Firm grasp of rules crucial in handling customer info
August 29, 2022 | 08:00
The State Bank of Vietnam has issued a formal request to credit institutions and foreign bank branches for cooperation and information sharing with tax administration organisations. Le Khanh Lam, tax partner at RSM, discussed with VIR’s Le Luu how banks and tax agencies can harmonise the fresh legislation, and how barriers can be overcome without compromising customers’ rights.
Foreign bank moves pointing to repositioned focus
April 27, 2021 | 20:00
Banking giant Citigroup has decided to shut down its retail division in 13 markets, including Vietnam, to reset focus on institutional clients. Kent Wong, partner, head of Banking and Capital Markets at VCI Legal, explained to VIR’s Celine Luu why some foreign lenders are withdrawing, and how fierce the competition between international and locally-invested banks is in Vietnam.
Government mulls tightening foreign bank laws
August 24, 2018 | 11:11
Experts have agreed with the Government’s plan to restrict or even stop licensing wholly foreign-owned banks in Vietnam, saying it was necessary to help increase the stability of the domestic banking system.
SBV tightens corporate bond purchase by banks
June 20, 2018 | 10:27
State Bank of Viet Nam has tightened regulations on corporate bond purchase by credit institutions and foreign banks’ branches.
Foreign banks’ withdrawal no cause for concern
March 14, 2018 | 11:51
The trend of foreign financial institutions withdrawing capital from their Vietnamese joint ventures has raised questions about the country’s state of financial stability, but experts claim the situation is no cause for alarm.
Formosa’s $8.9bn project in trouble
June 18, 2012 | 13:36
Formosa Plastics Group’s $8.9 billion steel and seaport project is under threat from fund mobilisation woes and water supply concerns.
New circular to enforce independent audits
December 19, 2011 | 16:10
All credit institutions and branches of foreign banks in Vietnam will have to obey rules on independent audit beginning January 1, according to a new circular issued on December 15 by the State Bank of Vietnam (SBV).
Small banks need to make big impressions
August 22, 2011 | 09:00
Vietnam’s banking sector needs a shake-up with too many banks offering not enough services.
Equity hunt on to help FDI aims
February 21, 2011 | 08:00
Foreign bank branches are raising their equity to fund foreign direct investment projects in Vietnam.
Thumbs up for foreign bank capital expansions
February 16, 2011 | 14:00
The number of foreign bank branches receiving State Bank of Vietnam’s approval to increase their registered capital to support their credit operations in Vietnam has kept increasing.
Local treatment to not cause waves
January 11, 2011 | 10:00
Full national treatment of local currency deposits in foreign bank branches in Vietnam from this year will not cause fiercer competition between local banks.
SBV to ease foreign banks’ procedures
December 05, 2010 | 23:15
The central bank is set to ease strains on foreign and locally incorporated banks in Vietnam, offering clear legal procedures for lending activities.
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