Monday, April 22, 2019 - 15:00:09

Vietnamese banks

Foreign investors set sights on poorly-performing banks

Business

Foreign investors set sights on poorly-performing banks

Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen Tri Hieu.

Foreign investment in banking sector to surge

Business

Foreign investment in banking sector to surge

The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector in 2019, experts said.

Central bank issues roadmap for ATM card upgrades

Business

Central bank issues roadmap for ATM card upgrades

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.

Party economic commission head receives Japanese SMBC leader

Business

Party economic commission head receives Japanese SMBC leader

Politburo member and Head of the Party Central Committee’s Economic Commission Nguyen Van Binh hosted a reception in Hanoi on November 23 for Chairman of the Board of Japan’s Sumitomo Mitsu Financial Group (SMFG) and Sumitomo Mitsu Banking Corporation (SMBC) Koichi Miyata.