Finance

Central bank looks to up foreign reserves

Created 23 June 2017
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The State Bank of Vietnam’s transaction centre this week raised the reference buying rate for the US dollar by 50 VND to 22,725 VND, revealing its intention to expand foreign reserves.

Factors at play

Created 22 June 2017
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When rumors began to swirl at the end of last year that ANZ would sell its retail banking operations in Vietnam, the bank dismissed such claims. 

 

Rocky road

Created 21 June 2017
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Since the crisis in 2012, when total bad debts, mostly in the real estate sector, hit VND280 trillion ($12.5 billion), equivalent to a staggering 11 per cent of GDP, Vietnam’s banking sector has been aggressively restructuring its operations, leadership and loan books in response to the large number of non-performing loans (NPLs) plaguing the industry. Most if not all banks had to sell their NPLs to the Vietnam Asset Management Company (VAMC) to clean up their balance sheets.    

Real estate credit a worry for experts

Created 20 June 2017
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Half of consumer loans in Vietnam are mortgages or related to house repairs, which raises fears about banks’ liquidity.

 

Smaller banks overtake giants in profit growth

Created 20 June 2017
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Although commercial banks have yet to release their financial reports for the second quarter of 2017, many of them revealed their operating results in the first five or six months of 2017.

Experts call to raise USD deposit rate

Created 20 June 2017
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The policy of zero interest rate on USD deposits is showing some shortcomings and the State Bank of Vietnam (SBV) may need to increase it, especially in light of certain pressures on the VND/USD exchange rate.

 

Techcombank plans $231m share buyback

Created 20 June 2017
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The Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) on Saturday proposed that its shareholders approve a share buyback plan that will take place in 2017.

Gov’t raises depositors’ insurance compensation to VNĐ75 million

Created 20 June 2017
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The maximum insurance payable to a depositor for all deposits in an insured organisation will be raised to VNĐ75 million (US$3,289) from VNĐ50 million with effect from August 5.

 

Rapid bank credit growth makes analysts wary

Created 19 June 2017
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Nguyễn Thị Hồng, deputy governor of the State Bank of Việt Nam, said as of May end bank credit had grown at 6.58 per cent in the year-to-date, an eight-year high.

City banks create $5b link-up programme

Created 18 June 2017
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A banking-enterprises link-up programme in HCM City has enabled 4,138 businesses to borrow over VNĐ124.3 trillion (US$5.5 billion) from banks in the first five months of this year, a conference heard on Friday.

 

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