Foreign exchange reserves hit 63.5 billion USD Business

Foreign exchange reserves hit 63.5 billion USD

The State Bank of Vietnam’s net purchase of foreign currencies exceeded 11 billion USD in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately 63.5 billion USD.
Banks hope to lure foreign investors Business

Banks hope to lure foreign investors

Despite the current increasing foreign investment inflows, merged and acquired banks will consider selling stakes to foreign investors after completing the restructuring to up the attractiveness of sales, bank officials said.
Vietcombank earns record high pre-tax profit Business

Vietcombank earns record high pre-tax profit

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) continued its impressive performance in the first quarter of this year, posting pre-tax profit record high of more than 4.3 trillion VND (189.4 million USD).
Sacombank vows to finish settling bad debts in five years Business

Sacombank vows to finish settling bad debts in five years

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has pledged to finish settling all of the 100 trillion VND (4.38 billion USD) of its bad debts in five years, instead of 10 years as stated in the restructuring plan approved by the State Bank of Vietnam.
Vietcombank looks to earn 570-mln-USD profit in 2018 Business

Vietcombank looks to earn 570-mln-USD profit in 2018

The largest local commercial bank, Vietcombank (VCB), has set to increase their profit to between 12.5 trillion VND (548.7 million USD) and 13 trillion VND (570.7 million USD) in 2018, up about 15 percent against 2017, said VCB Chairman Nghiem Xuan Thanh.
Stocks set to rise further after Tet Business

Stocks set to rise further after Tet

Vietnam’s stock market is expected to rise further after the Tet (Lunar New Year) holiday and even throughout 2018, boosted by positive macro economic development as well as support of foreign traders
SBV urges resolution to bad loans Business

SBV urges resolution to bad loans

The State Bank of Vietnam (SBV) has issued a document asking credit institutions and branches of foreign banks to push the resolving of non-performing loans in 2018.
Bad debt ratio at 2.3 percent by end of 2017 Business

Bad debt ratio at 2.3 percent by end of 2017

Non-performing loans (NPLs) of credit institutions were controlled effectively in 2017, helping the NPL ratio of the entire banking system reduce to 2.3 percent from 2.46 percent in late 2016.
Bank profits enable rate cuts Business

Bank profits enable rate cuts

The banking sector’s profits were anticipated to rise significantly in 2017, driven by the handling of bad debts and the recovery of the property sector.