Vietcombank

Update news Vietcombank

With Vietcombank making up 40 percent of total profit of four state-owned banks, the competition among the ‘big four’ banks has been reduced to the ‘big two’.

Banking profit grows 22.5% in 2020: SSI Research

Local banks may increase their pre-tax profits by 22.5 per cent on-year in 2020, SSI Securities Corporation's research unit has forecast.

Total assets of banks in Vietnam swell 9.12% to over US$518 billion

Total assets of commercial banks under state ownership accounted for 42.7% of the total in the banking sector, followed by joint stock commercial banks with 41.6%.

Consumers warned of online trading frauds on Tet holiday

Since the quantity of trading normally witnesses a significant growth when Tet holiday approaches, sophisticated frauds are more likely to happen. 

Government backs capital hike plans for four State-owned banks

 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 becomes crucial growth driver for banks in Vietnam

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

Vietnam c.bank's new circular to turn US$1.73 billion required reserves to loans

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

VN banks' capital to remain weak after Basel II delay: Fitch Ratings

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 to consider reducing ownership at state-run commercial banks

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

VN banks issues more chip cards for security

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.

JP Morgan expects high growth and profitability from Vietnamese banks

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

Total assets of banks in Vietnam increase 9% to nearly US$520 billion

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%.

Vietnam's banking industry waits for big M&A deals

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.

Vietnam’s banking sector becomes more attractive to investors

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 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.

A predicted scenario

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.

PetroVietnam tops list of most profitable firms

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

Credit is major ‘rice pot’ for Vietnamese banks

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

JP Morgan names risks related to investments in Vietnamese banks

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

Vietcombank becomes first Vietnamese bank to open rep office in US

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