Cashless payment remains low in Vietnam: CIEM Business

Cashless payment remains low in Vietnam: CIEM

The ratio of cashless payments in Vietnam remains low, standing at only 11.49 percent of total means of payment, according to a recent report from the Central Institute for Economic Management (CIEM).
Vietnam hopes to enter MSCI watchlist this year Business

Vietnam hopes to enter MSCI watchlist this year

One year after failing to enter the Morgan Stanley Capital International (MSCI)’s watchlist for a market status upgrade, it is still uncertain if Vietnam will make it this year despite efforts made to improve market conditions.
ACB becomes seventh bank to meet Basel II standards Business

ACB becomes seventh bank to meet Basel II standards

The Asia Commercial Bank (ACB) late last week was officially given approval from the State Bank of Vietnam (SBV) to apply Basel II standards, raising the number of Vietnamese banks meeting the global norms ahead of the SBV’s schedule to seven.
Foreign investors set sights on poorly-performing banks Business

Foreign investors set sights on poorly-performing banks

Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen Tri Hieu.
IFC credit package boosts lending to Vietnamese SMEs Business

IFC credit package boosts lending to Vietnamese SMEs

The International Finance Corporation (IFC) – a sister organisation of the World Bank and member of the World Bank Group - and the Orient Commercial Bank (OCB) on March 27 signed a cooperation deal on a 100 million USD credit package and a consultancy programme to promote supply chain financing.
Foreign investment in banking sector to surge Business

Foreign investment in banking sector to surge

The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector in 2019, experts said.
Vietnamese banks’ profitability improves Business

Vietnamese banks’ profitability improves

Vietnamese banks are forecast to gain in profitability this year, but raising capital will be a key focus for banks to meet the State Bank of Vietnam’s strict Basel II requirements.
SBV set to rank local banks, credit institutions Business

SBV set to rank local banks, credit institutions

The State Bank of Vietnam (SBV) will rank credit institutions and foreign bank branches operating in the country in a move to ensure the safety of the banking system and protect legitimate rights of depositors.
Selling shares to foreign investors, VCB’s charter capital up Business

Selling shares to foreign investors, VCB’s charter capital up

The charter capital of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has risen by 3 percent to 37.1 trillion VND (1.6 billion USD) after its recent sale of more shares to two strategic investors - the Singaporean investment fund GIC Private Limited (GIC) and Japan’s Mizuho Bank.