Standard Chartered Bank Vietnam on January 29 announced its arrangement for the Refrigeration Electrical Engineering Corporation (REE) to issue 2.31 trillion VND (100 million USD) in fixed rate bonds.
Both finance companies and banks are promoting consumer lending to capitalise on high demands ahead of the country’s largest holiday Lunar New Year (Tet).
Standard Chartered Bank continues to expect Vietnam’s robust gross domestic product (GDP) growth of 7 percent in 2018, driven by strong FDI-supported electronics manufacturing and rising consumption.
The Government plans not to license any more wholly foreign-owned banks in Vietnam but encourages foreign banks to buy weak domestic banks, said Deputy Prime Minister Vuong Dinh Hue.
Standard Chartered Vietnam in Ho Chi Minh City on January 17 issued a global economic report, forecasting that Vietnam’s GDP will expand 6.8 percent in 2018.
Standard Chartered Bank has affirmed its strong commitment to supporting enterprises from ASEAN member nations in expanding their business in the region and the world, heard a seminar on May 16.
About 40 percent of Chinese investors will select Vietnam as their next location if they plan to move investment out of China, said a survey of the Standard Chartered Bank.
The National Financial and Monetary Policy Advisory Council will concentrate on dealing with the reorganisation of credit institutions and State-owned enterprises, and handling bad debts.
Vietnam is an attractive destination for investment amid a lackluster global economy, Nirukt Sapru, CEO of Standard Chartered Bank Vietnam said in a recent report.
The State Bank of Vietnam (SBV) has allowed some lenders to raise
their credit growth ceiling this year in a move to boost economic
growth, according to Thoi bao Ngan hang (Banking Times).
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