The State Bank of Vietnam (SBV) has recently granted the first credit growth quotas in 2023 to a number of banks, with a majority of them receiving lower rates than last year.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the third time this year to some commercial banks to meet rising capital demands at year-end.
Competition among banks to lure demand deposits is becoming fiercer as the cheap capital source helps banks increase their net interest income (NIM) ratio.
TPBank has become the Vietnamese first bank to allow all domestic cardholders to make payment and withdrawal transactions in the Republic of Korea (RoK) in addition to international debit cards or credit cards.
Tien Phong Commercial Joint Stock Bank (TPBank) of Vietnam is working with Backbase, a digital banking software provider based in the Netherlands, to put forth the Vietnamese bank’s digital transformation process on a secure, efficient and sustainable digital platform.
Right in the first week after the app electronic know your customer/client (e-KYC), the Tien Phong Commercial Joint Stock Bank (TPBank) has seen nearly 5,000 customers registering to open their accounts through the bank’s mobile app.
More than 200 players from 20 provinces and cities across Vietnam are taking part in the National Team Chess Championship – TPBank Cup 2020 which began in the northern province of Bac Giang on June 6.
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.
The State Bank of Vietnam (SBV) said it will closely monitor interest rates offered by credit institutions and take measures to strictly handle violations of the law, including cutting credit growth targets.
Several banks have recently announced they would recruit a large number of personnel to meet their business expansion plans in the last quarter of the year - the busiest time for banks.
Instead of the modest contribution made previously, the insurance business segment, or bancassurance (banks co-operate with insurers to sell insurance products), has now become the main source of income from service activities for many banks.
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.
The Tien Phong Commercial Joint Stock Bank (TPBank) and UnionPay International (UPI) signed a cooperation agreement on inter-bank payment in Vietnam, at a ceremony in Hanoi on July 15.
Though there remains six months, some banks have almost used up the assigned quota for the whole year, and experts said it would be difficult for the banks to get an expansion approval from the State Bank of Vietnam (SBV).
The Vietnam Bank Card Association, in collaboration with the National Payment Corporation of Vietnam (NAPAS) and 7 commercial banks, launched the first domestic chip cards on May 28.
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