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Vietcombank Remittance Company was awarded the “Excellence Money Transfer Company” and “Best Home Payment Service Provider” titles by U.K.-based Global Banking and Finance Review magazine. Global Brands Magazine (GBM) is a prestigious U.K. online publication…
Vietnam’s biggest state-owned lender, Vietcombank, has named Pham Quang Dung as its new chairman until 2023. Dung, 48, has been its CEO and a member of the board since 2014. Nguyen Thanh Tung, deputy director, temporarily takes over as CEO until a new person…
Sixteen commercial banks have agreed to reduce interests on existing loans of Covid-hit businesses from now until the end of the year. The banks include Vietcombank, Vietinbank, BIDV, Agribank, Techcombank, MB, VPBank, TPBank and Sacombank. Lowering interests…
State-owned lender Vietcombank reported a VND14.8 trillion (nearly $643.5 million) profit in the first half of the year, up more than 35 percent year-on-year. A senior Vietcombank official who did not want to be named said Monday that the rise in profit can…
Vietnam Report JSC recently announced the nation’s Top 10 prestigious and effective public companies for 2021 with six banks including Vietcombank, ACB, VPBank, VIB, MBBank and Techcombank. Over the past two years, these banks have been recognized by…
Vietnam’s benchmark VN-Index rose 0.61 percent to 1,268.28 points Tuesday, a new peak, led by Vietcombank and Vinhomes tickers. The index was on an upward trend throughout the day, hitting the 1,286 mark in the early afternoon before falling to the 1,260…
Nine Vietnamese lenders, five of them state-owned, have risen up the list of the world’s 500 most valuable banking brands. State-owned Agribank, one of the ‘Big 4’ state-owned lenders, jumped 17 places to 173th in the annual ranking put out by U.K.…
Lender VPBank reported a 26 percent jump in pre-tax profit last year to VND13 trillion ($564.24 million). The second and fourth quarters saw its highest ever quarterly profits of VND3.67 trillion and VND3.62 trillion. The lender’s profits exceeded those of…
State-owned lender Vietcombank has announced credit growth and pre-tax profit targets of 12 percent and VND25.2 trillion ($1.09 billion) for 2021. The 12 percent credit growth target matches the target set for the banking industry as a whole, the lender said.…
Banks made huge profits in 2020 although the economy grew at the slowest rate this decade and 70 percent more companies shut down than in 2019. VietinBank, Vietnam’s third largest lender by assets, reported a 40 percent increase in profit. Vietcombank…
The credit market share of Vietnam’s three largest banks has fallen by 2.7 percentage points in the last two years due to liquidity constraints. The three, all state-owned and listed and the country’s largest by assets, Vietcombank, Vietinbank and BIDV,…
Vietcombank’s profits are set to decline for the first time since 2013 due to slower credit growth amid the Covid-19 pandemic, a brokerage forecast. The country’s most profitable lender’s pre-tax profit could fall by 1.6 percent to VND22.75 trillion ($984…
The pretax profit of state-owned lender Vietcombank in the third quarter fell over 20 percent to VND4.9 trillion ($210.9 million) over pandemic impacts. The bank said that provision for bad debt, which rose 35 percent year-on-year to VND2.02 trillion, and…
Vietcombank is selling its stake in a JV with French life insurance firm BNP Paribas as part of a possible bancassurance deal with a foreign buyer. Its board of directors passed a resolution approving the divestment of an unspecified stake in Vietcombank –…
Vietcombank, one of Vietnam’s leading banks, has received approval from the central bank to open a branch in Australia. The branch will open in Sydney and have a registered capital of AUD71 million ($48.08 million), according to the State Bank of Vietnam’s…
HÀ NỘI The State Bank of Vietnam (SBV) has assigned a credit growth limit to each commercial bank in 2019, with priority given to those who met Basel II’s capital safety and risk management standards ahead of schedule. According to the current regulation, the…
