Keyword: "VietinBank"

The State Bank of Vietnam to lift gold position limit for authorised banks from 2% to 5% of charter capital.

According to data compiled by CafeF.vn, banks continued to assert overwhelming strength in the top 10 pre-tax earners of the period, claiming seven positions alongside three companies under the Vingroup ecosystem. In the broader top 20, banks accounted for 12 of the most profitable firms.

VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Bank representatives said they plan to increase market share and shift retail, with a focus on sustainable development to boost profits higher than last year.

The Vietnam Oil and Gas Group (Petrovietnam) tops the list of ten strongest brands in Vietnam in 2024, selected by readers of Tap Chi Kinh Te Viet Nam / VnEconomy / Vietnam Economic Times.

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.

Commercial banks are seeking to issue bonds to raise long-term capital while adhering to capital safety regulations set by the central bank.

Vietcombank has become the first bank in Vietnam to stop offering SJC-branded gold bars on its website and sell them through its banking app from August 27.

The Ministry of Construction has agreed with the State Bank of Vietnam (SBV)’s proposal to offer preferential lending rates for homebuyers who borrow from the 120 trillion VND (4.72 billion USD) social housing credit package, at 3-5 percentage points lower than the average.

Long queues of gold buyers were no longer seen in front of designated sites of four State-owned commercial banks on June 17 morning.

The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) became the first large commercial bank with state capital to raise deposit rates earlier this morning.

Fifteen Vietnamese banks are named among the world’s top 500 most valuable banking brands this year according to the Brand Finance Banking 500 2024 ranking. In the recently released ranking, Vietcombank is the Vietnamese bank with the highest brand value in 2024. Globally, Vietcombank ranks 133rd, up 4 positions compared to 2023.

The National Power Transmission Corporation (EVNNPT) on January 26 signed credit contracts worth over 15.6 trillion VND (634 million USD) with five banks to implement projects to build the 500kV circuit 3 transmission line section from Quang Trach to Pho Noi.

Vietnam’s four largest commercial banks - Vietcombank, BIDV, Agribank and VietinBank (the Big 4) - in 2023 accounted for 41.9% of total outstanding loans and about 50% of the total deposits of the country's banking system.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) continued slashing deposit interest rates on January 12, with the lowest standing at 1.7% per year.

Credit ratings agency Fitch Ratings has recently revealed upgrades for several banks, in the wake of its decision to raise Vietnam's national credit rating to BB+ with a long-term outlook of "Stable".

Deposit interest rates at four major banks of Vietnam have been adjusted sharply, down by 0.2-0.4% per year from the previous listings, bringing the rate to 2.2% per year at the lowest.

Many large banks are implementing plans to issue shares to pay dividends in the last months of this year.

In the third quarter of 2023, a notable variance is anticipated in the profits of commercial banks, with some continuing to experience double-digit growth, while others see a sharp downturn.