HCMC Development Commercial Bank (HDBank) will take over another commercial bank, a source close to the deal told the Daily on Wednesday. HDBank will organize an extraordinary shareholders meeting in HCMC on October 31 to seek approval for this merger plan, said the source who asked not to be named. A leader of HDBank told the Daily that the bank will also seek shareholders’ approval to revise down... 

The prize “The best Cash Management Service of Vietnam” has been awarded to HDBank by Asiamoney Magazine at Hong Kong. “According to the survey’s result of more than 5,500 leaders of enterprises and financial institutions throughout Asia-Pacific region, HDBank was highly appreciated as meeting all these requirements including the most creative cash management solutions, the best cash... 

State-run Agribank, Vietnam’s biggest bank by assets, and HDBank have signed an agreement to launch their comprehensive cooperation relationship. Given the strategic cooperation, Agribank and the non-state lender aim to make use of all their resources and strengths to further boost business operations. The cooperation will focus on agriculture credit supply. The two lenders will provide more loans... 

Strategic partner hunting HDBank has increased its chartered capital from VND3 trillion ($144.2 million) to VND5 trillion ($240.3 million). Its chairwoman Le Thi Bang Tam said this move focused on enhancing financial competency, investing in technology and upgrading transaction offices. “This new capital will help us strengthen our financial resources to create more chances to develop.” In mid-June,... 

The State Bank of Vietnam on Monday issued a dispatch requiring Housing Development Bank (HDBank) to limit its credit growth next year at under 10% as part of a punishment for breaking the deposit rate cap. HDBank is not allowed to open any branches, transaction offices or ATM booths for 12 months starting from November 20 and to pay any commissions for deposit brokers, as stated in the dispatch signed... 

Many banks are considering easing their lending interest rates to support corporate clients given the dwindling borrowing demand, which barely increased in July. Several banks said disbursement in the recent past was very slow as enterprises could not afford high interest rates at a time business turns more difficult. Interest rate is falling Central bank governor Nguyen Van Binh has lately observed... 

Commercial banks have been told to reduce the outstanding loans to non-production sectors to 22 percent prior to June 30, and to 16 percent by the end of the year. However, small banks fear that they would fail to meet the target. The State Bank of Vietnam in early March 2011, informed that 24 commercial banks had been found as having outstanding loans to non-production sectors, accounting for 26... 

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on Thursday cut a deal with HCMC Housing Development Bank (HDBank) to assist the latter to issue international credit cards of the brand HDBank MasterCard. Pham Anh Tuan, deputy general director of VietinBank, told local media that at this time many international card institutions had restricted having new banks as members so... 

Many commercial banks expect that their income this year will come from the investment portfolios and services as the government limits the credit growth to curb inflation. However, experts expect the central bank will strictly supervise lenders’ investments in an effort to prevent the banking system from being collapsed by fluctuations in the capital market. “Banking stocks are safe investments... 

HDBank and Bao Viet Insurance Co. have jointly launched a promotion program for individual customers who borrow money to buy houses or cars from the bank. Under the program, the bank will give 10% of the premium for car insurance and home insurance offered by Bao Viet. The program will initially apply in HCMC and Hanoi only and will be introduced to other cities in the near future. The Saigon Times...