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Tag: Vietcombank

Retail Asia23/10/2020
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Finance

Vietcombank profit plunges

2min0
The pretax profit of state-owned lender Vietcombank in the third quarter fell over 20 percent to VND4.9 trillion ($210.9 million) over pandemic impacts. The bank said that provision for bad debt, which rose 35 percent year-on-year to VND2.02 trillion, and lower net interest income were the main reasons for the profit slump. Although the bank […]
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Retail Asia25/10/2019
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Finance

Vietcombank first local lender to open Australia branch

3min0
Vietcombank, one of Vietnam’s leading banks, has received approval from the central bank to open a branch in Australia. The branch will open in Sydney and have a registered capital of AUD71 million ($48.08 million), according to the State Bank of Vietnam’s (SBV) approval document released Wednesday. Vietcombank must complete the opening of the branch within 24 […]
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Retail Asia18/02/2019
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Finance

Vietnam banks among 500 most valuable brands

2min0
Four Vietnamese lenders, three state-owned and one private, are among the world’s top 500 most valuable brands this year. In an annual ranking by BrandFinance, VietinBank was ranked 242, BIDV, 307, Vietcombank, 325, and VPBank, 361. Last year, VietinBank, BIDV and Vietcombank, three major Vietnamese banks, made it to this elite list, and this year […]
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Retail Asia16/01/2019
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Finance

Vietcombank’s profit skyrockets, Vietinbank’s falls

2min0
Two of Vietnam’s largest banks reported contrasting performances in 2018, with Vietcombank’s profits rising by 63.5 percent and Vietinbank’s falling by 27 percent. Vietcombank, the largest listed bank by market capitalization, said profit before tax was VND18.02 trillion ($772.73 million) last year, up 63.5 percent over 2017. Vietcombank earlier this month raised VND6.2 trillion ($265.86 […]
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Retail Asia31/10/2018
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Finance

Vietnamese banks register more than robust profit growth

4min0
Commercial banks in Vietnam have posted impressive growth, with profits doubling or even tripling over last year’s first nine months. The Bank for Foreign Trade of Vietnam (Vietcombank) has announced profit before tax (PBT) of VND 11.68 trillion ($502.16 million) in the first nine months, a 47 percent increase compared to the same period last year. […]
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Retail Asia23/10/2018
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Finance

Vietcombank files for private issue of 360 million shares

3min0
Vietnam’s State Securities Commission has received an application from Vietcombank for a private placement of shares worth over $156.5 million. The commission (SSC) said the country’s third largest bank by assets proposes to make a private issue of 360 million shares, equivalent to 10 percent of its charter capital. The lender plans to sell nearly […]
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Retail Asia26/09/2018
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Finance

Vietnam’s top banks struggle to increase capital to meet global norms

5min0
Three top Vietnamese banks have been struggling to increase their capital to meet international adequacy norms. The second Basel Accords, or Basel II, prescribe capital of 8 percent of risk-weighted assets for all financial institutions, including in Vietnam, to cover operational risks. The National Financial Supervisory Commission found that Vietnamese banks need to increase their […]
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Retail Asia23/05/2018
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Finance

Multiple Vietnamese banks report bad investments

2min0
Multiple banks in Vietnam have made bad investment decisions in recent years, according to a new report by the State Audit Office of Vietnam (SAV). Nine major financial organizations and banks were audited by the SAV in terms of management and use of state capital and property in 2016. The Joint Stock Commercial Bank for […]
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Retail Asia06/03/2018
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Finance

Vietnam commercial banks boost retail banking segment

4min0
Commercial banks have adjusted their service fees to individual customers since beginning of the year in order to focus on the retail segment. For money transfer services in the same banking system, some commercial banks, such as VIB, VietinBank and Techcombank, do not charge for individual customers when using electronic services. These banks charge VNĐ8,800 for […]
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Retail Asia07/06/2017
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Finance

Japanese banks expand investments in Vietnam

3min0
At a recent working session with the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), President and CEO of Mizuho Financial Group Yasuhiro Sato said Vietcombank is one of its most successful investments. He hoped the two sides will expand cooperation to other fields such as stocks and finance after five years of […]
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Retail Asia30/01/2017
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Finance

Vietnam’s bank CEOs receive sky-high salaries

4min0
Meanwhile, the managers at VP Bank receive twice as much as Vietcombank’s managers, about VND3.6 billion if the bank can fulfill the business plan. At ACB, the average level for key personnel is VND530 million a year. Vietnamese banks are more generous, accepting to pay billions of dong a year to their key personnel. VP […]
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