Commercial banks are facing challenges, including an increase in bad debts because of Covid-19 and pressure that has forced them to increase charter capital. But bank shares remain attractive to investors.
Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has announced a 30 trillion VND (over $1.28 billion) credit package to support its customers to overcome difficulties amid the COVID-19 pandemic.
Since the quantity of trading normally witnesses a significant growth when Tet holiday approaches, sophisticated frauds are more likely to happen.
The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Viet Nam (SBV) Le Minh Hung.
Two of the five richest people in Vietnam had a poor start to the new year as they saw their net asset worth decrease.
Vietnam is committed to opening the financial market to foreign investors, particularly in financial services.
Domestic banks are in a position to complete their 2019 profit targets if they finish the year on a high.
It is a rare combination where Vietnamese banks are growing fast and are quite profitable, said an expert at JP Morgan.
Growing attractiveness of Vietnamese banks' shares is thanks to a positive revamp and strong outlook of the sector, particularly as Vietnam is accelerating global economic integration.
Vietnamese banks belong to a handful of examples that combine well two factors of high growth of profit and long-term stability.
The Asian Banker continues to honour the 500 strongest banks in the Asia-Pacific in 2019 with some familiar names from Vietnam.
The US Federal Reserve’s latest rate cut will benefit commodity and equity markets in the short term, according to specialist Nguyen Tri Hieu.