banks

Update news banks

Banks cannot find foreign currency borrowers in high season

 VietNamNet Bridge – Commercial banks’ coffers have been filled with foreign currencies which cannot be disbursed because of the lack borrowers, even though it is now the high season.

Banks may be forced to list shares on bourse

 VietNamNet Bridge – The watchdog agency is considering compelling commercial banks to list their shares on the bourse in order to improve the transparency and better control the banks’ ownership ratios.

A lot of commercial banks change hands

 VietNamNet Bridg – So many commercial banks have announced the big changes in their structure recently that people have to raise a question what is happening with the banking sector.

BUSINESS IN BRIEF 5/12

 Local bank seeks firm niche in Cambodia; SeABank to raise charter capital; $100 mln steel plant begins production; Danish, Vietnamese firms talk social responsibility; Mining policies need to go deeper

BUSINESS IN BRIEF 4/12

 Slower growth in manufacturing sector; Strict control on gas prices; Hanoi’s efforts to iron out snags for businesses; An Giang to ship main products to Netherlands; Vietnam’s rice export price surpasses Thailand

Dollar market wakes up suddenly after long sleep

 VietNamNet Bridge – The dollar market, which has been stable for a long time, has heated up with the prices increasing in both the black and official markets.

20 banks sell debts to VAMC

VietNamNet Bridge – Vietnam Asset Management Company (VAMC) has cut deals to buy debts from 20 credit institutions, a source from the enterprise said.

Embezzlement in banking sector gets alarming

 VietNamNet Bridge – Banking has been named as the leading sector in terms of embezzlement with 9 out of the 10 embezzlement cases treated in 2013.

Despite difficulties, bank workers still have highest incomes

Those who work for big banks like Military Bank or Vietinbank, can get toweringly high pay, but they have to work very hard. Meanwhile, those, who work for smaller banks, still can earn VND8 million a month at least, despite the low productivity.

Low-cost capital plentiful, but borrowers keep glacial

 VietNamNet Bridge – The lending interest rates offered by many commercial banks have reduced to below the deposit interest rates. However, businesses don’t intend to borrow money at this moment.

BUSINESS IN BRIEF 18/11

 HCM City’s foreign-currency credits tumble; Vietnam eyes labour cooperation with Middle East, North Africa; BIDV receives Asia Risk award; Mekong Delta looks towards green economy

HCM City receives flood of remittances

 VietNamNet Bridge – Inward remittances via HCM City banks topped US$3.7 billion in the first 10 months of the year, and are expected to reach $4.8 billion this year,

BUSINESS IN BRIEF 13/11

 Russia affirms its nuclear status in Vietnam; Coffee exports to Mexico fall 19%; Ad firms confront challenges; Phone handset exports up 76%; Central bank backs down on currency

Banks enjoy large interest rate margins

 VietNamNet Bridg – According to the FETP’s research team, the margin between the lending and deposit interest rate is as high as 6 percent. Meanwhile, an economist says it is 4-5 percent and the State Bank affirms it is 2-3 percent.

Banks struggle to hit lending goal

 Significant challenges remain for the banking industry to reach the annual credit growth target this year, despite certain improvement in lending situation, State Bank of Viet Nam (SBV) officials said.

BUSINESS IN BRIEF 10/11

 Mekong Delta expects rise in industrial production; European firms split on economic outlook; Ad agency creates ‘anxiety' rating; Steel oversupply defies weak demand; Garment, textile exports to reach $19bn ahead of TPP

BUSINESS IN BRIEF 8/11

Footwear exports aim for US$8 billion; ÆON Japan invests in Vietnam;  Businesses suggest tax, customs overhaul; FDI up 65.5% in 10 months; Hanoi to host 28th Asian Advertising Congress

Businessmen, farmers get bankrupt on false rumors

 VietNamNet Bridge – Vietnam, where information cannot be checked immediately--businesses may fall down just because of rumors. It is estimated rumors cause the damage of hundreds of billions of dong.

Having no money, businesses issue shares to pay debts

 VietNamNet Bridge – A lot of big debtors have issued shares recently to specific partners as a method to pay debts.

Irrecoverable debts on sharp rise

 VietNamNet Bridge – Of the VND6.5 trillion worth of debts the Vietnam Asset Management Company (VAMC) has bought so far, 67 percent is in the real estate sector.