Vietnamplus

The deposit interest rates at major banks has continued to decrease since the beginning week of September.

Commercial banks have continuously announced lending interest rate reductions to support and accompany customers to overcome the adverse impacts of the COVID-19 pandemic.

National flag carrier Vietnam Airlines on July 7 signed a credit deal – worth total of 4 trillion VND (173.7 million USD) – with three commercial banks, which are expected to weather the financial impact of the COVID-19 pandemic.

Many banks have reported high profit in the first half of 2021 despite impacts of COVID-19 pandemic.

The National Payment Corporation of Vietnam (Napas) and 14 first banks of Vietnam on June 15 launched the VietQR trademark and quick online money transfer service – Napas 247 using QR codes.

Three credit institutions have committed to sponsoring the national flag carrier Vietnam Airlines to get loans worth 4 trillion VND (173.67 million USD), an official from the State Bank of Vietnam (SBV) said on June 21.

The Central Committee of the Vietnam Buddhist Sangha (VBS) will hand over 200 million VND (8,600 USD) to the Vietnam Fatherland Front Central Committee in coming days to join hands with the nation in the fight against the COVID-19 pandemic.

Many banks have announced their dividend payout plan in shares to raise capital and improve competitiveness amid the prolonged COVID-19 pandemic.

Prudential Vietnam Assurance Private Limited, a subsidiary of Prudential Plc, and Vietnam Maritime Commercial Joint Stock Bank have renewed their strategic bancassurance partnership for another 15 years.

Currently, more than 20 commercial banks are adopting the standard version of Basel II, of which 12 have completed all three Basel II pillars ahead the deadline, namely VIB, Vietcombank, SeABank, VPBank, TPBank, MSB, VietCapitalBank, Shinhan Vietnam, SHB, LienVietPost Bank, HDBank, and Viet Capital Bank.

Banks are sprinting to transfer the listing of shares from Unlisted Public Company Market (UpCom) to official bourses before the Law on Securities takes effect from the beginning of 2021, which would require two-year listing on UpCom before a public company could go to official bourses.

A ceremony for the Vietnam Outstanding Banking Awards 2020 was held by the Vietnam Banks Association and International Data Group Vietnam (IDG Vietnam) on November 26 in Ho Chi Minh City.

Many banks have gained significant profit increases from foreign exchange (forex) trading this year, figures show.

Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital.

The Southeast Asia Commercial Joint Stock Bank (SeABank) said it has completed the second pillar of Basel II standards, which is supervisory review.

Major banks are still expecting to report growth in the first quarter and for the rest of 2020 despite the disruptions caused by the COVID-19 pandemic.

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.

The Vietnam Maritime Commercial Joint Stock Bank (MSB) said it has completed the second pillar of Basel II standards that is supervisory review nearly one year ahead of the schedule set by the State Bank of Vietnam.

The Vietnamese banking sector, now undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and management from their European partners after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, according to insiders.

Investors from the EU will have opportunities to own higher stakes in Vietnamese banks than those from other countries under Việt Nam’s commitments in the EU-Vietnam Free Trade Agreement (EVFTA).