banks

Update news banks

Foreign eye banks, real estate

 VietNamNet Bridge – The increasing signs of an economic recovery have bolstered investor confidence and laid the foundation for more foreign investors to dip their toes in Vietnam’s stock market in the coming time, experts claim.

Financial market: Interest rate, exchange rates up, stock index down

VietNamNet Bridge - Increasing demand for loans in Vietnamese dong has caused the lending interest rate to rise, while the stock market has been hurt by US dollar appreciation. 

Challenges await banks this year

 VietNamNet Bridge – Bankers said 2015 will remain a challenging year though some banks have reported higher earnings and there have been more positive signs in the local economy.

Vietnamese bankers gear up for e-banking

VietNamNet Bridge – Analysts have every reason to believe that the fiercest competition among banks is a technological one.

Banks change CEOs while crossing the stream

 VietNamNet Bridge – Commercial banks have seen significant changes in leadership regularly over the last two years.

BUSINESS IN BRIEF 25/8

 Local gold consumption takes nosedive; Metro Cash & Carry ownership change unnerves local suppliers; Banks report high bad debt in first half; Binh Duong offers preferential loans to riot-hit firms

Banks suffer to build risk funds

 VietNamNet Bridge – Several small Vietnamese banks have posted losses in Q2 after setting aside risk provision funds to control risks and push ahead with restructuring.

Banks’ settlement of debts hindered by asset regulations

 VietNamNet Bridge – The regulation that banks cannot sell mortgaged assets below face value is the biggest barrier hindering debt settlement.

More banks to take over finance companies under new decree

 VietNamNet Bridge – Analysts predict a new wave of commercial banks taking over finance companies following a new government decree.

More bank M&A deals expected in second half of 2014

 VietNamNet Bridge – Although only one merger & acquisition (M&A) deal was announced in the first few months of the year, more are expected in the second half of the year.

Vietnamese banks on track for listings

 A majority of Viet Nam's commercial banks are planning to list on one of the two national indices by 2015, according to HCM City Stock Exchange deputy general director Tran Anh Dao.

Businesses die, capital flow stagnates as banks look for borrowers

 VietNamNet Bridge – The national economy remains weak with more and more businesses dissolving and capital flow stagnating because banks cannot find borrowers.

Businesses rush to buy dollars, betting on carry-trade deals

In its report released on July 2, the Vietnam National Finance Supervision Council highlighted the sharp increase in outstanding loans in foreign currency, warning that there is pressure on foreign currency liquidity.

Banks join to connect traffic, building firms

 VietNamNet Bridge – Eight banks, on Wednesday, signed agreements to provide services that help link subjects involved in construction and traffic development, local press reported.

Commercial banks are indifferent to SBV refinancing

Surprisingly, no commercial bank has asked for refinancing from the State Bank (SBV), although SBV is ready to disburse funds.

Banks entice local, foreign firms

 VietNamNet Bridge – With bank lending rates falling sharply in recent months, companies should grab this opportunity to borrow to develop their business, analysts said.

Finance companies, banks fight for share of consumer-loan market

 VietNamNet Bridge – Finance companies are flexing their muscles as they prepare to go head-to-head with commercial banks for a share of the profitable consumer-loan market.

Banks fail to build customer loyalty

 VietNamNet Bridge – Vietnamese customers are not loyal to retail banks, as 65–77 per cent of surveyed people were ready to close their banking accounts and change to another bank.

Vietnam execs well-paid despite poor performance

 VietNamNet Bridge – Though Vietnamese businesses are experiencing the toughest days in their histories due to the economic downturn, their CEOs still “live well” with surprisingly high incomes.

BUSINESS IN BRIEF 23/5

 92.5 percent of riot-hit firms in Binh Duong reopen; Vietnam’s sole oil refinery closed for full maintenance; Banks slash salaries and cut jobs; Mekong Delta agriculture fails to live up to potential