Indonesia lowers 2019 credit growth target World

Indonesia lowers 2019 credit growth target

The Indonesian Financial Services Authority (FSA) has revised the credit growth in 2019 down to the range 8-10 percent from the range of 12-14 percent it forecast in the middle of the year.
Philippines benefits from global trade tensions World

Philippines benefits from global trade tensions

The Philippines has gained from the trade war between the US and China, according to a review of export data of the country in the first seven months of 2019 by Maybank Kim Eng analysts.
Banks, insurers boost bancassurance to get returns Business

Banks, insurers boost bancassurance to get returns

Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
HDBank wins Asiamoney award Business

HDBank wins Asiamoney award

The Housing Development Bank (HDBank) received Asiamoney’s award for the best bank in Vietnam as chosen by corporate clients at a recent ceremony in Beijing, China.
PetroVietnam to complete divestment by 2020 Business

PetroVietnam to complete divestment by 2020

Deputy Prime Minister Vuong Dinh Hue has released a list of State-owned enterprises from which the Vietnam Oil and Gas Group (PetroVietnam) must reduce its ownership between 2017 and 2020.
State Bank of Vietnam lifts lending ceiling Business

State Bank of Vietnam lifts lending ceiling

The State Bank of Vietnam (SBV) has allowed some lenders to raise their credit growth ceiling this year in a move to boost economic growth, according to Thoi bao Ngan hang (Banking Times).
Insurance market expected to bloom in ASEAN World

Insurance market expected to bloom in ASEAN

The Southeast Asia region’s insurance market will continue to reap success once the ASEAN Economic Community (AEC) is formed at the end of 2015, said Singapore’s Straits Times.
Business

Retail banking the wave of the future: experts

The trend towards retail banking will only get stronger in Vietnam as banks realise the vast potential of the market, experts said at the ASEAN Banker Forum held on November 19 in Ho Chi Minh City.
Business

Thai Binh power plant credit agreement reached

The Vietnam Oil and Gas Group (PetroVietnam) and its Japanese partners signed an export credit agreement worth 141 million USD to purchase equipment for the Thai Binh 2 Thermal Power Plant Project in Hanoi on August 22.
Japan banks finance highway project in Vietnam Business

Japan banks finance highway project in Vietnam

A credit agreement for the Hanoi-Hai Phong Highway project was signed on Feb. 22 in Tokyo between the Vietnam Development Bank (VDB) and Sumitomo Mitsui Bank Corporation (SMBC) and Citibank of Japan.
Business

Foreign banks boost retail services

Foreign banks are racing to expand retail services by launching more services and subsidiaries as Vietnam approaches the time for opening the door to all banking services.
PVN signs ISDA contracts with foreign banks Business

PVN signs ISDA contracts with foreign banks

The Vietnam National Oil and Gas Group (PVN) signed in Hanoi on Sept. 9 three standardised ISDA contracts with foreign banks as the basis for derivative transactions in the future.