Refinance with 640 credit score

Late last year, the central bank said that the number of credit institutions would be cut from the current 34 to roughly 17 to 19. Therefore, it is possible that more M&As will be announced. According to Dau Tu (Vietnam Investment Review) newspaper, the most likely targets are banks with overlapping ownerships, small or financially weak financial institutions, and those that have seen their bad debt ratio rising over the past few years. Some banks have been asked by the State Bank of Vietnam (SBV) to raise their registered capital. However, in case they cannot raise it by issuing more shares, they will have to explore M&As. Saigonbank, for example, was allowed to raise its capital from VND3.08 trillion (US$136 million) to VND4.08 trillion, but it has failed to carry out the increase. There are currently at least four other commercial banks that have the charter capital roughly around the level of Saigonbank’s VND3 trillion. Those are Kienlongbank, Viet … [Read more...] about M&A information to be released

State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts (Photo: vietnamfinance.vn)   Hanoi (VNA) - The State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts. Under Document 563/NHNN-TTGSNH issued recently, SBV asked lenders to avoid too much focus on real estate customers and maintain credit growth in the sectors within safe limits. The institutions must keep a close watch on lending to the sectors, continuously review and assess the progress of realty projects and their developers’ financial condition, particularly as it relates to their collateral assets, and have measures in place to handle any defaults, SBV said in the document. Besides evaluating and processing lending applications with scrutiny, the institutions must also monitor borrowers to ensure that they refrain from … [Read more...] about Central bank urges property lending caution

KPMG improved remarkably on its weaker points since 2018 to take the pole position in Source Global Research’s 2019 Financial Services report A rise of eight points compared with its 2018 performance in the survey placed KPMG squarely at the top of the table and marked the biggest uptick in client opinion of individual firms in the period. Every year, Source Global Research asks senior end-users of consulting firms to rate the quality of consulting firms' work in 13 different financial services specialisms. KPMG came first in business strategy, financial management, risk management, regulatory-driven work, and robotics, as well as working with legacy technologies and managing non-digital transformations. The firm also ranked in the top three for taking advantage of artificial intelligence, data and analytics, operational improvement, and sales and marketing consulting, including customer experience. The firm also ranked in the top three for taking advantage of artificial … [Read more...] about KPMG No.1 in Source Global Research 2019 Financial Services report

Indonesia's economy is forecast to grow at a slower rate in the first quarter of this year. (Source: asia-first.com) Jakarta (VNA) - Indonesia's economy is forecast to grow at a slower rate in the first quarter of this year despite the government's efforts to boost buying power and exports. Indonesian Chief Economic Minister Darmin Nasution said on March 19 that he estimated the country's gross domestic product (GDP) in the first three months will grow lower than 5.01 percent, the pace recorded in the same period last year. Nasution explained that the country's harvest season of rice will take place in April, instead of March, reducing contributions of the farming sector to the national economy. The government has decided not to raise fuel price in the first quarter and would keep electricity prices steady by year end, in an effort to boost people’s buying power in the country where consumption accounts for over half of GDP growth. Nasution said credit … [Read more...] about Indonesia’s Q1 GDP forecast to grow lower than 5.01 pct

Sad loss: Bali United of Indonesia (in red and white) beat Thanh Hoa 3-1 in the third match of Group G of AFC Cup 2018 on March 7. (Source: AFC Photo) Hanoi (VNA) - The runners-up of V.League 1, FLC Thanh Hoa FC, lost to Bali United of Indonesia 1-3 in the third match of Group G of AFC Cup 2018 on March 7. Although playing away from home, Thanh Hoa demonstrated confidence in the game. Edward Ofere had a chance to open the score for Thanh Hoa in the second minute but he failed. In the 14th minute, the Vietnamese side enjoyed a penalty following a foul by Demerson on midfielder Ryutaro Karube. However in the 11m spot, striker and captain Pape Omar Faye couldn’t beat goalie Wawan Hendrawan of the hosts. After that, Ofere had the ball but he headed over the crossbar. Thanh Hoa’s efforts were repaid by a goal of Karube in the 29th minute. They were awarded a free kick 20 yards (nearly 19m) from the goal and Karube curled the ball into the top corner. After the … [Read more...] about Thanh Hoa lose to Bali United at AFC Cup