Update news Vietcombank

Banking sector faces client ‘confidence crisis’

VietNamNet Bridge - Commercial banks, which have suffered because of huge bad debts, have had to deal with another problem – the ‘confidence crisis’ caused by a series of recent phishing attacks.

Banks want to sell stakes owned by state

VietNamNet Bridge - Experts believe that the state should not only sell its shares in 12 large corporations as instructed by the Prime Minister, but also sell shares in other enterprises, including commercial banks.

Vietnam’s e-commerce overshadowed by VND500 million phishing case

VietNamNet Bridge - A series of phishing attacks in which bank account owners lost billions of dong have cast a shadow on Vietnam’s e-commerce market, estimated to have total value of $4 billion.

Businesses prefer issuing corporate bonds to borrowing from banks

VietNamNet Bridge - With reasonable interest rates, corporate bonds have become more attractive to businesses than bank loans.

Vietcombank to sell 7.73% stake

Singapore’s sovereign wealth fund GIC is set to acquire a 7.73 per cent stake on a fully enlarged basis in Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietcombank announced August 29.

Businesses target individual investors when issuing corporate bonds

VietNamNet Bridge - Large conglomerates, when issuing corporate bonds, now tend to target individual investors instead of focusing on institutional investors, according to analysts.

Vietcombank card holder loses VND500 million in phishing attack

VietNamNet Bridge - Security experts confirmed that the attack was a phishing case, but also said the victim had accessed a fake website and lost a password.

Vietnamese banks warned they will have to compete with Uber, Apple

VnExpress, an online newspaper, has opened an online shop to sell iPhones, while The Gioi Di Dong, a mobile phone distribution chain, has decided to sell vegetable and meat. 

Banks’ cross-ownership problems remain unsolved

VietNamNet Bridge - The State Bank of Vietnam (SBV) has decided that banks’ cross-ownership must end by February 2016. However, according to banking experts, the bank network remains ‘as interlaced as a spider’s web’.

Commercial banks raise charter capital as opportunities increase

VietNamNet Bridge - Figures released by the State Bank of Vietnam and financial reports by commercial banks show that total charter capital of 35 Vietnamese commercial banks reached VND331.069 trillion by December 31, 2015.

Banks rush to lift foreign ownership ratio ceiling

VietNamNet Bridge - A series of banks have unanimously expressed their wish to lift the foreign ownership ratio ceiling, saying that the current ceiling of 30 percent is not high enough to attract investors to the banking sector.

Loading and unloading of goods threatens Ha Long Bay

VietNamNet Bridge - The loading and unloading of bulk commodities which can cause environmental pollution, such as cement, clinker and woodchips, have resumed on the Ha Long Bay despite the ban in 2012.

Five Vietnamese firms among Nikkei’s 300 most dynamic companies in Asia

VietNamNet Bridge - Included in the list of the most dynamic companies in Asia, or the Asia 300 of the Japanese news agency Nikkei, Vietnam has five businesses: Vingroup, Vietcombank, FPT Group, PetroVietnam Gas and Vinamilk.

Manufacturers fear loss of household product market to foreigners

VietNamNet Bridge - The majority of Vietnamese are fond of foreign-made products, causing obstacles for Vietnamese household goods manufacturers. 

Hunting for pearls in Vietnam

VietNamNet Bridge - Big money has been poured into pearl projects in Vietnam, which has a long coastline of 3,600 kilometers, but profits have sometimes been unsatisfactory.

More land taken from natural reserves, national parks

VietNamNet Bridge - Road building projects that would pass through natural reserves have been proposed, while many resorts have been built in national parks. 

‘Drown’ vulnerability threatening computer systems

The Bach Khoa Anti-virus Center (BKAV), the leading internet security group, has warned that hundreds of important systems in Vietnam are at risk of having clients’ information stolen through vulnerability Drown on websites using https protocol. 

Banks still cannot put bad debt burden down

VietNamNet Bridge - The bad debt ratio of the banking system has decreased, but the bad debt value has begun to increase again.

High school students like geography, fear history

VietNamNet Bridge - A high percentage of students have decided to take the geography test for the 2016 high school finals, while history is the choice of very few students.

VTV to sell 49 percent of stake in VTVcab

VietNamNet Bridge - The national television VTV is looking for strategic partners for VTVcab, one of its subsidiaries now undergoing equitization.