Vietnamplus

Moody's Investors Service has raised ratings of 12 Vietnamese banks following its upgrade of Vietnam's sovereign rating to Ba2 from Ba3.

Credit rating agency Moody’s has upgraded the long-term local and foreign currency deposit and issuer ratings of the Vietnam Bank for Agriculture and Rural Development (Agribank) to Ba2 from Ba3, and changed the outlook to stable.

The Ministry of Finance (MoF) has issued targets for restructuring banks in a bid to bolster the strength of Vietnam’s financial sector.

The Vietnam Bank for Agriculture and Rural Development (Agribank) hosted the Regional Policy Forum of the Asia-Pacific Rural and Agricultural Credit Association (APRACA) on July 20 in Hanoi.

The risk of a coal shortage and high input material prices have affected thermal power businesses, while hydropower enterprises are expected to benefit from the higher power selling prices compared to last year.

The group of State-owned banks has continued to maintain their leading position in terms of network coverage in the country’s banking industry.

The Vietnam Bank for Agriculture and Rural Development (Agribank) climbed 16 spots to 157th in the 2022 Brand Finance Banking 500 ranking, which features the most valuable and strongest banking brands in the world.

With an overall brand value growth of 49 percent, Vietnam’s banking sector is one of the fastest growing in the world, according to Brand Finance’s latest report on the most valuable and strongest banking brands globally.

Sixteen commercial banks cut over 21.24 trillion VND (936 million USD) of loan interest for COVID-19-hit customers from July 15 to December 31, 2021, surpassing their commitment by 5.13 percent, the State Bank of Vietnam (SBV) reported on February 9.

The community support fund of the Vietnamese Embassy and the Vietnam Bank for Agriculture and Rural Development (Agribank)’s subsidiary in Cambodia on December 9 presented 16,180 USD to the Khmer –Vietnam Association's chapter in Kandal province to fund the construction of a new headquarters for the chapter and the upgrading of its school.

The deposit interest rates at major banks has continued to decrease since the beginning week of September.

As the market is witnessing adjustments in the rate of ownership for foreign investors in banks, analysts say that it depends on the strategy and business plan of each bank from time to time.

The State Bank of Vietnam (SBV) will continue directing commercial banks to reduce interest rates for customers affected by the COVID-19 pandemic, said Deputy Governor Dao Minh Tu at the Government’s press conference on August 11. ​

The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 said it will cut lending rates in Vietnam dong for the fifth time.

The need to increase awareness and understanding of customers' financial services is increasing globally, and Vietnam - an emerging economy, is no exception, according to a report.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on May 26 donated a total of 38 billion VND (nearly 1.65 million USD) to finance the purchase of COVID-19 vaccines in 10 cities and provinces.

The Vietnam Bank for Agriculture and Rural Development (Agribank) jumped 17 spots to rank 173rd in the recently announced Brand Finance Banking 500 list for 2021, which featured the most valuable and strongest banking brands in the world.

Credit rating agency Moody's recently announced its rating upgrade on Agribank's long-term foreign-currency deposit rating from B1 to Ba3.

Five banks have donated a total of 25 billion VND (1.07 million USD) for the fight against the new COVID-19 outbreak that is hitting Da Nang city hard, according to the State Bank of Vietnam (SBV).

As of the end of June, the Vietnam Bank for Agriculture and Rural Development (Agribank) had disbursed 20.56 trillion VND (886.5 million USD) in credit to over 9,000 customers affected by the COVID-19 pandemic.