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Tag Archives: vietnam banks

Five to eight banks to be merged in 2012

Five to eight banks to be merged in 2012

Five to eight more banks will be involved in merger in 2012 as part of the process of restructuring credit institutions, said Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh. Mr Binh made the statement at a conference on external economic affairs in Hanoi on January 11. …

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Banks flout State Bank’s deposit rate cap

Banks flout State Bank’s deposit rate cap

Many Vietnamese commercial banks continue to flout the State Bank of Vietnam’s deposit interest rate cap of 14%, offering rates of up to 20-21% per annum. The cap is intended to improve the banking sector’s liquidity, said Dr. Le Xuan Nghia, Vice Chairman of the National Financial Supervisory Committee at …

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Big Vietnamese banks seek new manganement for new year

Big Vietnamese banks seek new manganement for new year

The year of 2011 has seen the biggest human resource change at the top levels of Vietnamese banking sector, with many banks appointed new leaders. This is just part of the ongoing financial restructuring that is occurring in the country. On December 26, Vietnam Technological and Commercial Joint Stock Bank …

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Merged bank named Saigon Commercial Bank

Merged bank named Saigon Commercial Bank

The State Bank of Vietnam (SBV) officially approved the merger of Ficombank, Viet Nam Tin Nghia Bank and Saigon Commercial Bank on Dember 16, creating a new bank which will take the name Saigon Commercial Bank (SCB). The name of the new bank was adopted at a meeting of the …

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Banks Association holds fifth tenure congress

Banks Association holds fifth tenure congress

Representatives from the State Bank of Vienam (SBV) attended the fifth tenure congress of the Vietnam Banks Association (VNBA) in Hanoi on December 10, along with 54 commercial banks and financial companies. In its past term, the VNBA successfully connected its members via a number of meetings and conferences to …

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State Bank to focus on security, liquidity

State Bank to focus on security, liquidity

The State Bank of Vietnam will continue to closely monitor the monetary market and the banking sector to discover violations and help banks deal with liquidity-related problems, the bank said. These efforts are aimed at ensuring the smooth operation of the monetary market and safeguarding the interests of depositors as …

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Central bank to continue strong monetary policy

The State Bank of Vietnam (SBV)

The State Bank of Vietnam (SBV) will continue its close and flexible policy to control money supply, ensure credit growth below 18 percent, stabilise exchange rates, and reduce lending interest rates in the remaining months of this year. SBV Governor Nguyen Van Binh made the statement in Hanoi at a …

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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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Banks pursue listing plans in 2011

Military Bank

Several banks are still pursuing their plans for listing on bourse despite the dreary outlook for the capital market this year, saying the move is aimed to ensure liquidity for their shareholders. DongA Commercial Bank, Techcombank, and Military Bank are among credit institutions that are finalizing procedures to get listed …

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