Banking sector's assets climb Business

Banking sector's assets climb

Latest data from the State Bank of Vietnam revealed that the total assets of the country's credit institutions was up 1.67 percent in November-end from the previous month.

The assets was pegged at more than 6,277.9 trillion VND (291.99 billion USD), at the end of November in 2014, the central bank reported.

Banking assets reach 291 billion USD

The total assets of the banking industry reached 6,174 trillion VND (291.22 billion USD) by the end of October, according to statistics provided by the State Bank of Vietnam (SBV).

Big banks urged to get involved with M&As

Mergers and acquisitions (M&A) within the Vietnamese banking industry have contributed to the sector's restructuring in recent years, but experts are suggesting that big banks get involved in the process.

Banks eye bonds to capitalise on low rates

After companies, it is now the turn of banks to issue bonds to take advantage of the low interest-rate regime to raise funds and also, in some cases, increase Tier II capital to achieve capital adequacy.

Vital indications of banking improve

The health of the banking system has improved, with good reports coming in about asset quality, capital adequacy ratio and liquidity, according to the National Financial Supervisory Commission (NFSC).

SBV seeks to curb bank cross ownership

Governor of the State Bank of Vietnam Nguyen Van Binh has committed to take more measures against cross ownership in local commercial banks to make the banking system safer.

Slow reforms drag bank-risk profiles

A new report by Fitch Ratings says that the major Vietnamese banks' risk profiles will remain vulnerable in view of the country's below-par economic performance, high asset-quality risks, poor transparency and slow pace of banking restructuring, alongside persistent global headwinds.

Vietinbank to sell 20 percent to partner

The Bank for Industry and Trade of Vietnam (Vietinbank) plans to sell 20 percent of its shares to a strategic partner in the third or fourth quarter of this year, said Pham Huy Hung, the bank's chairman, at an analysts' meeting on May 16 in Hanoi.

Measures aim to restrict bad debt

Credit institutions, including foreign bank branches, which have high bad debts or violate the regulations on capital contributions or share purchases from other ventures, will have their credit growth restricted, according to a circular from the State Bank of Vietnam.

Aussie bank ups stake in VIB

Vietnam International Bank (VIB) and Commonwealth Bank of Australia (CBA) on Oct. 20 announced CBA had taken an increased stake in VIB as a strategic shareholder.