September 20, 2011
Asia Commercial Bank’s assets will probably more than triple by 2015, making it the first non- government lender to overtake one of Vietnam’s four biggest lenders, Chief Executive Ly Xuan Hai said. Assets of Asia Commercial Bank, the nation’s fifth-biggest bank, are expected to climb to VND900 trillion ($43 billion) by 2015 from about [...]
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December 4, 2009
LookAtVietnam – Standard Chartered Bank predicts foreign capital inflow into Vietnam will increase significantly despite an export growth slowdown. The bank’s team believes domestic consumption will still be the driving force of Vietnam’s economy in 2010. The Government of Vietnam will strengthen investments in infrastructure in 2010 in order to boost economic development. However, Standard [...]
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November 30, 2009
LookAtVietnam – International organizations have released reports lauding the decision by SBV to adjust the dong/dollar rate and basic interest rate. The International Monetary Fund (IMF) considers the move by SBV to be a positive signal about the government’s determination to tackle macroeconomic risks. “I think the decisions that they have announced … signal that they [...]
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November 27, 2009
A bank staff counts US dollar notes at an Asia Commercial Bank branch in Ho Chi Minh City The central bank has devalued the dong and raised interest rates earlier than expected in an attempt to rein in accelerating inflation and a widening trade deficit that is eroding confidence in the local currency. The State [...]
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October 15, 2009
VietNamNet Bridge – Foreign banks are expanding their network to try to penetrate Vietnamese markets. In the latest report by the State Bank of Vietnam (SBV), Vietnam has 51 credit institutions, including five 100 percent foreign owned banks, 38 foreign bank branches, four finance companies and four finance leasing companies belonging to foreign banks. In [...]
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September 7, 2009
LookAtVietnam – Domestic banks themselves say they are not afraid of foreign banks. Sources say that applications for setting up 100 foreign-owned banks in Vietnam are now on the tables of management agencies. However, this information has not frightened domestic bankers. To date, five 100 foreign-owned banks have been licenced, but only three banking groups have [...]
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September 5, 2009
A female worker sews shirts at a Vietnamese garment company in Hanoi. Vietnam is likely to maintain its export earnings at the same level as last year on the strength of market expansion and partial recovery of the world economy, experts say. âIn the context of the world economy recovering faster than expected, and firms [...]
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September 2, 2009
LookAtVietnam – Larger volumes of liquidity provided by authorities and positive reactions from market participants have stabilised the forex market. Market participants are now all rowing in the same direction LookAtVietnam – Larger volumes of liquidity provided by authorities and positive reactions from market participants have stabilised the forex market. According to an Eximbank source, [...]
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August 29, 2009
Vietnam’s 5-year bonds post biggest weekly drop in two months; Standard Chartered opens Vietnam-based unit; Staple agriculture exports increase but prices drop UK-based bank Standard Chartered opened its locally-incorporated entity, Standard Chartered Bank Vietnam Limited, according to a statement released by the lender Friday. Standard Chartered Vietnam Limited’s investment in Vietnam is around US$500 million [...]
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August 26, 2009
Sellers at a market in Hanoi. Consumer prices rose 2 percent in August from a year earlier, the weakest pace since January 2002. Vietnamese inflation slowed to the lowest level in more than seven years, benefiting from comparison with the peak of a surge in prices in 2008. Consumer prices rose 2 percent in August [...]
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