A number of banks recorded impressive growth in the first quarter and set a relatively strong profit growth target this year.
Saigon Joint Stock Commercial Bank (SCB) has announced the decision on appointing Chen Yi-Chung (Jeremy Chen) as acting CEO. This appointment is amid the drastic implementation of the transformation and sustainable development strategy for 2020-2030 at SCB with strategic consultations from McKinsey & Company.
The latest regulatory requirements make it impossible for banks to continue delaying their listing plans.
With high profitability and a strong rebound, local banks are becoming tempting targets for foreign investors mulling over stake purchase deals.
For the first time, a Vietnamese sugar company engages in a strategic capital-raising deal of international significance, which not only contributes to the company’s sustainable development, but also to that of the Vietnamese sugar industry.
Small banks are mulling over capital hikes and listing plans amid favourable market conditions and rosy business performance.
With the rapid development of the Fourth Industrial Revolution in recent years, the banking and finance industry has rapidly adopted advanced technologies. ChatBot is one specific application that has been launched by many banks and financial institutions around the world as well as in Vietnam to provide prompt support to customers.
Banks are confident in reaching their full-year profit targets albeit the central bank is unlikely to loosen banks’ credit growth limit in the second half.
The current challenges brought about by changes in the business environment and increasing requirements of risk management regulations have promoted banks, including Eximbank, to synchronise particular products.
US-based Bank of New York Mellon on July 9 granted Eximbank the Straight Through Processing Award (STP Award).
Many banks are set to hike charter capital to boost their financial strength through stock issuances to pay dividend for the shareholders.
Despite significant efforts to resolve bad debts over the course of 2017, commercial banks will likely carry a total VND60 trillion ($2.64 billion) of bad debts into 2018.
Throughout the annual general shareholders’ meeting (AGM) season, bad debt resolution and hefty risk provisions were the most worrisome issues emerging in the banking sector in since the beginning of 2017.
Over the past several years, the Vietnamese consumer finance market showed undeniable charm to foreign investors with the forecasted market value of nearly $1 quadrillion by the end of 2018.
Recently, State Bank of Vietnam (SBV) has approved of Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) raising its charter capital for the second time by around $43 million, from VND8.8 trillion ($388.7 million) to VND9.8 trillion ($431.9 million), joining the top 10 Vietnam-based banks having the largest charter capital.