Commercial banks report high profits in 2017 Business

Commercial banks report high profits in 2017

Vietnam’s commercial banks reported solid results for 2017 with the total after-tax profit estimated to grow 44.5 percent from the previous year, according to an independent report of the National Financial Supervisory Commission.
Vietcombank divests from two firms Business

Vietcombank divests from two firms

Vietcombank on November 20 was estimated to receive 15.2 million USD from selling its entire stakes in SaigonBank and Vietnam Cement Finance Company (CFC).
Tien Sa Port gets fund to expand Business

Tien Sa Port gets fund to expand

The central Da Nang city’s Investment and Development Fund has agreed to provide a 7.9 million USD loan to the Da Nang Port joint-stock company to upgrade and expand the Tien Sa Port.
Vietcombank appoints first foreign director Business

Vietcombank appoints first foreign director

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on October 20 appointed Thomas William Tobin as Retail Banking Director, the bank’s first foreign senior executive.
Japanese banks expand investments in Vietnam Business

Japanese banks expand investments in Vietnam

Some Japanese banks already operating in Vietnam have revealed their plans to expand investments, while others hope to make inroads into the market, according to Dau Tu (Investment) newspaper.
SBV: Bank security lacking Business

SBV: Bank security lacking

In light of recent widely reported cases of banking fraud related to automatic teller machine (ATM) transactions, the State Bank of Vietnam (SBV) has advised the public to remain calm and adhere to banks’ regulations, while urging the banks to plug security holes.