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27th Euro Finance Week
The 27th Euro Finance Week is one of the largest and most prestigious financial events in Europe, taking place annually in November in Frankfurt, Germany.
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HDBank wins IR Award for Individual Investors’ Best Choice
The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, stock code: HDB) received the Financial Large Cap Individual Investors’ Best Choice award at the 2024 IR Awards ceremony held in HCM City on Tuesday.
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SBV and BCC sign MoU on Cooperation
On September 26, 2024, in Havana, the capital city of the Republic of Cuba, the State Bank of Vietnam and the Central Bank of Cuba (Banco Central de Cuba - BCC) signed a Memorandum of Understanding (MoU) on the Cooperation under the witness of Party General Secretary and State President To Lam, and First Secretary and President of Cuba Miguel Díaz-Canel.
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Fed rate cut expands Vietnamese monetary policy flexibility
The decision to cut interest rates by 50 basis-point in last week's Fed meeting is expected to have several positive impacts on the Vietnamese economy, specifically by alleviating exchange rate pressures and allowing the State Bank of Vietnam to implement a more accommodative monetary policy.
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Vietnamese banks aim to become among top 100 in Asia
Credit capacity, low interest rates, and comprehensive digital transformation are key areas that Vietnam's commercial banking system must focus on to break into Asia's top 100 banks.
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Government proposes VNĐ20.6 trillion boost for Vietcombank to enhance financial capacity
The Government has proposed the National Assembly (NA) to consider pumping an addition of VNĐ20.695 trillion (US$842.8 million) worth of State capital into the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to improve its financial capacity for expanding international reach and for it to become one of Asia’s 100 largest banks.
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Many banks stop transactions of ATM magnetic cards
Many banks have recently announced they are stopping transactions of domestic automated teller machine (ATM) cards with magnetic strips, to ensure security for customers in the context of increasing cyber crimes.
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To comment on draft amendments to Circular No. 11/2022/TT-NHNN
The Vietnam Banks Association (VNBA) has just sent an official dispatch to the General Directors of member organizations inviting comments on the draft Circular amending and supplementing a number of articles in Circular No. 11/2022/TT-NHNN (Circular 11) regulating bank guarantees.
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MUFG Bank Vietnam and Zeroboard forge partnership in support of decarbonisation management
On September 17, 2024, MUFG Bank Vietnam entered an MoU with Zeroboard Inc., a Japanese tech startup that helps companies calculate and visualise their greenhouse gas emissions across operations and supply chains.
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Financial transparency to resolve lending bottlenecks
Amendments to the Independent Auditing Law by the Ministry of Finance are poised to create more transparency in financial reports, helping to attract more foreign investors to Vietnamese businesses and alleviate the lending burden on banks.
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SBV always creates favorable conditions for the development of joint stock commercial banks
On September 21, 2024, at the meeting between the Government’s Standing Committee with the joint stock commercial banks on possible solutions to boost the socio-economic development, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) affirmed that the SBV always creates favorable conditions for the development of businesses in general, including joint stock commercial banks in particular.
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Vietnam Banks Association and AMRO have working session
On the afternoon of September 19, 2024, a delegation from the ASEAN+3 Macroeconomic Research Organization (AMRO) led by Dr. Sumio Ishikawa - Team Leader and Economist at AMRO visited and worked at the Vietnam Banks Association (VNBA) to update and discuss a number of contents related to banking activities.
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VNBA receives comments and completes draft of International Money Transfer Rules
On September 18, 2024, the Vietnam Banks Association (VNBA) held a meeting of the Working Group to develop a Code of Conduct and unified practices on the list of documents and document verification for overseas remittance transactions of residents who are Vietnamese citizens (Code of Conduct). The purpose is to discuss and reach agreement on some issues that are still stuck in the process of drafting the Code of Conduct and to receive comments to complete the draft for promulgation.
