Korean-backed Shinhan Bank Vietnam Ltd. has officially opened four more branches and transaction offices in Vietnam’s most vibrant metropolises, including Danang city, the capital Hanoi, Haiphong city, and Binh Duong province. The inauguration ceremony of Shinhan Bank's Danang branch Among them, the Danang branch is the bank’s first in the central region, adding to its existing network of branches and transaction offices in the northern and southern areas of the country. With the opening of the Danang branch, Shinhan Bank has completed its goal of expanding its network nationwide in 2019. Shinhan Bank has its network located in most favoured locations in big cities across the country, with the entities based in Danang, Hanoi, Haiphong, and Binh Duong– Vietnam’s robust financial centres – are structured for operation as multi-function banking units. By opening these new branches, Shinhan Bank aims to attract more investment from Korea as … [Read more...] about Shinhan Bank expands footprint in Vietnam
City cooperative bank shimoga
Vietnamese banks see improved profitability
The profitability of Vietnamese banks has improved significantly, driven by growth in core income and robust macroeconomic conditions. A report from the State Bank of Viet Nam (SBV) released this week showed the return on assets (ROA) ratio of the domestic banking system surged to 0.7 per cent by the end of November last year from 0.57 per cent at the end of the previous year while the return on equity (ROE) ratio also increased by 1.42 percentage points to 9 per cent. Finance and finance leasing companies had the highest ROA ratio in the system, with 3.02 per cent. However, the rate decreased compared to the 3.57 per cent level recorded at the end of 2017. The companies also topped in ROE with 13.83 per cent. The group of policy banks ranked second with the ROA ratio of 1.02 per cent while cooperative banks had the lowest ROA at 0.42 per cent. The ROA ratios of State-owned and joint stock commercial banks were low at only 0.52 per cent and 0.76 per cent, respectively, much lower than … [Read more...] about Vietnamese banks see improved profitability
The central bank’s new strategy to sustain credit market in 4.0 era
The central bank’s Deputy Governor Nguyen Kim Anh Can you share with us the main goals of Decision 986? How will this new strategy impact the Vietnamese banking sector? The State Bank of Vietnam (SBV) has closely observed the development of the Vietnamese financial sector in the past two decades, realising the opportunities and challenges that financial institutions may encounter in the next ten years. With this in mind, Decision 986 is divided into two levels: First, the SBV will be modernised with a rational organisation model and synchronous, effective, and efficient operation mechanisms in line with the country’s socialist-oriented market mechanism. Our priority objective is to control inflation, contribute to Vietnam’s macroeconomic stability, and promote sustainable growth, while ensuring the safety and soundness of the credit institution network and performing our key role in ensuring financial stability. We will also continue our supervisory role for the … [Read more...] about The central bank’s new strategy to sustain credit market in 4.0 era
Netherlands, Ho Chi Minh city cooperate in water management and…
At the receptionSo said Tran Vinh Tuyen, Vice Chairman of the city People’s Committee during his reception for Henk Ovink, Dutch Special Envoy for International Water Affairs, on November 6th. During the reception, Mr. Tuyen appreciated the effective support of the Netherlands, especially Rotterdam city, the water management agency, and the Centre for Promotion of Imports from developing countries, to the city in climate change adaptation, water resource management and flood prevention. Expressing his thanks to the Netherlands for tackling the city’s challenges during its urban development, Mr. Tuyen said that water will be one of the conditions for the city development and a source of energy after being recycled. “The city hopes to receive water technology from the Netherlands to make a breakthrough in water management,” he added. He went on to say that he praised the visit and participation in Vietwater exhibition 2018 by Mr. Henk Ovink, adding that he hoped … [Read more...] about Netherlands, Ho Chi Minh city cooperate in water management and…
City cooperates with Osaka to build low-carbon society
HCM City has implemented many renewable-energy measures in an effort to reduce greenhouse gas emissions. — VNA/VNS PhotoViet Nam News HCM CITY — Authorities in HCM City and Osaka in Japan yesterday vowed to promote cooperation among the two localities in low-carbon city development at a meeting held in HCM City. Speaking at the Mayor’s Policy on Low Carbon City Development conference, Huỳnh Cách Mạng, vice chairman of the HCM City People’s Committee, said Osaka had many effective solutions on the environment, climate change adaptation, water management and solid waste classification at the source. Osaka has provided HCM City with environmental consultancy services and solutions such as water management techniques, classification of solid waste at the source, and response to climate change. Mạng also sent his condolences to the Japanese people, especially the people and authorities of Osaka affected by the recent typhoon … [Read more...] about City cooperates with Osaka to build low-carbon society