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Techcombank, on the other hand, capped a positive earnings for the first quarter of VND2.5 trillion ($108.7 million) despite the market volatility – a nearly 20-per-cent increase compared to last year. It was also one of a few banks recording upbeat performance in Vietnam, but still maintaining sound operational safety ratios. Techcombank’s foreign investors include Norges Bank – the central bank of Norway which also manages the Norwegian government’s pension fund. However, it is still too early to say if Norges Bank would further inject capital into Techcombank, as they “do not comment on single investments,” Line Aaltvedt, manager of Communications and External Relations at Norges Bank, told VIR. … [Read more...] about Upcoming EVFTA to fortify lenders

The revision follows the blows taken by Vietnam’s economy from the pandemic, with a decade-low growth of 3.8 percent in the first quarter, and the State Bank of Vietnam having to cut its policy rates and directing banks to extend debt relief to affected borrowers. … [Read more...] about Fitch Ratings lowers outlook on five Vietnam banks

A teller counts Vietnamese banknotes. Since the outbreak of the novel coronavirus, banks in HCMC have provided support for some 224,000 local firms and household businesses – PHOTO: VNA HCMC – Banks in HCMC have lowered their interest rates and rescheduled loans worth VND290.5 trillion (US$12.4 billion) for around 224,000 firms and household businesses reeling from the coronavirus pandemic. … [Read more...] about HCMC banks offer support for 224,000 virus-hit businesses

Guidelines to attend the online AGM of shareholders are available at https://www.sacombank.com.vn/company/Pages/Huong-dan-tham-du-Dai-hoi-dong-co-dong-thuong-nien-truc-tuyen-nam-tai-chinh-2019.aspx?fbclid=IwAR0CPZrhGgOVUCmWnRlP6iFR-HowT6RRxyJNPi5p9GwSK-iarp7WBwhlNkM. — VNS … [Read more...] about Sacombank shareholders green-light online annual general meeting

Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,261 VND per USD on May 29, down 10 VND from the previous day. With the current trading band of  +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,959 VND/USD and the floor rate 22,563 VND/USD. The opening hour rates at commercial banks all saw decreases. At 8:25 am, Vietcombank listed the buying rate at 23,180 VND/USD and the selling rate at 23,390 VND/USD, both down 20 VND from May 28. At BIDV, both rates were adjusted down 25 VND to 23,205 VND/USD (buying), and 23,385 VND/USD (selling).  Techcombank also adjusted both rates down 20 VND to 23,190 VND/USD (buying), and 23,390 VND/USD (selling). During the week from May 25 to 29, the daily reference exchange rate fluctuated variably and ended the week up 1 VND from Monday. The rates at commercial banks also fluctuated, mostly ending the week lower than at the week’s beginning./. … [Read more...] about Reference exchange rate down 10 VND on May 29