Techcombank to issue 4.7mn shares to employees Business

Techcombank to issue 4.7mn shares to employees

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) plans to issue 4.7 million shares to current employees under its employee stock ownership plan (ESOP), at a price of 10,000 VND (0.43 USD) per share.
HDBank pre-tax profit up record 51 percent in third quarter Business

HDBank pre-tax profit up record 51 percent in third quarter

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, HOSE: HDB) has reported impressive results in the third quarter of this year, with pre-tax profits increasing by a record 51 percent year-on-year to over 1.23 trillion VND (53.4 million USD).
VPBank to lift chartered capital to 1.22 billion USD Business

VPBank to lift chartered capital to 1.22 billion USD

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) plans to increase its current chartered capital from 15.7 trillion VND (around 691.6 million USD) to 27.8 trillion VND (1.22 billion USD) in 2018, the bank announced at its shareholders’ recent meeting.
Banks urged to serve low earners Business

Banks urged to serve low earners

Vietnam has significant room to promote inclusive finance, given 70 percent of its population is living in rural areas and many are locked out of the conventional banking system due to low income, experts have said.
Sacombank board names new chairman Business

Sacombank board names new chairman

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)’s annual shareholder meeting on June 30 officially appointed Duong Cong Minh as the new chairman for tenure 2017 – 2021.
New study sheds light on bank performance Business

New study sheds light on bank performance

The process of restructuring commercial banks in Vietnam mostly focusses on mitigating negative effects and not on promoting positive factors, one of which is the increase in private ownership.
Terms for VAMC bonds extended Business

Terms for VAMC bonds extended

Terms for bonds issued by the Vietnam Asset Management Company to buy bad debts from credit institutions, will be extended from five years to 10 years in some cases.
MBBank to merge with Song Da Finance Business

MBBank to merge with Song Da Finance

The Military Commercial Joint Stock Bank will complete its merger with Song Da Finance Company this year, the bank reported on its website after a shareholder meeting on October 6.
Business

Two banks sell 1.3 trillion VND of bad debts

The Vietnam Asset Management Company (VAMC) has signed agreements with Saigon Commercial Bank (SCB) and Southern Bank to buy bad debts from the two lenders totaling some 1.3 trillion VND (62 million USD), according to the Saigon Times Daily.