to be issued against banks bad debts

New, flexible bond to be issued against banks' bad debts

The Vietnam Asset Management Company has begun to issue a new class of bond against bad debts it buys from credit institutions, one that can be traded between the central bank and lenders as well as among the latter.