Vietnamplus

Leaders of the State Bank of Vietnam (SBV) and commercial banks have asked the government to promptly handle capital increase for State-owned commercial banks.

Four banks are seeking every chance to increase their charter capital, some banks were successful, however it was not a piece of cake.

Capital limitations hinder banks from meeting regulations on capital adequacy ratio (CAR) and performing their business due to a series of other regulations.

The southern province of Ba Ria – Vung Tau last year attracted many large-scale investment projects, and it is noteworthy that the projects fell in the province’s orientations, according the provincial Department of Planning and Investment.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has offered to sell 45.6 million shares it is holding in the Vietnam Export-Import Joint Stock Commercial Bank (Eximbank).

Prosperous business performance and positive bank share price trends in the stock market are expected to help some commercial banks meet their capital increase deadline as required by the State Bank of Vietnam (SBV).

Institutions from the Republic of Korea (RoK) have increased their investments in Vietnam’s financial market significantly, expecting to make big gains thanks to the economic growth outlook.

Vietnam Airlines plans to reduce State ownership to 51 percent of the charter capital in the next three years.

Numerous hi-technology projects have been granted investment licences and allowed to increase investment capital in the last months of the year.

The Government’s recent decision on the restructuring of credit institutions ensures that State-owned banks listed on the market no longer have to worry about dividend payout in cash, experts said.

The Vietnam National Oil and Gas Group (PetroVietnam) has decided to form teams to handle its loss-making projects since the snail-pace progress of the process has displeased the Government.

The banking system is expected to further develop this year, as 16 banks have announced plans to increase capital by a total of nearly 37 trillion VND (1.62 billion USD).

The US ACO Investment Group wants to implement renewable energy projects in Vietnam’s southern province of Binh Duong, Chairman and CEO of the group Hari Achuthan said at a working session with local authorities on February 22.

Speeding the equitisation of State-owned enterprises (SOEs) and development of the stock market is important to secure a Government policy to restructure businesses over the next five years.

The southern metropolis Ho Chi Minh City has attracted 2.3 billion USD in foreign direct investment in the nine months of this year.

Vietnam’s lenders are gathering speed, posting the second-highest growth by country in this year’s ranking of the top 100 banks in the Association of Southeast Asian Nations (ASEAN).

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) expects to increase its charter capital this year to become more competitive and prepare for Basel II implementation.

The Investigation Police Agency said it launched criminal proceedings against 16 former officials of the Vietnam Construction Bank (VNCB) for economic management wrongdoings.

After four years of restructuring the banking system, total charter capital owned by the State Bank of Vietnam (SBV) at commercial banks increased 1.7 times.

The Debt and Asset Trading Corporation (DATC) will increase its charter capital from a current 2.48 trillion VND (110 million USD) to 6 trillion VND (266 million USD) starting October 15.