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The Code for One-Way Remittances Outward: A Win-Win for All
The Vietnam Banks Association (VNBA) has just issued a set of unified rules and practices on the list and principles of providing documents for one-way remittance transactions abroad by residents who are Vietnamese citizens (hereinafter referred to as the "Code"). This Code will bring benefits to customers, banks and management agencies.
VPBank to take over GPBank
The move is meant to help improve GPBank's operations as well as allow VPBank to expand its business. VPBank may either retain GPBank as a subsidiary, or sell or transfer the bank to a new investor after the mandatory transfer is completed.
Innovative banking drives CASA recovery to 20 per cent threshold
In 2024, the Current Account Savings Account ratio in Việt Nam’s banking sector rebounded from its lowest point and stabilised at around 20 per cent.
Bank transfers lead to rebranding phase
Vietnam’s banking landscape is being reshaped by mandatory transfers, marking a pivotal step in stabilising weak banks and strengthening the sector.
Out-of-court walkouts: More debt settlement options for credit institutions
On the morning of December 17, 2024, in Hanoi, the Vietnam Banks Association (VNBA) in collaboration with the International Finance Corporation (IFC) organized a workshop on "Out-of-court walkouts - International practices and practical experience" to help VNBA members update new knowledge and experience in handling bad debt.
Banking stabilisation on cards with mandatory deals
The domestic banking merger and acquisition landscape is being reshaped by mandatory transfers, marking a pivotal step in stabilising weak banks and strengthening the sector’s foundation.
Massive dividends on offer to bank shareholders
Vietnamese banks envisage distributing dividends to their bank shareholders this year.
For the first time, a Vietnamese bank has total assets exceeding US$100 billion
The Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV) reported to have a total consolidated assets reaching nearly VNĐ2.576 quadrillion (US$101.6 billion) as of September 30, up 12 per cent over the beginning of this year, making it the biggest bank in the country.
Year-end credit growth driven by industrial sector
The stock, banking, and investment markets are awaiting the release of third-quarter financial reports, with corporate lending banks expected to show strong growth in Q4, while consumer lending banks may continue to face hurdles.
Acquisitions to help boost restructuring of weak banks
Despite the financial hurdles in restructuring zero-VND banks, the process also presents immense opportunities for acquirers as they can leverage the restructuring to strengthen their market presence, long-term strategies, and foreign ownership limits.
State-owned banks struggle to increase capital
While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
Banks set to stimulate credit growth in last quarter
Banks are developing favourable credit schemes for the manufacturing and business sectors, while relaxing lending standards across all customer groups and the majority of loan sectors in the last quarter of the year.
Banks reduce interest rates, offer new loans for customers affected by Typhoon Yagi
Several private and State-owned banks have reduced interest rates and offered debt relief for customers affected by Typhoon Yagi.
Banks limits foreign room, waiting for strategic buyers
Commercial banks have been holding back on increasing their foreign ownership ratio, or foreign room, to wait for suitable strategic buyers in the future, according to industry leaders and insiders.
Top 10 reputable commercial banks for 2024 unveiled
The Vietnam Report JSC on June 10 unveiled its annual list of Việt Nam’s Top 10 Reputable Commercial Banks for 2024.
Other Member
Vietnam Bank for Agriculture and Rural Development (Agribank)
Chairman: Mr Phạm Đức Ấn
CEO: Mr Phạm Toàn Vượng
Authorized capital: 34.446.863.milions VND (up to date 31/12/2022)
Head Office: No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
Website: https://www.agribank.com.vn
MUFG Bank, Hanoi Branch
Chairman:
CEO: Mr Masao Kojima
Authorized capital: 105.000.000 USD (as of 12/31/2022)
Head Office: 10th Floor, Tower 1, Capital Place, 29 Lieu Giai Street, Ngoc Khanh Ward, Ba Dinh District, Hanoi, Vietnam
Website: https://www.bk.mufg.jp/global/globalnetwork/asiaoceania/hanoi.html
Indovina Bank Limited (IVB)
Chairman:
CEO: Mr LIU CHUN HAO
Authorized capital:
Head Office:
Website: https://www.indovinabank.com.vn/
VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE (VIETINBANK)
Chairman: Mr Trần Bình Minh
CEO: Mr. Đỗ Thanh Sơn - Deputy General Director - In charge of the Executive Board
Authorized capital: 48.057.506.090.000 (up to 31/12/2022)
Head Office: 108 Tran Hung Dao, Cua Nam Ward, Hoan Kiem District, Hanoi City, Vietnam
Website: https://vietinbank.vn
Công ty Cổ phần dịch vụ Trực tuyến Cộng Đồng Việt (VietUnion) - Payoo
Chairman:
CEO:
Authorized capital:
Head Office:
Website:
Industrial and Commercial Bank of China Limited (ICBC), Hanoi City Branch
Chairman:
CEO:
Authorized capital:
Head Office: Floor 1&3 Daeha Business Center , No.360 Kim Ma Str.,Ba Dinh Dist.,Hanoi
Website: https://hanoi.icbc.com.cn/vn/column/1438058394518175799.html
