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Tag Archives: Vietnam banking industry

200 industries affected amid credit crunch

200 industries affected amid credit crunch

Up to 200 realty-related industries , both in production and service, have been badly affected as banks are tightening lending for the real estate sector to meet the government’s requirement in limiting non-production loans. In early March, the State Bank of Vietnam (SBV) ordered that commercial banks have to gradually …

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Lien Viet Bank changes name

Shareholder meeting of Lien Viet Commercial Joint Stock Bank (LienVietBank) last week agreed to change the bank’s name to Lien Viet Post Commercial Joint Stock Bank. Viet Nam Post Corporation (VNPost) will become a major shareholder in the bank. The deal allows VNPost to use its subsidiary Postal Saving Service …

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SeABank charges overnight saving rate at 12pct/yr

bank

Southeast Asia Commercial Joint Stock Bank (SeABank)’s Cong Hoa branch (HCM City) has officially launched “Tiet kiem thong minh” or “Smart Saving” product with the overnight saving rate of 12 percent per year. In addition, SeABank also issued Master card for customer for 45-day purchase of goods without interest with …

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PGBank expects 91pct pre-tax profit growth in FY2011

petro

Petrolimex Group Commercial Joint Stock Bank (PGBank) has recently announced the resolution of its AGM with 2011 business plan of 979.2 billion dong of total income and 560.4 billion dong pre-tax profit, growing 51 percent and 91 percent year-on-year respectively. The bank also expects this year minimum dividend payout at …

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Techcombank buys credit risk package

risk

Techcombank yesterday signed a contract with Dublin-based information services provider Experian to buy a package of credit risk and analytical services. Although the value of the contract was undisclosed, Techcombank expected the service package would provide a platform that would enable it to validate consumer credit applications from multiple channels, …

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