ANZ Vietnam has become the first foreign bank to join the Vietnam Banking Association. “Given our long term commitment to Vietnam, ANZ wants to be part of the growth journey of Vietnam banking industry and contribute to the development of Vietnam Banking Association (VBA),” said Tareq Muhmood, chief executive officer of ANZ Vietnam. “Being a member of VBA, we are keen to provide you with our global expertise and knowledge such as bank advanced products and solutions as well as our perspective on new or amended regulations to make them more practical to commercial banks,” he said. By joining VBA, Muhmood added, ANZ Vietnam also looked to hear and learn more from the experience and deep knowledge of local banks. ANZ has had a presence in Vietnam for almost two decades. In 2008, ANZ became one of the first three 100 per cent foreign-owned banks to locally incorporate in Vietnam. The new license allowed ANZ to step up its expansion strategy in Vietnam and led to … [Read more...] about ANZ joins Vietnam Banking Association
Vietnam banks
Vietnam banks say ‘I do’ as government forces arranged marriages
Vietnamese bank consolidation will accelerate this year as a new rule encourages lenders with stakes in each other to merge or unwind their holdings amid a government pledge to push unions and even force bankruptcies. Renewed calls for restructuring come with teeth this time after a new rule restricting banks’ cross-ownership took effect in February. The central bank has said there will be at least six mergers this year and recently took the unprecedented step of nationalizing two unlisted banks. JSC Bank for Foreign Trade of Vietnam, the largest bank by market value, said last month it’s looking for a partner to merge with this year. The State Bank of Vietnam, the monetary authority, plans to reduce the total number of banks to as few as 15 by 2017 from 40 now. Investor confidence is rebounding as the country’s weakest lenders have been absorbed by larger banks and bad debt that was the highest in Southeast Asia just a few years ago has been partly taken over by a … [Read more...] about Vietnam banks say ‘I do’ as government forces arranged marriages
Vietnam Bank for Social Policies’ lending increases over 10% in 2015
The Hanoitimes - The Vietnam Bank for Social Policies (VBSP) said its total capital for operations in 2015 reached 147,000 billion VND and its total outstanding debt gained nearly 143,000 billion VND, up more than 10% compared to 2014. During the year, the VBSP implemented many comprehensive measures to improve credit quality. The bank saw a strong growth in preferential loans for near-poor households, credit for rural water supply and sanitation, and lending to household production and business activities in difficult areas. Photo for illustration Accordingly, nearly 2.4 million poor and near poor households, families just escaping from poverty and other welfare policy beneficiaries had access to the bank’s preferential loans. The loans from the VBSP helped over 400,000 families overcome poverty, created jobs for 180,000 labourers and supported 102,000 disadvantaged students. Besides, some 1.36 million clean water and sanitation facilities, over 5,300 storm and flood … [Read more...] about Vietnam Bank for Social Policies’ lending increases over 10% in 2015
Fintellix Assists Vietnam Banks to Buckle up Basel Compliance
Fintellix Assists Vietnam Banks to Buckle up Basel Compliance Fintellix, Net Vision Vietnam and Komtek held a seminar for bank managers to assess Basel compliance impacts on banks in preparing SBV’s Basel compliance mandate with a solid compliance foundation in Hanoi onOctober 13, 2015. At the conference, attendants discussed such issues as the overall picture of Basel compliance application worldwide and its impacts on banks; compliance issues of banks worldwide; complexity of Basel compliance; preparation roadmap for Basel compliance (organisational changes, data management and technology investment); advantages of early construction of foundation for strategy compliance and risk management. Mr Vivek Subramanyam, CEO of Fintellix confirmed that "The workshop expressed our seriousness in helping banks in Vietnam to overcome critical tests in the implementation of Basel compliance. With our success in many countries, we are committed to executing compliance standards … [Read more...] about Fintellix Assists Vietnam Banks to Buckle up Basel Compliance
Vietnam Banking Awards 2015 Announced
Vietnam Banking Awards 2015 Announced The Vietnam Banks Association (VNBA) and the International Data Group (IDG Vietnam) hosted a ceremony to announce winners of the Vietnam Outstanding Banking Product/Service Awards 2015 in Ho Chi Minh City on November 17, 2015. The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was named the 2015 Best Retail Bank; the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) was presented the 2015 Best Information Security Bank Award; the Vietnam International Bank (VIB) was presented the 2015 Most Innovative Products and Services Award for MyVIB application; the Saigon Commercial Joint Stock Company (SCB) won the 2015 Most Innovative Products and Services Award for its online tax-paying service and online export & import bailouts; and the Bank for Investment and Development of Vietnam (BIDV) was named the 2015 Best Online Bank. The Bank for Community Award 2015 was bestowed on the Maritime Commercial … [Read more...] about Vietnam Banking Awards 2015 Announced