Vietnamplus

Thirteen commercial banks and securities firms will be allowed to join the debt market or Government bonds (G-bonds) market in Vietnam this year.

The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Vietnam (SBV) Le Minh Hung.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said it has reached the target of 1 billion USD in profit one year ahead of schedule.

It was a surprise as a number of domestic commercial banks have reported big profits after years of poor performance, but this showed the country’s business environment has improved.

After proposing the Government amend Decree 91/2015/ND-CP, the State Bank of Vietnam (SBV) will coordinate with the Ministry of Finance to seek the Prime Minister’s approval for increasing capital for banks.

In recent days, many domestic banks have lowered both deposit and lending interest rates for short-term VND loans to support businesses in the year-end months.

Domestic banks are in a position to complete their 2019 profit targets if they finish the year on a high.

With the growing middle class and increasing purchasing power, the consumer goods and e-commerce sector in Vietnam has become very attractive to Singaporean businesses.

Domestic banks forecast that the lending interest rates would drop in line with the government’s policy to support production and business activities of enterprises.

Shares of four Vietnamese banks may rise 14-68 percent in 12 months, according to JP Morgan’s Asia Pacific Equity Research.

The Vietnam Report JSC and online newspaper VietNamNet held a ceremony in Hanoi on November 6 to announce the Profit500 2019 list.

Among the 10 most profitable firms in the banking – financial – securities sector in 2019, banks continue to be the focus of attention while the “trillions-of-VND” club has seen changes.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on November 1.

Vietcombank is heading to Australia and could open for business in Sydney within the next 24 months.

Domestic banks have recently been warning their customers about new online scams.

The Vietnamese insurance market is heating up with many high-value bancassurance deals and mergers and acquisitions (M&A) unveiled recently.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been named the Best Domestic Bank in Vietnam, the Best Bank for SMEs in Vietnam and the Most Outstanding Company in Vietnam – Financial Sector by Asiamoney magazine.

Insurer FWD Group Ltd. is nearing an agreement to pay about 400 million USD for a unit of the Bank for Foreign Trade of Vietnam JSC (Vietcombank), and a long-term insurance distribution agreement with the bank, Bloomberg reported.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has entered Vietnam’s 50 best listed companies in 2019 by Forbes Magazine for the seven consecutive years.

Smart OTP (One Time Password) is born right on the customer's phone and is encrypted with a complex multi-layer security system that is difficult to intervene in.