banks expect higher profits from recovery

Banks expect higher profits from recovery

Many banks have planned higher profits this year as they expect better recovery in the economy.
banks set modest 2014 profit targets

Banks set modest 2014 profit targets

Most small and medium-sized banks have set modest profit targets in anticipation of continuing difficulties this year.
banks put forward ma plans

Banks put forward M&A plans

Several banks have recently presented plans or expressed intentions to complete mergers even as the nation continues to speed up the restructuring of credit institutions.
the state bank of vietnam and deloitte vietnam jointly held fatca conference

The State Bank of Vietnam and Deloitte Vietnam jointly held FATCA conference

A conference for updates on the Foreign Account Tax Compliance Act (FATCA), jointly held by the State Bank of Vietnam (SBV) and Deloitte Vietnam and attracting representatives from more than 130 credit institutions and foreign banks’ branches, took place in Hanoi last Friday.
bank merger deals near

Bank merger deals near

The banking sector is likely to see a series of merger and acquisition deals in the next few months after a series of banks announced their plans to merge with other credit institutions.
bailout funds await viable projects

Bailout funds await viable projects

As well as the Vietnamese government’s VND30 trillion ($1.4 billion) bailout package, the real estate market has received a VND50 trillion ($2.38 billion) commercial credit package. Banks are now collaborating with developers to try and support buyers through a range of preferential lending schemes. Phan Thanh Mai, general director of the Vietnam Construction Bank, tells VIR that the money is sufficient but there is a shortage of viable projects.
sbv moves on with plan to merge banks

SBV moves on with plan to merge banks

The State Bank of Viet Nam planned to merge six or seven more banks, SBV governor Nguyen Van Binh said.
banks offer property market credit

Banks offer property market credit

sbv postpones debt standards

SBV postpones debt standards

The State Bank of Viet Nam has issued a circular allowing commercial banks an additional year before applying new, strict debt classification standards.
visa mastercard block transactions for sanctioned banks

Visa, Mastercard block transactions for sanctioned banks

Visa and MasterCard have stopped servicing the credit cards of customers using Russian banks affected by the economic sanctions announced in Washington, the banks said on Friday.
local bank assets fall in january

Local bank assets fall in January

banks prepare to face change motivated shareholders

Banks prepare to face change-motivated shareholders

A tense agenda is expected at the annual general shareholder meeting of Ho Chi Minh City-based Sacombank scheduled to take place later this month, said a source familiar with the bank.
credit growth remains modest

Credit growth remains modest

five banks sued for manipulating gold price

Five banks sued for manipulating gold price

Five banks at the centre of London's gold trade have been sued in New York for manipulating prices, in the latest accusation of fraudulent collusion in the global finance hub.
banks prudent in 2014 profit targets

Banks prudent in 2014 profit targets

Banks’ profit targets for this year are proving very modest compared to those of previous years as they face mounting bad debts.