International experts and donors praised the Vietnamese Government’s
efforts to cope with crisis, inflation and recession at the Consultation
Meeting with Development Partners on Sept. 6.
The National Financial Monitoring Committee President has emphasised the
need to restructure the commercial banking system if the country did
not want to lag behind the rest of the world.
The VN-Index ended last week at 409.20 points, a decrease of 1.34
percent from the previous week's close and 3.9 percent since the
beginning of the month.
Vietinbank (CTG) plans to raise its charter capital by up to 65 percent
to 20-25 trillion VND (1.22 billion USD) by the end of this year,
Chairman Pham Huy Hung told the annual shareholder meeting in Hanoi
on May 31.
Credit growth should fall to 23 percent next year, the State Bank of
Vietnam announced on Dec. 28, setting a more cautious policy than was
pursued this year, when growth in commercial bank lending neared 28
percent.
The State Bank of Vietnam also sent a
clear message that monetary policy would focus on controlling inflation
and stabilising the economy.
Foreign banks continue to affirm their important position in Vietnam and now hold assets valued at over 420 trillion VND (20 billion USD),
or 11.25 percent of the entire finance sector.
Vietcombank will sell 5 million shares it holds in Eximbank,
representing a 1.26-percent stake, as part of its effort to restructure
its investment portfolio and meet stricter capital adequacy ratio (CAR)
requirements, Vietcombank management board member Le Thi Hoa told
Vietnam News on August 11.
Techcombank will offer about additional
149 million shares to existing shareholders in June at a ratio of 27.6
percent, and an additional 4 million shares will be offered to staff,
at a price of 10,000 VND per share.
Three commercial banks – Orient
Commercial Bank, Western Bank, and Navibank – have announced plans to
comply with higher charter capital requirements by the end of the year
in order to list shares on one of the nation's two stock exchanges.
Vietnam International Bank has been
given permission to issue 60 million shares to existing stockholders to
raise its charter capital to 3 trillion VND ( 157 million USD) from 2.4
trillion VND (126 million USD).
The Vietnam International Bank (VIB) has officially launched
its business strategy for the period 2009-2013, by announcing a new
strategy and a new logo with the slogan “a-dedicated bank” in Hanoi on
September 9.
Moody’s Investors Service, a global
trust-rating company, has placed the ‘bank financial strength rating’
(BFSR) of the Vietnam International Bank (VIB) at level D, with a
prospect of stability.
Outstanding loans against collateral in the form of securities
or real estate in the first half of the year sharply increased over
last year, according to a report from the State bank of Vietnam.
