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Disruptive technologies spur the evolution in the financial landscape, with comprehensive applications providing convenient access to customers’ banking needs.

VN banks still register encouraging performance amid COVID-19

Many banks are posting optimistic business results as the full force of the disruptions of the global COVID-19 pandemic are not felt in their operations yet.

Two foreign banks' representative offices have licences withdrawn

The State Bank of Vietnam (SBV) has withdrawn the licences of the representative offices of Kookmin from South Korea and Commonwealth Bank of Australia.

Bank customers warned of fraud amid COVID-19 pandemic

Banks have warned customers about fraud during the COVID-19 pandemic, advising them not to open suspicious emails or click on dubious links sent as email attachments related to the pandemic.

RoK banks expand presence in Southeast Asia

Banks of the Republic of Korea (RoK) have strengthened their foothold in Southeast Asia by opening more branches in the rapidly-growing market, the Financial Supervisory Service (FSS) said.

Global events hinder bank IPO plans

Concerns over the lacklustre market have played a part in weakening investors’ appetite and could pose risks for Vietnamese banks going public this year.

Prudence important in assessing COVID-19 implications

Tran Ngoc Tho, member of the National Advisory Council on Financial and Monetary Policies, digs into the implications of coronavirus.

Banks speed recruitment to meet expansion plans

Many banks have announced the recruitment of a large number of personnel to meet business expansion plans in 2020.

SeABank earns net profit of nearly VND1.4 trillion in 2019

SeABank (Vietnam) has just announced its 2019 business results with net profit of VND1,390.69 billion, an increase of VND768.26 billion or 123.4% compared to 2018, ROE at 12.03%. This is the highest growth rate ever of SeABank.

 

Banks likely to enjoy big fat earnings again this year

Though the fiscal year 2019 is yet to end, early reports suggest major commercial banks in Vietnam will enjoy big fat earnings this year.

Vietnamese banks come closer to big deals

Experts said that a series of favorable conditions are encouraging local banks’ plans to sell shares to foreign investors for capital hike in a move to meet the Vietnamese central bank’s Basel II regulation.

PwC surveys how financial and tech firms navigate fintech landscape

PwC polled over 500 financial services and technology executives worldwide to figure out the factors that will determine the winners and losers of fintech.

Vietnamese banks ranked among 500 strongest in region

The Asian Banker continues to honour the 500 strongest banks in the Asia-Pacific in 2019 with some familiar names from Vietnam.

Foreign investors to join restructuring of Vietnamese banking system

Foreign banks have been expressing eagerness to jump on the mergers and acquisitions (M&A) bandwagon in the banking sector.

Following fraud, wary banks allow customers to check accounts online

 VietNamNet Bridge – Following the alleged misappropriation of VND245 billion (US$10.78 million) from an Eximbank customer’s account, many banks are now enabling their customers to check their accounts online.

Another kind of bank: stem cell deposits save lives

 VietNamNet Bridge – Three years ago, Hoang Thi Thuy Linh, 29, from the central province of Quang Binh Province, was diagnosed with leukemia (blood cancer).  She was told her best chances lay in getting her damaged stem cells replaced.

Bank, finance firm mergers to pick up speed

 The Asia Commercial Bank (ACB) will be the latest bank to join the wave of mergers among commercial banks and finance companies that is expected to become a major trend this year.

Tycoons run away from banks

 VietNamNet Bridge – 2013 is a year worth remembering for bankers as it witnesses the leave of a lot of big shareholders from commercial banks. The trend is believed to continue in 2014.

Best banks also have big debt ratios

 VietNamNet Bridge – A lot of commercial banks which have been recognized as the bests banks by economic journals turn out to have high bad debt ratios and unsatisfactory business results.

BUSINESS IN BRIEF 31/8

 HDBank acquires Société Générale VietFinance; HCM City prepares for sales promotion; Easing credit burdens on farmers; Banks recommit to credit risk management