Vietnamplus

Prime Minister Nguyen Xuan Phuc recently issued a disciplinary warning against Vu Van Ninh, Deputy PM in the 2011 – 2016 tenure, for his serious violations and shortcomings while performing duties.

The Vietnamese Government may allow European financial firms to buy up to 49 percent of only two local commercial banks, Nguyen Thi Thu Trang, Director of the WTO Integration Centre at the Vietnam Chamber of Commerce and Industry, said on October 23.

The market is forecast to move sideways with alternative ups and downs in a narrow range this week, analysts have predicted.

Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.

Low and late floods have further worsened saline intrusion in the Mekong Delta region, heard a workshop held in the Mekong Delta province of An Giang on October 4.

Le Bach Hong, former Deputy Minister of Labour, Invalids and Social Affairs and former General Director of Vietnam Social Security (VSS), was sentenced to six years in prison by the Hanoi People’s Court on September 25.

Six defendants charged with “deliberately violating the State’s regulations on economic management, causing serious consequences” at the Vietnam Social Security (VSS) and the Agribank Financial Leasing Company No. 2 (ALC II) were brought to court on September 18.

Leaders of the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) met in Phnom Penh on September 16 at an annual conference to share experience in macro-economy management, especially in finance-banking, and seek ways to strengthen cooperation in personnel training.

The People’s Court of Hanoi will hold the first instance trial from September 18-24 for six defendants in the case of “deliberating violations of State economic management regulations, causing serious consequences” at the Vietnam Social Security (VSS) and Agribank Financial Leasing Company No 2 (ALC II).

Local banks have raised their interest rates in a move to attract depositors and increase their medium- and long-term capital.

Prime Minister Nguyen Xuan Phuc has signed a decision approving a list of 93 State-owned enterprises which will be equitised from now to the end of 2020.

Green credit is a trend in the global banking and finance industry and more Vietnamese banks are following suit.

The Vietnam Bank for Agriculture and Rural Development (Agribank) has been named on the list of the Top 10 prestigious banks in Vietnam in 2019 by the Vietnam Report Company.

Most insurance stocks have underperformed despite a positive outlook for the Vietnamese insurance sector.

Some banks have unexpectedly announced they would cut interest rates on VND loans in the Government’s priority sectors to support firms in 2019, starting from August 1.

The Political Bureau of the Communist Party of Vietnam Central Committee on July 19 decided to issue a disciplinary warning against Vu Van Ninh, former member of both Party Central Committee and Government’s Party Civil Affairs Committee and former Deputy Prime Minister.

The State Bank of Vietnam (SBV) will hold its benchmark refinancing and discount rates at 6.25 percent and 4.25 percent, respectively, in addition to maintaining its 14 percent credit growth target for the remainder of 2019, experts forecast.

The Party Central Committee’s Inspection Commission has proposed the Politburo to consider and take disciplinary action against Vu Van Ninh, former member of the Party Central Committee and former Deputy Prime Minister, for his violations committed while holding different positions.

The banking sector reported a credit growth of 7.33 percent in the first half of this year compared to the end of 2018, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.

The State Bank of Vietnam (SBV) obtained a large amount of foreign currencies in the first half of 2019, pushing foreign exchange reserves recorded in the period to the highest level to date.