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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…
Four Vietnamese lenders, three state-owned and one private, are among the world’s top 500 most valuable brands this year. In an annual ranking by BrandFinance, VietinBank was ranked 242, BIDV, 307, Vietcombank, 325, and VPBank, 361. Last year, VietinBank,…
Two of Vietnam’s largest banks reported contrasting performances in 2018, with Vietcombank’s profits rising by 63.5 percent and Vietinbank’s falling by 27 percent. Vietcombank, the largest listed bank by market capitalization, said profit before tax was…
Vietcombank, Vietnam’s largest bank by market cap, has received permission from the securities watchdog to sell a 3 percent stake to foreign investors. The green light from the State Securities Commission (SSC) will allow the lender to make a private…
Vietcombank VCB.HM has made a significant step in becoming the first Vietnamese bank to open a representative office in the U.S. The move by Vietnam’s biggest bank by market value comes as diplomatic ties between Vietnam and the U.S. are on the rise and is…
Commercial banks in Vietnam have posted impressive growth, with profits doubling or even tripling over last year’s first nine months. The Bank for Foreign Trade of Vietnam (Vietcombank) has announced profit before tax (PBT) of VND 11.68 trillion ($502.16…
Most Southeast Asian stock markets slumped on Thursday, following a tech rout on Wall Street that saw the year’s gains being wiped out. Disappointing forecasts from chipmakers beat down the tech sector, sending investors scurrying to the safety of sovereign…
Vietnam’s State Securities Commission has received an application from Vietcombank for a private placement of shares worth over $156.5 million. The commission (SSC) said the country’s third largest bank by assets proposes to make a private issue of 360…
The commission (SSC) said the country’s third largest bank by assets proposes to make a private issue of 360 million shares, equivalent to 10 percent of its charter capital. The lender plans to sell nearly 54 million shares to its strategic partner, Japan’s…
Three top Vietnamese banks have been struggling to increase their capital to meet international adequacy norms. The second Basel Accords, or Basel II, prescribe capital of 8 percent of risk-weighted assets for all financial institutions, including in Vietnam,…
Multiple banks in Vietnam have made bad investment decisions in recent years, according to a new report by the State Audit Office of Vietnam (SAV). Nine major financial organizations and banks were audited by the SAV in terms of management and use of state…
Commercial banks have adjusted their service fees to individual customers since beginning of the year in order to focus on the retail segment. For money transfer services in the same banking system, some commercial banks, such as VIB, VietinBank and…
Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) and Nghi Sơn Petrochemical and Refinery LLC (NSRP) on Thursday signed a Memorandum of Understanding (MoU) on converting bank service. Under the MoU, Vietcombank will be the sole bank to…
Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) has registered to sell 7.6 million shares of Vietnam Airlines Corporation, which is listed as HVN on the stock market. The transaction is expected to take place from January 24-February…
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