Aiko TanakaFinance
Vietnam Weighs First Sovereign Dollar Bond Sale Since 2014
Foreign investment banks have pitched 10-year debt offerings of up to $1 billion to finance transport and industrial projects while easing domestic bank liquidity.
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Aiko TanakaFinance
VPBank Secures $350M Loan to Accelerate Its Sustainable Finance Initiative
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has secured a substantial $350 million term loan facility in collaboration with Sumitomo Mitsui Banking Corporation (SMBC) and various development finance institutions, marking a significant stride…
Wei ZhangFinance
VPBank eyes $1B profit
VPBank expects a pre-tax profit of VND24 trillion ($1.02 billion) this year, exceeding the $1 billion milestone for the first time since its establishment. The news comes after the bank announced the sale of a 15% stake to a Japanese financial giant. The…
Minjun ParkFinance
Bank deposit interest rates surpass 10%
Some banks have hiked deposit interest rates to 10-10.35% amid low liquidity in the system. NCB is paying the highest interest rate of 10.35% for 12-month deposits of VND1 billion (US$40,300) downwards made online. For six-month deposits, it is offering 10%.…
Wei ZhangFinance
16 banks to lower loan interests amid Covid-19
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…
Maria SantosFinance
Banking sector eyes growth potential
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…
Minjun ParkFinance
VPBank profits jump 26 pct
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…
Maria SantosFinance
Vietnam’s interest rate rises in the lead-up to biggest national holiday
Banks have hiked deposit interest rates by 0.1-0.5 percentage points as the country’s spending demand surges prior to Tet. Private lender Asia Commercial Bank last Friday introduced a new interest schedule with an increase of 0.2-0.3 percentage points in…
Sarah ChenFinance
VPBank gets all clear to offer 1.3bln shares on Saigon market debut
The bank’s market capitalization is expected to reach $2.5 billion following the offering. The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) was given approval on August 8 to list on the Ho Chi Minh Stock Exchange (HoSE). The bank plans to make its…