Vietnam makes significant progress in sustainable finance reforms, according to the second Global Progress Report of the IFC-facilitated Sustainable Banking Network (SBN).
The State Bank of Vietnam has approved Vietcombank and Vietnam International Bank to apply the Basel II standards from January 01, 2019, one year ahead of deadline.
A half of 16 finalists list in the first-ever Fintech Challenge Vietnam (FCV) which was officially revealed at the Asian Development Bank (ADB) – Viet Nam Resident Mission has come from Vietnam.
In only the first two months of this year, the banking, financial services and insurance sector (BFSI) of Vietnam received up to US$1.45 billion worth of investment.
The divestment in TechcomFinance is expected to help the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) record an extraordinary profit of more than VND1.1 trillion (US$48.4 million) in the first and second quarter of this year.
The Post and Telecommunication Finance Company which has lost for many years was auctioned with a starting price of VND500 billion (roughly US$22 million) by VNPT on February 1.
The amount of bad debt that the Vietnam Asset Management Company (VAMC) has to deal with this year accounts for nearly half of the total bad debts VAMC has bought from banks.
The information was given during the working session of Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, with Ocean Commercial Joint Stock Bank (OceanBank).
Leaders of Oceanbank (Ocean Commercial Joint Stock Bank) and Construction Bank (CB Bank) were recently prosecuted and two banks were acquired at VND0 by the State Bank of Vietnam (SBV). However, some have raised questions about how those newly acquired banks will be managed.
This is the result of the survey on business trends of credit institutions recently conducted by the State Bank of Vietnam.
The State Bank of Vietnam (SBV) is the largest shareholder in Vietcombank, with 77.11% stake amounting to VND2,200 billion (roughly US$98.58 million) dividends paid in cash for 2016 year.
The recent reduction in interest rates of the State Bank of Vietnam (SBV) is expected to stimulate the real estate market.
According to the draft circular of the State Bank of Vietnam (SBV), non-resident foreigners can deposit savings in both local and foreign currency at commercial banks, a positive move not only to limit speculation in the market but also guarantee legal reights for non-residents presenting in Vietnam.
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