BIDV announces profits of 200 million USD Business

BIDV announces profits of 200 million USD

The Joint Stock Commercial Bank for Investment and Development Vietnam (BIDV) generated profits of 4.26 trillion VND (200 million USD) by the end of September, making it one of the top 10 contributors to the national economy.
Business

SBV adds 7.7 billion USD to forex reserves

The State Bank of Vietnam (SBV) purchased roughly 7.7 billion USD worth of foreign currency for the national foreign exchange reserve in the first quarter this year thanks to stable foreign exchange rates, SBV Governor Nguyen Van Binh said.
Society

Cheating bank official faces life imprisonment

The Ho Chi Minh City People’s Court on January 27 sentenced Huynh Thi Huyen Nhu, former deputy chief of the Risk Management Department of the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), to life behind bars at her trial that started on January 6.
Business

Credit institutions asked to deal with bad debts

Recently, Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh issued Document 8421/NHNN-TTGSNH on the implementation of the Prime Minister’s directives detailed the Decision 843/QD-TTg dated May 31, 2013 approving the two projects of "Dealing with bad debts of the credit institutions system" and "Establishing the Vietnam Asset Management Company". Vietnam Business Forum finds out more.
Business

Banks join hand to assist Japanese investors

The Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank) has reached a cooperation agreement with the Japan Bank for International Cooperation (JBIC) on providing assistance to Japanese businesses in seeking opportunities in Vietnam.
Banks offer 1.4 bln USD housing loans Business

Banks offer 1.4 bln USD housing loans

Five commercial banks are offering loans worth 30 trillion VND (1.4 billion USD) to home buyers and realty developers from June 1, in an effort to shore up the property market.
Vietinbank to open first German subsidiary Business

Vietinbank to open first German subsidiary

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has received approval in principle from the State Bank of Vietnam to start up a subsidiary company in Germany with a total investment of about 50 million EUR.
Business

Sacombank secures global credit facility

A consortium of international financial institutions led by the Netherlands Development Finance Co (FMO) has agreed to provide a credit line of 150 million USD to HCM City-headquartered Sacombank.
Laos welcomes VietinBank’s branch Business

Laos welcomes VietinBank’s branch

Laos’s Permanent Deputy Prime Minister Somsavad Lengsavath has welcomed the presence of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) in Laos.
Business

ATMs to be kept full for Tet holiday

With the demand for cash at ATMs often tripling during the Tet (lunar new year) shopping season, commercial banks are taking measures to ensure ATM networks and systems are working well during the holidays.
Society

ATMs to be kept full for Tet holiday

With the demand for cash at ATMs often tripling during the Tet (lunar New Year) shopping season, commercial banks are taking measures to ensure ATM networks and systems are working well during the holidays.