Vietnamplus

Lending interest rates will remain steady despite a recent upward trend in deposit rates, experts have forecast.

A pact signed on October 1 has officially sealed a merger deal between Sacombank and Southern Bank.

The State Bank of Vietnam (SBV) has approved an increase in Sacombank's capital by nearly 52 percent to 18.8 trillion VND (838 million USD), the HCM Stock Exchange has reported.

The State Bank of Vietnam (SBV) issued Decision No. 1844/QD-NHNN on September 14 to officially approve the merger between the Southern Bank and Sacombank.

The State Bank of Vietnam (SBV) has approved in principle the merger of Southern Bank (PNB) into Sai Gon Thuong Tin Bank (Sacombank).

Vietnam is expected to lure many foreign banks, especially those operating in the retail segment, once the country removes all technical barriers in the banking sector this year.

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) held a ceremony in Vientiane to open its subsidiary in Laos, becoming the fourth Vietnamese bank operating in the country.

The Sai Gon Thuong Tin Bank (Sacombank) said on August 3 that it had officially opened its wholly-owned subsidiary bank headquartered in Vientiane.