Best banks for small business

The “Love sharing” and “Wings of faith” programmes sent 5 billion VND (215,000 USD) worth of gifts to children of disadvantaged families. (Photo: dantri.com.vn) Hanoi (VNA) – The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) has been honoured by the financial publication Asiamoney as the best bank for corporate social responsibility in Vietnam. Asiamoney, a leading finance-banking magazine in the Asia, lauded SHB for its coherent strategy in shouldering responsibility for the community with various social security projects. Notably, the bank’s “Love sharing” and “Wings of faith” programmes sent 5 billion VND (215,000 USD) worth of gifts to children of disadvantaged families across the nation, along with invaluable leadership skills and lessons. In recent years, the bank has prioritised credit support to coffee farmers, who have made concerted efforts to transform Vietnam into the world’s second-largest coffee … [Read more...] about SHB honoured as best bank for corporate social responsibility

VietNamNet Bridge – In order to become stronger, banks need to be bigger, or they need to increase their capital. Small banks have to become big to exist There are three ways for banks to increase capital. First of all, they can issue shares to existing shareholders, However, this proves to be not a feasible method for small banks, because their owners, who also hold stakes in other banks and invest in some other projects, have become nearly run out of capital. Navibank and Western Bank, which both have the same owner – Dang Thanh Tam – is an example. Western Bank, finally, has chosen another way to follow – merging into PetroVietnam Finance Corporation (PVFC) Merging into other legal entities seems to be the choice of the majority of banks. The best scenario is to legalize the zigzag ownership relationships among banks. The State Bank would have to turn the green light on for “parent banks” to acknowledge “their child … [Read more...] about The three ways of life for small banks