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Tag: Vietcombank

Retail Asia02/02/2024
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Finance

Vietcombank continues to achieve record profits

1min0
State-owned lender Vietcombank reported record pre-tax profits of VND41.2 trillion (US$1.68 billion) for 2023. Its previous highest was VND37.4 trillion a year earlier. It made the bank the most profitable in the industry by a margin of tens of trillions of dong. Profits before credit risk provisioning were worth VND45.8 trillion, a 2.2% decline. But […]
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Retail Asia13/02/2023
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Finance

Dollar drops at banks

2min0
On Monday morning, the U.S. dollar dropped at banks but remained unchanged at unofficial exchange points. Vietcombank sold the dollar at VND23,740 Monday, down 0.02% from Sunday. Eximbank and Techcombank sold the greenback 0.04% lower at VND23,720, and VND23,745, respectively. The USD/VND exchange rate has increased by 0.04% since the beginning of the year. The […]
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Retail Asia01/02/2023
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Finance

Vietcombank names new general director

1min0
Vietcombank, Vietnam’s largest state-owned lender, named its current deputy general director Nguyen Thanh Tung as its new general director on Monday. Tung, 49, was the same day elected a member of Vietcombank’s board of management for the 2018-2023 term. He holds bachelor’s degrees in economics of international trade and English education, as well as a […]
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Retail Asia20/12/2022
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Finance

Dollar moves up at most banks

1min0
On Monday, the U.S. dollar went up against the Vietnamese dong at most banks and the black market. Vietcombank sold the dollar at VND23,800, up 0.34% from Saturday. Eximbank sold the greenback at VND23,770, up 0.30%. The rate at Techcombank is VND23,800, up 0.21%, and at ACB is VND23,900, up 0.42%. The State Bank of […]
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Retail Asia30/11/2022
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Finance

Dollar plunges at banks

1min0
The U.S. dollar plunges at commercial banks Wednesday morning, with Vietinbank selling it at VND24,785, down 0.26% from Tuesday. It dropped 0.20% to VND24,800 at Vietcombank, and 0.28% to VND24,770 at Eximbank. The State Bank of Vietnam set the reference rate 0.01% lower at VND23,665. The greenback is sold at VND24,960 on the black market, […]
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Retail Asia25/11/2022
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Finance

Dollar drops against dong

3min0
On Thursday, the U.S. dollar has weakened against the Vietnamese dong at both banks and unofficial exchange points. Vietcombank sold the greenback 0.004% lower at VND24,854. TPBank let the dollar slide 0.004% to VND24,854. Techcombank sold it at VND24,852, down 0.004%. The State Bank of Vietnam set its exchange rate at VND23,671, also down 0.004%. […]
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Retail Asia19/09/2022
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Finance

Dollar rises to all-time high against Vietnamese dong

1min0
The U.S. dollar continued to strengthen and reached its historic high against Vietnamese currency Saturday. The State Bank of Vietnam (SBV) on Saturday morning set the reference rate for the Vietnamese dong at VND23,283, the same as Friday and VND50 higher than early this week. At commercial banks, the Vietnamese dong is at its lowest […]
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Retail Asia06/12/2021
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Finance

Vietcombank Remittance Company bags two int’l awards

4min0
Vietcombank Remittance Company was awarded the “Excellence Money Transfer Company” and “Best Home Payment Service Provider” titles by U.K.-based Global Banking and Finance Review magazine. Global Brands Magazine (GBM) is a prestigious U.K. online publication and forum for top brands of the global business community. The winners are selected based on commitments and efforts in […]
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Retail Asia01/09/2021
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Finance

Vietcombank gets new chairman

1min0
Vietnam’s biggest state-owned lender, Vietcombank, has named Pham Quang Dung as its new chairman until 2023. Dung, 48, has been its CEO and a member of the board since 2014. Nguyen Thanh Tung, deputy director, temporarily takes over as CEO until a new person is appointed. Dung has 27 years’ experience in the financial and […]
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Retail Asia14/07/2021
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Finance

16 banks to lower loan interests amid Covid-19

2min0
Sixteen commercial banks have agreed to reduce interests on existing loans of Covid-hit businesses from now until the end of the year. The banks include Vietcombank, Vietinbank, BIDV, Agribank, Techcombank, MB, VPBank, TPBank and Sacombank. Lowering interests is difficult, but this is the time when banks need to share the burden with businesses, said Nguyen […]
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Retail Asia13/07/2021
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Finance

Vietcombank H1 profit surges 35 pct

2min0
State-owned lender Vietcombank reported a VND14.8 trillion (nearly $643.5 million) profit in the first half of the year, up more than 35 percent year-on-year. A senior Vietcombank official who did not want to be named said Monday that the rise in profit can be attributed to a 60 percent year-on-year increase in non-interest income, mainly […]
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Retail Asia07/07/2021
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Finance

Banking sector eyes growth potential

8min0
Vietnam Report JSC recently announced the nation’s Top 10 prestigious and effective public companies for 2021 with six banks including Vietcombank, ACB, VPBank, VIB, MBBank and Techcombank. Over the past two years, these banks have been recognized by economists and investors for their financial strength and communication capacities, their growth potential, level of sustainable development, […]
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Retail Asia21/04/2021
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Finance

Vietcombank, Vinhomes tickers drive VN-Index up

2min0
Vietnam’s benchmark VN-Index rose 0.61 percent to 1,268.28 points Tuesday, a new peak, led by Vietcombank and Vinhomes tickers. The index was on an upward trend throughout the day, hitting the 1,286 mark in the early afternoon before falling to the 1,260 range. It closed with a near 8-point gain. Trading value on the Ho […]
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Retail Asia22/01/2021
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Finance

VPBank profits jump 26 pct

1min0
Lender VPBank reported a 26 percent jump in pre-tax profit last year to VND13 trillion ($564.24 million). The second and fourth quarters saw its highest ever quarterly profits of VND3.67 trillion and VND3.62 trillion. The lender’s profits exceeded those of state giant BIDV and private lender VIB. Its income was up 7.3 percent to VND39 […]
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Retail Asia13/01/2021
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Finance

Vietcombank targets 12 procent profit growth

1min0
State-owned lender Vietcombank has announced credit growth and pre-tax profit targets of 12 percent and VND25.2 trillion ($1.09 billion) for 2021. The 12 percent credit growth target matches the target set for the banking industry as a whole, the lender said. In 2020 Vietcombank’s profit was VND23 trillion, the same as the previous year. It […]
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Retail Asia11/01/2021
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Finance

The great banking profit paradox of Covid-hit 2020

4min0
Banks made huge profits in 2020 although the economy grew at the slowest rate this decade and 70 percent more companies shut down than in 2019. VietinBank, Vietnam’s third largest lender by assets, reported a 40 percent increase in profit. Vietcombank reported profits of around $1 billion, the same as the previous year. Tien Phong […]
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Retail Asia04/01/2021
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Finance

Big state banks gradually lose credit market share

3min0
The credit market share of Vietnam’s three largest banks has fallen by 2.7 percentage points in the last two years due to liquidity constraints. The three, all state-owned and listed and the country’s largest by assets, Vietcombank, Vietinbank and BIDV, account for 34 percent of all loans outstanding, securities company VDSC said in a note […]
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Retail Asia09/12/2020
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Finance

Vietcombank set for lower profit as lending slows

2min0
Vietcombank’s profits are set to decline for the first time since 2013 due to slower credit growth amid the Covid-19 pandemic, a brokerage forecast. The country’s most profitable lender’s pre-tax profit could fall by 1.6 percent to VND22.75 trillion ($984 billion) this year after credit growth in the first nine months virtually halved year-on-year to […]
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