Sacombank

Update news Sacombank

Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.

Banks looked gloomy amidst COVID-19

Financial reports released by some banks in the first quarter have reflected the adverse impacts of the COVID-19 pandemic on their business activities, with declining profits and rocketing bad debts.

Banks sell mortgaged assets to resolve bad debts

Many banks in Ho Chi Minh City are selling their mortgaged assets, mainly properties worth trillions of Vietnamese dong, to speed up the resolution of bad debts.

Banks lower interest rates following SBV’s policy rate cut

By March 17 noon, most of the commercial banks in Vietnam had lowered their interest rates on savings accounts with terms of less than 6 months after the State Bank of Vietnam (SBV) announced its policy rate cut a day earlier.

Vietnamese lenders set sail for lucrative lands

Vietnamese banks are following their corporate clients by expanding abroad. 

VN banks boost sales of mortgaged assets to resolve bad debts

Many banks are auctioning mortgaged assets, mainly real estate, worth trillions of Vietnamese dong to speed up the resolution of non-performing loans.

 

Vietnam banks step up bad debt recovery in 2019

Some banks have recovered trillions of Vietnamese dong in bad debt by selling off assets secured with non-performing loans in the first half of 2019.

 

Bad debt handling to be audited

The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Viet Nam (SAV).

 

BUSINESS NEWS IN BRIEF 27/8

 Remittances to HCMC steady, Capital market faces imbalances, Impacts of revolution 4.0 on banking sector, Detailed guidance needed to tackle bad debt: experts, Sacombank, Becamex Binh Phuoc ink deal            

When foreign banks want to leave Vietnamese partners

VietNamNet Bridge - The year 2017 saw a number of foreign investors leaving their Vietnamese partners and divesting from banks they once made every effort to develop.

Banks’ shareholder structure changes

VietNamNet Bridge - While institutional shareholders register to divest shares of listed banks, inside shareholders and relatives of the members of the board of management are rushing to collect shares.

Dang Van Thanh thrives as former rival Tram Be is sent to prison

Dang Van Thanh lost in the battle for control over Sacombank five years ago, but he has returned to business and is prospering. However, the former winner in the bank battle – Tram Be – has been sentenced to prison.

How rich is Tram Be, the banking tycoon recently arrested?

As the owner of a hospital, securities company, bank and large properties, Tram Be, the banking tycoon, and his family amassed a huge fortune until the day he was arrested.

The powerful businessman who caused chaos in the banking sector

VietNamNet Bridge - The businessman Tram Be became even more famous after a hostile takeover deal in the banking sector, taking a key position at Sacombank and changing the fate of the bank.

How is the once ‘powerful trio’ of banks doing now?

VietNamNet Bridge - ACB, Sacombank and Eximbank, the three most influential banks in the south, like MB and Techcombank in the north, are encountering serious difficulties.

Dang Van Thanh regains strength, makes impressive comeback

VietNamNet Bridge - There are signs showing that Dang Van Thanh, a one-time tycoon, is returning to business with ambitious plans.

The ups and downs of banking tycoons

VietNamNet Bridge - Nguyen Duc Kien, or ‘mogul Kien,’ and Tram Be once had long arms in the banking sector. But not now.

Vietnam may see record number of M&A deals in 2016

VietNamNet Bridge - Foreign investors’ high interest in the consumer goods sector which has been growing very rapidly in recent years is believed to help boost merger & acquisitions (M&A), according to VnExpress.

Bad debts eating bank profits

 A series of banks are facing towering bad debt provisions that ate up their profits for the first three quarters of the year, which had been promisingly reported.

Major takeover deals planned

Vingroup has spent huge sums of money to take over Maximark, while KIDO Group has decided to invest in Rong Viet Securities Company. Meanwhile, VTV national TV has announced it will withdraw capital from subsidiaries.