Wednesday, November 21, 2018 - 13:02:34

commercial banks

Banks increase retail credits

Business

Banks increase retail credits

Bank loans for individuals were on a sharp rise in the first months of the year, mostly attributable to the rally of the property market, according to financial reports by commercial banks.

Banks push credit card use

Business

Banks push credit card use

Commercial banks are increasingly focusing on promoting the use of credit and other cards.

Under a tie-up with low-cost carrier Jetstar Pacific, the Bank for Investment and Development of Vietnam allows payments for tickets at 1,000 of its ATMs.

Most bank profits meet or exceed yearly targets

Business

Most bank profits meet or exceed yearly targets

Several commercial banks in Vietnam announced they have surpassed their yearly profit goals as of the end of September, despite forecasts made in late 2008 that this would be a difficult year for banks.

VIB bank has announced it reaped 496 billion VND in pre-tax profits as of the end of September, which represents 24 percent more than the 400 billion VND target for year adopted by bank shareholders in March 2009.

State Bank steps in on rice buy-up

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State Bank steps in on rice buy-up

The State Bank of Vietnam (SBV) has instructed commercial banks to provide loans to the Southern Food Corporation in a move to aid the corporation in buying 500,000 tonnes of rice for stockpile.

Long-term loans join in subsidies

Business

Long-term loans join in subsidies

Medium- and long-term business loans will now be eligible for the Government’s subsidised-interest loan programme, according to a new State Bank of Vietnam circular.

Business strapped by tight banks

Business

Business strapped by tight banks

Companies and individuals in HCM City continue to face difficulties in accessing bank loans, even though many of them are willing to pay a higher interest rate.

ADB revises up Vietnam’s GDP projection to 4.7%

Business

ADB revises up Vietnam’s GDP projection to 4.7%

The Asian Development Bank (ADB) on September 22 revised up its GDP growth forecast for Vietnam for 2009 from 4.5 percent projected in March this year to 4.7 percent and maintained its projected growth of 6.5 percent for 2010.

The projections are part of the Asian Development Outlook Update 2009 which lowered its 2009 growth forecast for Southeast Asia to 0.1 percent from 0.7 percent and upgraded its economic growth forecast for 2009 in East Asia and South Asia to 4.4 percent and 5.6 percent respectively.

Hanoi exchange launches bonds market

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Hanoi exchange launches bonds market

The Hanoi Stock Exchange on Sept. 24 will inaugurate a new bond market for Government bond trading, in an effort to promote transparency and gradually develop it as an effective investing channel.

Vietnam dong hits peak against weakened dollar

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Vietnam dong hits peak against weakened dollar

The VND has continued to peak against the US dollar since the foreign exchange trading band was widened to plus-or-minus 5 percent.

The interbank rate on Sept. 14 was 16,984 VND to the dollar, only 5 VND below the previous record set back on December 25 when the trading band was loosened to plus-or-minus 3 percent.

Vietinbank – fulcrum for SMEs

Business

Vietinbank – fulcrum for SMEs

With more than 50 percent of its customers are small- and medium-sized enterprises (SMEs), the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) continues proving to be a fulcrum for the SMEs bloc.