Bad debt handling to be audited Business

Bad debt handling to be audited

The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Vietnam (SAV).
Banks struggle to lure long-term capital Business

Banks struggle to lure long-term capital

Banks have to mobilise long-term capital at high costs by issuing certificates of deposit (CD) in Vietnamese dong with high interest rates to lure depositors, causing concerns about a domino effect on lending rates.
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.
MobiFone suffers drop in profit and revenue Business

MobiFone suffers drop in profit and revenue

MobiFone, one of Vietnam’s three largest mobile network operators, has reported a year-on-year decline of 42 percent in post-tax profit in the second quarter of this year, falling to 947 billion VND (41 million USD).
SeABank run raises funds for poor students Society

SeABank run raises funds for poor students

As many as 800 amateur athletes, who are members of the Da Nang Young Businesspeople Association and staff of the Southeast Asia Joint Stock Commercial Bank (SeABank) participated in the “Run for the Future” held in the central city on August 19.
VNPT transfers finance subsidiary to SeABank Business

VNPT transfers finance subsidiary to SeABank

The Southeast Asia Commercial Joint Stock Bank (SeABank) and the Vietnam Post and Telecommunication (VNPT) have signed the minutes to transfer VNPT finance subsidiary Post and Telecommunication Finance Company Ltd (PTF) to SeABank in the form of transferring the contributed capital.
Banks eye consumer finance for bigger share Business

Banks eye consumer finance for bigger share

Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach 1,000 trillion VND (4.38 billion USD) by 2020 and grow at 29 percent annually.