Foreign banks pour capital into Vietnam Business

Foreign banks pour capital into Vietnam

The International Finance Corporation (IFC), a member of the World Bank Group, announced on August 11 that it will provide a 70 million USD loan to Indo Trans Logistics Corporation (ITL Corp), with the aim of improving logistics, trade and competitiveness in Vietnam’s economy amid the COVID-19 pandemic.
State Bank orders actions to fight black credit Business

State Bank orders actions to fight black credit

The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.
Small banks struggle to meet Basel II deadline Business

Small banks struggle to meet Basel II deadline

Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.
Credit institutions warned about P2P lending Business

Credit institutions warned about P2P lending

The State Bank of Vietnam (SBV) has warned Vietnamese credit institutions and foreign banks in the country to be cautious before working with peer-to-peer (P2P) lending companies as there are many risks related to the service.
M&As in banking sector encouraged Business

M&As in banking sector encouraged

The Government plans not to license any more wholly foreign-owned banks in Vietnam but encourages foreign banks to buy weak domestic banks, said Deputy Prime Minister Vuong Dinh Hue.
Foreign banks expand operations in Vietnam Business

Foreign banks expand operations in Vietnam

Foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector.