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.

Bancassurance income is set to have much potential to grow both at sector-wide and individual bank level, according to a brokerage.

The circular lists cases that credit institutions are granted a reserve requirement waiver or a lower reserve requirement ratio.

Fitch analysts were upbeat about continued strong economic growth in Vietnam, which makes near-term stress unlikely and underpins their stable outlook for the banking sector.

Vietnam is committed to opening the financial market to foreign investors, particularly in financial services.

Despite high costs, domestic banks are issuing more chip cards that meet EMV standards to replace magnetic strip cards in order to improve security and meet the central bank’s regulations.

It is a rare combination where Vietnamese banks are growing fast and are quite profitable, said an expert at JP Morgan.

The total assets of commercial banks under state ownership accounted for 43.4% of the total of the banking sector, followed by joint stock commercial banks with 41.4%.

The merger and acquisition market in banking industry in the first half of this year has received new signal when Korean bank became a major shareholders of BIDV in early November with a record M&A deal worth US$890 million.

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.

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.

For the first time in years, the Bank for Investment and Development of Vietnam (BIDV) has fallen out of the list of the top five profitable banks in the face of the strong growth of joint-stock commercial banks.

The Vietnam Report JSC and online newspaper VietNamNet held a ceremony in Hanoi on November 6 to announce the Profit500 2019 list.

Credit has been growing steadily in the last nine months, helping commercial banks make fat profits.

Vietnamese banks belong to a handful of examples that combine well two factors of high growth of profit and long-term stability.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on November 1.

Vietcombank is heading to Australia and could open for business in Sydney within the next 12 months.

Bank for Foreign Trade of Vietnam (Vietcombank) reported $757.59 million in consolidated profit in the first nine months of this year, surging 50.6 percent from the same time last year and reaching 85.8 percent of the yearly plan.

Brokerages proposed different scenarios for the movement of VN-Index from now until the end of the year depending on the world's economic growth prospects.

Insurer FWD Group Ltd. is nearing an agreement to pay about $400 million for a unit of Vietcombank, and a long-term insurance distribution agreement with the bank, Bloomberg reported.