The Hanoitimes - M&A deals in Vietnam’s finance and banking sector will rise significantly this year, given by an improved business performance of local banks and a government regulation to require banks to meet stricter capital regulations as part of Basel II Accord standards by 2020. Vietnam banks advised to raise risk resilience in digital age Vietnamese banks required to go public by 2020 Capital raising considered key focus for Vietnamese banks in 2019: Moody’s Japan’s MUFG Bank to further invest in Vietnam’s VietinBank Experts anticipated the Vietnamese finance and banking sector will experience a sharp increase in merger and acquisition (M&A) deals in 2019 as positive signals for the surge have been seen right in the first months of the year. Japan’s Mitsubishi UFJ Financial Group wants to invest in VietinBank Early this year, on January 9, Bank for Foreign Trade of Vietnam (Vietcombank) started off with an … [Read more...] about M&A in Vietnam’s banking sector forecast to see big changes in 2019
Vietnam bank for agriculture and rural development
FDI attraction needs to centre on agriculture and rural restructuring
FDI in the agricultural sector (encompassing agriculture, forestry, and fisheries), and rural development is an important capital channel, helping the sector to expand its export markets and engage deeper into the global agricultural produce value chain, boosting the productivity, quality, efficiency, and competitiveness of local agricultural producers. Achievements in attracting FDI into the agricultural sector, however, are still limited, failing to fully bring into play the sector’s enormous potential. In the forthcoming time, it is important to consistently implement wide-ranging measures to attract foreign investment, transforming the economic structure of agricultural and rural areas towards modernisation, developing large-scale and concentrated commodity-based agricultural production to meet international integration requirements, particularly regarding the sub-sectors with high comparative advantages. 1. Achievements in attracting FDI in agriculture and rural development … [Read more...] about FDI attraction needs to centre on agriculture and rural restructuring
Vietnam banks in race to join Asia top 100
The Hanoitimes - Assuming Vietnam`s top three state-run banks can maintain their respective growth rate of 5 - 10% in the next eight years, their total assets would be over VND1,500 trillion (US$63.95 billion), equivalent to those currently in Asia`s top 100 banks. Under the development strategy of Vietnam's banking sector recently approved by the prime minister, the country is expected to have at least 2 - 3 commercial banks in Asia's top 100 largest banks in terms of assets by the end of 2025. Illustrative photo. Last year, 15 Vietnamese banks were named in the Asian Bankers' AB500 ranking and survey of Asia Pacific's strongest banks by balance sheet. Among Vietnamese lenders, Bank for Investment and Development of Vietnam (BIDV) took the highest spot at 157th, followed by Joint Stock Commercial Bank for Foreign Trade of Vietnam (VietinBank) at the 163rd and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietcombank) at the 188th. Those three … [Read more...] about Vietnam banks in race to join Asia top 100
Fitch upgrades ratings of three Vietnamese banks
Fitch Ratings upgraded the long-term issuer default rating (IDR) of Military Bank to ‘B+’ from ‘B’. — Photo Military Bank Fitch Ratings on Tuesday upgraded the long-term issuer default rating (IDR) of Military Commercial Joint Stock Bank (Military Bank) to ‘B+’ from ‘B’ with a stable outlook. Fitch also upgraded the bank’s viability rating to ‘b+’ from ‘b’. In a report released on Tuesday, the agency also upgraded the viability rating of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to ‘b’ from ‘b-’. The long-term IDRs of Vietnam Bank for Agriculture and Rural Development (Agribank), Vietinbank and Vietcombank have been affirmed at ‘B+’ with a positive outlook. The IDR of Asia Commercial Joint Stock Bank (ACB) has been affirmed at ‘B’ with a stable … [Read more...] about Fitch upgrades ratings of three Vietnamese banks
Agribank asked to become leading bank in region
Prime Minister Nguyen Xuan Phuc attaches the Labour Order (first class) onto the flag of Agribank (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc on March 26 asked the Vietnam Bank for Agriculture and Rural Development (Agribank) to strive to become one of the leading commercial banks in the region. He made the request while attending a ceremony in Hanoi marking the 30th founding anniversary (March 26, 1988) of Agribank, the only commercial bank whose charter capital is completely owned by the State. Agribank now owns nearly 2,300 branches and transaction offices with almost 40,000 employees. It is also the only commercial bank to be present in nine island districts nationwide. The bank is the partner of more than 30,000 businesses and millions of farmer households. It has also sent over 600 mobile banking vans to all corners of the country to bring bank credits to rural residents. Agribank reported that it spends about 400 million – 500 billion VND … [Read more...] about Agribank asked to become leading bank in region