January 11, 2012
An upswing in mergers and acquisitions in the banking system will occur this year, bringing the number of banks in Vietnam to below 30, the Dau Tu (Investment) newspaper has reported, citing experts. Economist Nguyen Tri Hieu said there will be a strong M&A wave in the sector as many lenders are looking for [...]
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January 6, 2012
Vietnam's banking system is relatively sizeable and efficient, a report said Vietnam has a relatively sizeable and efficient banking system but it suffers from underdeveloped institutional and business environments, according to a new report by the World Economic Forum. The country dropped four places from last year to rank 50th in the forum’s fourth annual [...]
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December 25, 2011
After years of sky-rocketing credit growth to finance development, Vietnam’s banking system is now weighed down by toxic loans that have forced the communist nation to launch tough reforms. The Southeast Asian country’s financial sector consists of about a hundred banks — either state-owned, private or foreign bank branches. But most have only limited [...]
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December 19, 2011
Vietnam will restrict the establishment of new banks next year The State Bank of Vietnam has introduced new regulations to restrict the establishment of new banks, including one that doubles the minimum asset requirement to VND100 trillion (US$4.75 billion). Under the regulations, which will come into effect this February, founding shareholders of a bank are [...]
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December 5, 2011
Slowing inflation and talk of financial reforms have not boosted market sentiment as expected, and analysts are predicting the worst will not be over any time soon. Phan Dung Khanh, research manager at Kim Eng Vietnam Securities Co., said the stock market may move sideways or only recover slightly next year. Macroeconomic measures taken [...]
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November 28, 2011
The central bank has completed a plan to restructure the banking system. Vietnam’s central bank said it will consider lowering the dong deposit rate cap in December, admitting that the cap has created an advantage for large banks over smaller lenders. The 14 percent cap was introduced at the end of 2010, but until last [...]
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November 26, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Vietnam’s central bank unveiled plans to create a three-tiered financial industry dominated by 15 lenders as part of efforts to allay concerns over the nation’s banking system. The country aims to have 15 “big” banks by [...]
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November 24, 2011
Vietnam Joint Stock Commercial Bank for Industry & Trade (CTG), known as VietinBank, has received approval from the country’s central bank for its planned $500 million international bond sale, Deputy General Director Le Duc Tho said in a telephone interview. “Our plan is to sell the bonds in the fourth quarter, but in reality [...]
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November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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November 9, 2011
Vietnamese lawmakers backed a plan that aims for annual economic growth of as much as 7 percent through 2015 and seeks to quell Asia’s highest inflation. The National Assembly approved an objective of 6.5 percent to 7 percent annual economic expansion from 2011 to 2015 and a goal of reducing inflation to 5 percent [...]
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