Banks slash fees for interbank fund transfers Business

Banks slash fees for interbank fund transfers

Thirty-seven commercial banks have confirmed the reduction of fees for fast interbank fund transfers following the move of the National Payment Corporation of Viet Nam (NAPAS) to halve the switching fees for local banks from March 25.
Bancassurance becomes main service earner for banks Business

Bancassurance becomes main service earner for banks

Instead of the modest contribution made previously, the insurance business segment, or bancassurance (banks co-operate with insurers to sell insurance products), has now become the main source of income from service activities for many banks.
ACB becomes seventh bank to meet Basel II standards Business

ACB becomes seventh bank to meet Basel II standards

The Asia Commercial Bank (ACB) late last week was officially given approval from the State Bank of Vietnam (SBV) to apply Basel II standards, raising the number of Vietnamese banks meeting the global norms ahead of the SBV’s schedule to seven.