VietinBank

Update news VietinBank

 The Viet Nam Bank for Industry and Trade (VietinBank) will list all shares owned by the State Bank of Viet Nam (SBV) on the HCM City Stock Exchange soon.

Appeal court upholds life sentence on ex-banker in fraud case

The appeal court upheld the life imprisonment sentence for Huynh Thi Huyen Nhu, former deputy chief of the Risk Management Department of the Ho Chi Minh City branch of Vietinbank, on January 7.

Social News 4/1

 Vietnam wins legal dispute; Vietnam Airlines operates over 118,000 safe flights in 2014; Massive fire in Quang Binh market destroys kiosks; Son La smashes 850 drug trafficking cases; HCM City's outstanding young citizens honoured

VietinBank requested to return embezzled money

The Supreme People’s Procuracy in HCMC on December 25 told VietinBank to pay back $46.7 million deposited at the bank by five corporates but expropriated by Huynh Thi Huyen Nhu, former deputy chief of the risk management department of the lender.

Woman’s worthless 30-yr-old deposit creates media frenzy

 VietNamNet Bridge – Gold, vegetables and a bank feature in the story of Le Thi Bich Thuy, a customer at VietinBank who received the paltry sum of VND4,385 for a deposit made 30 years ago.

BUSINESS IN BRIEF 1/12

Overseas remittances to hit US$12 billion in 2014; Electronics, appliance sales surge to 1.3 billion USD; Quang Ngai’s Dung Quat economic zone attracts investment flows; Shutdowns exceed 60,000 in 11 months

BUSINESS IN BRIEF 12/9

Vietnam joins Summer Davos forum 2014; Vietnam issues rules for securities lending; Foreign banks offer syndicated loan to VietinBank; Building materials industry under realignment; Vung Ro oil refinery to turn out first products in 2020

BUSINESS IN BRIEF 22/8

Vietinbank pledges $81.9m for highway; Businesses unaware of competition rules; Outlook positive for local markets; HCM City hosts Int’l franchise exhibition; Vietnam to cut tax paperwork to 171 hours in 2015; Korean coffee shop chain enters Vietnam

ACB takes legal action against VietinBank

VietNamNet Bridge – Asia Commercial Bank has persistently declined to act as a civil plaintiff in the case of the bank’s former vice chairman Nguyen Duc Kien and is taking legal action against Vietnam Commercial Bank for Industry and Trade

BUSINESS IN BRIEF 20/5

 First Vietnamese business receives GTB Innovation Award; Trade surplus rises to over US$2 billion; Exports to Israel nearly double; Int’l cashew nut processors convene in Ba Ria-Vung Tau;

Two Vietnamese firms among the world’s largest businesses

 VietNamNet Bridge - Vietnam Gas Corporation (PetroVietnam Gas) and the Vietnam Industrial and Commercial Bank (VietinBank) are Vietnamese’s two representatives of the top 2,000 largest enterprises in the world this year.

Bank restructuring path trends towards the merger

 VietNamNet Bridge – Small banks merging into bigger banks is becoming a growing trend in Vietnam. This is what the State Bank wants to see to implement its plan to halve the number of commercial banks after three years.

BUSINESS IN BRIEF 20/3

 Vietnam tops list of fastest growing ultra-rich; Vietinbank to open branch in Laos; March CPI sees lowest increase in a decade; Vietnam Logistics index launched; Japan's Nissin opens $75m auto facility

BUSINESS IN BRIEF 11/3

 Four oil refineries due to enter operation by 2030; Zero tax levied on two Cambodian import items; VietinBank to loan $7.8m to textile firm; VN forecast to return to fast growth; Work begins on $1.3b thermal power plant in Binh Thuan

VN wants to keep at least 65% equity in state-owned banks

Except Vietinbank, other State-owned commercial banks are not allowed to sell more than 35% of the shares. The government has also permitted State-owned corporations to divest from non-core business fields below the face value.

Huynh Thi Huyen Nhu makes depositors feel insecure

 VietNamNet Bridge – Lawyers have warned that if VietinBank denies the responsibility for its worker’s behavior of appropriating institutions’ and individuals’ money, depositors would keep away from banks.

Life sentences proposed for cheating bank officials

 VietNamNet Bridge – Ho Chi Minh City prosecutors on January 13 demanded life imprisonment for Huynh Thi Huyen Nhu, former deputy chief of the Risk Management Department of the Vietnam Joint Stock Commercial Bank for Industry and Trade,

BUSINESS IN BRIEF 3/9

 Local shopping website signs deal with Sumitomo; Viettel expands mobile market in Cameroon; HP unveils SME-tailored servers; Thai Nguyen steel mill starts work

The companies top for payroll in Vietnam

 VietNamNet Bridge – In this list are the corporations in the fields of oil and gas, power and finance-banking.

BUSINESS IN BRIEF 20/7

 Vietinbank targets capital of over 1.7 billion USD; Banks see profit targets beyond reach; DHG transfers brand to Thai partner; Accenture suggests solutions to raising port efficiency