Vietnam Banking News
Banks Bad Debt Ratio Alarming As New Debt Clarification Method
The debt clarification under Clause 7 of the State Bank of Vietnam (SBV)s Decision No 493 issued in 2005 will raise the bad debt ratio of a bank by 2-3 times as compared with doing it in accordance to Clause 6 of Decision 493.
Taiwan Chinatrust Partners With Sacombank to Tap Vietnam Market
Chinatrust Commercial Bank, a leading private bank in Taiwan, has recently been approved by Taiwanese Financial Supervisory Commission (FSC) to partner with Sacombank to tap Vietnam market. Chinatrust has in recent years tapped the market in Vietnam, setting up a branch in Ho Chi Minh City and a representative office
Lienvietbank Gains VND202Bln Pre Tax Profit In Jan-Apr
Lien Viet Commercial Joint Stock Bank (LienVietBank) posted VND202 billion of pre tax profit in the first four months this year. The bank reported over VND21 trillion of total assets, and over VND6.1 trillion of total outstanding loans.
Standard Chartered Viet Nam Denies Rumours
Standard Chartered Viet Nam denied rumours on May 18 that the bank intended to close "It is as business as usual in both Ha Noi and Ho Chi Minh City," said the banks chief executive, Ashok Sud, who pointed to misunderstandings of the banks conversion from a licensed foreign bank
Foreign Banks Dominate High Class Banking Services
Foreign banks are dominating the high-class banking services market segment which accounts for about 1.2-2% in the structure of customers at banks.
Kien Long Bank to Issue 100Mln New Shares
Kien Long Commercial Joint Stock Bank (Kienlong Bank) was approved to issue 100 million new shares at the face value of 10,000 dong per share to the public. Kien Long Commercial Joint Stock Bank (Kienlong Bank) was approved to issue 100 million new shares at the face value of 10,000
Vietcombank readies bond issue totalling $265mil
Vietcombank will issue bonds totalling VND5 trillion (US$264.55 million) to generate capital for business development, improve infrastructure and ensure a capital adequacy ratio of at least 10 per cent of total capital, under a plan approved this week by the State Bank of Viet Nam.
Rising interest rates attract only short-term deposits
While commercial banks need long term capital, they can only raise short term deposits. When her three month term deposit matured, Hang decided to re-deposit the money at Habubank. After considering offered interest rates, Hang decided to make a one month term deposit with an interest rate of 11.3 percent
The Bank for Investment and Development of Vietnam (BIDV) opened its first branch in Cambodia on May 15. It is called the Vietnamese-invested Bank of Investment and Development of Cambodia (BIDC).
Few anxious about chartered capital deadline
Banks are persuading big shareholders to inject more capital in the banks to meet the required three trillion dong chartered capital level set by the State. Meanwhile, banks without big shareholders will seek strategic partners since the plan to raise capital through stock shares has failed.
Popular Vietnam Business News
Tasco plans to raise chartered capital to 135 billion dong
In details, the company will issue 5.5 million shares for existing shareholders with par value of 10,000 dong per share, under the ratio of 1:1 or one old share for
Vinashin Affiliate Launches First Car-carrying Ship
. Ha Long Shipbuilding Company, an affiliate of Vietnam Shipbuilding Industry Group (Vinashin), launched a 70,000 DWT car-carrying vessel on Tuesday, July 21 in the northern province of Quang Ninh.
Tolls proposed on cars using downtown streets
The citys Tien Phong Technology Joint Stock Company has proposed starting toll collection on cars using downtown streets from January 2012 with a fee level from US$1 to US$2, or
Vietnam hub recalls milk with content deficiencies
Health inspectors in Ho Chi Minh City on Wednesday ordered the recall of five milk products that did not contain the quantity of protein announced on their labels, and suspended
Leap in exports pushes trade deficit to $5.4b in five months
The countrys trade deficit reaches US$5.4 billion in the first five months of the year, according to experts from the General Statistics Office (GSO). The trade deficit was equivalent to
World Bank Predicts US$2.6B Surplus in Vietnam Balance of Payments in 2010
An excess of US$11.7 billion in the capital account will help Vietnam cover a shortfall of US$9.1 billion in the current account this year, the Hanoi-based Chief Economist Martin Rama
HCM City holds global marketing expo
The countrys first-ever International Advertising Equipment and Technology Exhibition opened August 5 in HCM City. The three-day event, Vietad 2010, has attracted more than 150 booths and nearly 70 domestic
Businesses weary of revised automatic import license procedure
Long Quoc Trung, Director of Matsu Electronics, a distributor of refrigeration equipment from Malaysia, said he is nervous because after two weeks, he still has not got confirmation of his
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