January 18, 2012
Many lenders in Vietnam are trying to attract individual clients Many banks in Vietnam are targeting retail savings as large but short-term deposits from corporate clients prove to be a volatile funding source. Bankers said while term deposits from individual customers are usually small, they make up a stable source of capital for banks. On [...]
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January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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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 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
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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 needs to implement the restructure of both small and large banks in a drastic manner, an economist says. The central bank has approved the merger of three small banks – Ficombank, Saigon Commercial Bank, and Vietnam Tin Nghia Bank – that are mired in liquidity problems. The restructure of banks will continue for the [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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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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December 2, 2011
The State Bank of Vietnam will sign a joint-circular with the Ministry of Public Security to improve anti-crime efforts in banking and lending activities, according to a banking conference in Ho Chi Minh City on Wednesday. Central bank governor Nguyen Van Binh made the announcement at the conference, where officials pointed out that the [...]
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