According to chairman Ngô Chí Dũng, the bank has begun preliminary talks to sell up to 49 per cent in its consumer finance arm, FE Credit. The money from the deal will be spent on its retail and SME divisions. … [Read more...] about VPBank confident of beating 2020 profit target
About deposit banks
Increase basic interest rate – a good therapy for national economy
Tai Hui, head of the Standard Chartered Bank’s Asian research department, says that there are two factors that put pressure on the devaluation of the VND. First, the increase in the price of gold makes local investors pay more attention to gold than the Vietnamese currency. Second, the trade deficit may reach more than US$2 billion a month. Although this level is lower than in the first half of 2008 (about US$2.5-3 billion), it has raised great concern about the balance of payment, especially when FDI and overseas remittances are forecast to increase slightly. … [Read more...] about Increase basic interest rate – a good therapy for national economy
Criminal proceedings launched against former chief accountant of PVTrans
According to the indictment, from 2010 to 2014, at the direction of Thắm, OceanBank paid more than VNĐ1.576 trillion (US$67.2 million at the current exchange rate) in extra interest rates, which were not stated in contracts, to customers depositing money at the bank. … [Read more...] about Criminal proceedings launched against former chief accountant of PVTrans
