Fitch Ratings has affirmed that Vietnam-based Asia Commercial Bank (ACB) and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) both received ‘B’ ratings with a stable outlook in addition to ‘b’ Viability Ratings (VRs). The Issuer Default Ratings (IDRs) in the banks’ standalone financial profiles reflect the continuing risks of the challenging domestic operating conditions,... 

Personal credit is no longer a “big earner” for the banks only, as financial companies are rushing to cash in on this market, say industry insiders. Statistics show that Vietnam is now home to 17 financial companies, which have been established by domestic and foreign-invested groups and corporations. These financial companies provide loans enabling consumers to buy cars and houses, similar...