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A programme to link banks and businesses helps add another channel for businesses to access preferential credit. — Photo nld.com.vn Four commercial banks signed agreements to provide loans worth a total of VND4.66 trillion (US$200 million) to 20 companies operating in HCM City-based industrial parks and export processing zones at a meeting connecting banks and businesses held here last week. The agreement is designed to help companies access credit in a timely manner in the context of increasing capital demand. Hua Quoc Hung, head of the HCM City Export Processing and Industrial Zones Authority (Hepza), said demand for funds among businesses was very high in this recovery period after the COVID-19 pandemic. "Companies have high demand for preferential credit to restore and expand production, but access to these sources of capital is still limited,” he said. According to the State Bank of Vietnam’s HCM City branch, this year, 13 banks in the city have registered to … [Read more...] about ​​​​​​​Banks provide preferential loans to enterprises

Four commercial banks signed agreements to provide loans worth a total of 4.66 trillion VND (200 million USD) to 20 companies operating in Ho Chi Minh City-based industrial parks and export processing zones at a meeting connecting banks and businesses held last week. Illustrative photo The agreement is designed to help companies access credit in a timely manner in the context of increasing capital demand. Hua Quoc Hung, head of the HCM City Export Processing and Industrial Zones Authority (Hepza), said demand for funds among businesses was very high in this recovery period after the COVID-19 pandemic. "Companies have high demand for preferential credit to restore and expand production, but access to these sources of capital is still limited,” he said. According to the State Bank of Vietnam’s HCM City Branch, this year, 13 banks in the city have registered to participate in the loan programme and plan to provide credit of 424 trillion VND (18.2 billion … [Read more...] about Banks provide preferential loans to enterprises

From the beginning of the trading session, financial stocks, such as banks and securities, gained positively, keeping the VN-Index from falling sharply even though many sectors were flooded in the red. Banking stocks that climbed the most on the floor at approximately 3 percent were VIB, BID, TCB, CTG, and MBB. Securities stocks, like VCI, HCM, and VND, also remained in an upward trend. Besides, penny-chip stocks, like HAG, AMD, ITA, and HNG, and steel stocks, including HPG, HSG, and NKG, also went up because of vibrant trading. In contrast, energy and seafood stocks dropped sharply. Specifically, VHC declined by 4.2 percent, ACL retreated by 5.1 percent, NT2 sank by 5.6 percent, VSH slumped by 4.9 percent, and REE slid by 3.5 percent. As a result, the market still dropped slightly. Closing the morning session, the VN-Index deleted 4.5 points, or 0.38 percent, to 1,191.03 points. On the Hanoi Stock Exchange, the HNX-Index also went down by 2.04 points, or 0.73 percent, to 279.15 … [Read more...] about VN-Index loses nearly 15 points on selling pressure

Illustrative image (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,144 VND/USD on July 5, up 23 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,838 VND/USD and the floor rate 22,450 VND/USD. The opening-hour rates at some commercial banks also went up. At 8:30 am, Vietcombank listed the buying rate at 23,180 VND/USD and the selling rate at 23,490 VND/USD, both up 50 VND from July 4. BIDV also raised both rates by 30 VND to 23,190 VND/USD (buying) and 23,470 VND/USD (selling)./. VNA … [Read more...] about Reference exchange rate up 23 VND

Illustrative image (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,171 VND/USD on July 6, up 27 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,865 VND/USD and the floor rate 22,477 VND/USD. The opening-hour rates at some commercial banks continued with the upward trend. At 8:30 am, Vietcombank listed the buying rate at 23,195 VND/USD and the selling rate at 23,505 VND/USD , both up 15 VND from July 5. BIDV also raised both rates by 30 VND to 23,220 VND/USD (buying) and 23,500 VND/USD (selling)./. VNA … [Read more...] about Reference exchange rate up 27 VND on July 6

Transactions at Standard Chartered Bank in Ha Noi. — Photo courtesy of the bank Standard Chartered Vietnam has been named the "Best Service Provider - Cash Management" for the second consecutive year and "Best Payments and Collections Solutions for Dragon Capital Vietfund Management (DCVFM)" in 2022 in the Asset Triple A Awards. These awards demonstrate Standard Chartered Bank's continuous efforts in introducing innovative solutions to enable effective cash management for our corporate clients and support their digitalisation journey by applying new and emerging technology. Best Payments and Collections Solution for Dragon Capital Vietfund Management (DCVFM) is a bundled solution including inward instant payments, a dynamic virtual account for collections and an API banking solution enabling the client to improve their operational efficiency and enhance productivity thanks to automated reconciliation. "We always have a purpose to understand our client's business processes and … [Read more...] about Standard Chartered Vietnam named Best Service Provider