Vietcombank leads in first-half pre-tax profits Business

Vietcombank leads in first-half pre-tax profits

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted the highest pre-tax profits among Vietnamese banks in the first six months of 2019, raking in more than 11.04 trillion VND (474.7 million USD), up 43.1 percent on-year.
Vietcombank to cut stake in Eximbank Business

Vietcombank to cut stake in Eximbank

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has offered to sell 45.6 million shares it is holding in the Vietnam Export-Import Joint Stock Commercial Bank (Eximbank).
Banks aim to up capital ahead of new standards Business

Banks aim to up capital ahead of new standards

Prosperous business performance and positive bank share price trends in the stock market are expected to help some commercial banks meet their capital increase deadline as required by the State Bank of Vietnam (SBV).
Local banks draw foreign interest Business

Local banks draw foreign interest

Commercial banks expect to attract foreign investment in their newly-established financial companies thanks to the profitable domestic consumer financial market.
Bank powers electricity project Business

Bank powers electricity project

The Military Bank (MB) has announced that it was selected by the State Bank of Vietnam as a banking and finance service provider for the disbursement and implementation of the transmission grid No 1 project.
Business

Military bank opens branch in Laos

The Lao Ministry of Planning and Investment granted an investment licence to the Vietnam ’s Military Bank (MB) to open its branch with an initial capital of 12 million USD, on October 14.
Business

Capital mobilisation through bonds a wise choice

Issuing bonds, especially convertible bonds, to mobilise capital is considered a “wise” choice for many banks in the context of cash mobilisation facing difficulties despite continually increased interest rates.
Business

Most bank profits meet or exceed yearly targets

Several commercial banks in Vietnam announced they have surpassed their yearly profit goals as of the end of September, despite forecasts made in late 2008 that this would be a difficult year for banks.

VIB bank has announced it reaped 496 billion VND in pre-tax profits as of the end of September, which represents 24 percent more than the 400 billion VND target for year adopted by bank shareholders in March 2009.