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State-owned VietinBank is selling 358 foreclosed properties pledged by loan borrowers, including four- and five-star hotels, worth a total of VND8 trillion (US$337.69 million) to realize their debts. The properties will be either auctioned or negotiated for…
State-owned VietinBank is selling 358 foreclosed properties pledged by loan borrowers, including four- and five-star hotels, worth a total of VND8 trillion (US$337.69 million) to realize their debts. The properties will be either auctioned or negotiated for…
Vietnam’s benchmark VN-Index dropped 1.56 percent to 1217.30 points Friday with trading value rising double-digit. The index closed 19 points lower after gaining nearly 23 points on Thursday. It has lost 67 points this week as global markets plunged due to…
The Vietnamese government is urging banks to merge and increase their scale toward becoming more competitive. It wants to make Vietnam an ASEAN leader in the banking sector. The government wants banks to have a capital adequacy ratio of at least 10-11 percent…
VietinBank Securities eyes record profits again this year through the stock market itself is likely to be down. Its board has approved a profit target of VND505 billion ($22 million), 5 percent up from last year. Last year pre-tax profits tripled to VND480…
VietinBank has launched FX Online 24/7, allowing customers to perform transactions at any time, anywhere on platforms VietinBank eFAST and VietinBank Ipay. VietinBank focuses on innovating its system to improve FX services. Just by taking some simple steps on…
Vietnam Bank for Industry and Trade (VietinBank) has elected General Director Tran Minh Binh as the bank’s new chairman for the 2019-2024 term. The appointment came Tuesday, two months after the bank’s former chairman, Le Duc Tho, was appointed secretary of…
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 VietinBank has recorded pre-tax profits of VND13 trillion ($565.2 million) in the first six months of 2021, a year-on-year increase of 75 percent. Its ratio of non-performing loans at the end of Q2 was 1.38 percent, chairman Le Duc Tho…
The government has approved VietinBank’s plans to pay dividends for 2017-19 at a total rate of 28.79 shares for every 100 owned. The government owns a 64.46 percent stake in the lender. CTG shares gained 6.1 percent to rise to a new all-time high of VND51,200…
VietinBank Securities targets pre-tax profits of VND180 billion ($7.8 million) this year, up 20 percent from 2020, as the stock market continues to rise. The company secured a $30-million loan from a consortium of four Taiwanese banks in March and another $60…
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…
VietinBank, Vietnam’s third largest lender by assets, has reported a 40 percent increase in standalone profits in 2020 to VND16.5 trillion ($715 million). This is its highest ever profit, and chairman Le Duc Tho, speaking at a meeting on Wednesday, attributed…
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,…
Canadian insurer Manulife will acquire the Vietnamese business of British company Aviva and its 16-year bancassurance deal with VietinBank. It will take over the exclusive partnership with VietinBank when the deal is completed, Manulife and the lender agreed…
