Update news vietnamese banks
Many commercial banks have announced changes of their key personnel this year, especially after shareholders’ meetings.
The divestment of PGBank from Petrolimex is coming to an end. The secret buyer will be made public soon.
The Southeast Asia Commercial Joint Stock Bank (SeABank) said on April 3 that the Asian Development Bank has doubled the trade finance limit to $60 million, and increased the $5-million limit of the revolving loan for the bank to $10 million.
Foreign investors’ continuous investment in Vietnam has shown their optimistic about the country’s economic outlook, despite the difficult situation of the global banking sector.
VGP - Moody's Investors Service, a leading provider of credit ratings, research, and risk analysis, has raised ratings of eight Vietnamese banks.
BIDV, VietinBank and Vietcombank, the three banks out of the ‘big four’, are leading in capital mobilization and lending, according to the State Bank of Vietnam (SBV).
Despite bullish business results in the first nine months of the year, many commercial banks in Vietnam are facing a risk of rising bad debts.
Besides Basel II, many banks have also applied Basel III and IFRS 9. These international standards help banks improve risk management compared with peers.
The local banking sector will have more opportunities to improve its financial capacity as well as learn modern business models and management from UK partners after the UK-Vietnam Free Trade Agreement takes effect.
Though there are currently no regulations that require the application of Basel III international banking standards, some banks have pioneered the implementation of the norms and are expected to complete the work soon.