Banks are continuing to sit on a pile cash with few firms ready to talk business. The State Bank yesterday, March 21, 2013 revealed that by the end of February 2013, mobilised capital increased by 2 per cent compared to the end of 2012, double the growth of 2012’s first two months, with VND mobilisation growth higher than foreign currencies. However, credit growth continued to be negative in 2013’s... 

The State Bank might consider dividing banking system credit groups this year, but the growth cap might be unnecessary given soft credit growth. A State Bank source said the central bank this year might continue to assign credit growth to each bank. In 2012, banking system had four credit growth groups with growth limits of 17, 10, 8 and 0 per cent. This year there might be more groups and foreign... 

After successfully raising liquidity, and despite low interest rates, many Vietnamese banks have been finding it difficult to find new customers for loans. Many Vietnamese banks have been finding it difficult to find new customers for loans According to the State Bank of Vietnam’s HCM City branch, the percentage of outstanding loans held by banks in the city increased by only 0.22pct; meanwhile,... 

PetroVietnam Finance Corporation, or PVFC, and Western Bank have asked for assistance from major shareholders and the State Bank of Vietnam for its merger deal, suggesting that as much as VND37 trillion should be given to secure liquidity of the credit institution. As the proposal will be presented at Western Bank’s annual general meeting on Saturday, PVFC has suggested Vietnam National Oil and... 

Vietnam International Bank, or VIB, on Sunday received the Corporate Social Responsibility (CSR) Award 2012 for its remarkable contributions to community and society last year. The award was launched by the Ministry of Planning and Investment in conjunction with Kinh te & Du bao magazine. The award was granted to VIB in recognition of its good business results and contributions to the State, employees... 

VietinBank shareholders  have approved the bank’s plan to raise chartered capital by selling common shares to its Japanese strategic partner. Under the agreement made in the shareholders’ extraordinary meeting last week, the Bank of Tokyo Mitsubishi (BTMU) will increase its stake in VietinBank to 19.73 per cent, representing the biggest ever merge and acquisition case in Vietnam’s financial... 

Despite obvious challenges, growth trajectory is right on course to build a more robust economy in 2013 and subsequent years, especially thanks to its solid trade growth prospects. Sumit Dutta, CEO of HSBC Vietnam, makes his case to Vietnam Investment Review. After a tough 2012, what is your outlook for Vietnam’s economy in 2013? The Year of the Dragon was indeed a difficult year for us in Vietnam,... 

Despite the collection of inside-network ATM (automated teller machine) transaction fees being applicable from last Friday, only 12 of 47 banks charge ATM card users, with 10 banks applying the maximum rate of VND1,000 for each transaction. Bui Quang Tien, head of Payment Department under the State Bank of Vietnam, told the Daily that the banks have passed their specific fee lists to the central bank.... 

Financial industry players are pondering the impact of  Vietnamese banks’ recent move to charge fees on ATM transactions. Under a State Bank recent circular, from March 1, 2013 banks will be allowed to charge ATM users for on-us transactions, or those made on machines of the same banks. Vietcombank possesses an expansive network of 1,800 ATMs. Each day, the bank needs to feed over VND1 billion... 

Sumimoto Mitsui Banking Corporation (SMBC) will continue giving supports to Vietnam Export Import Commercial Joint Stock Bank (Eximbank) in many fields, especially in risk management, said Hiroshi Minoura, a board member and deputy general director of SMBC, at the ceremony to mark the five-year strategic partnership between the two lenders. Minoura told the function in HCMC on Friday that Vietnam’s...