Prudential Vietnam Assurance has officially teamed up with local banking behemoth Techcombank to launch an online insurance premium payment service Fast i-banking. Accordingly, Prudential Vietnam’s policy holders can make their insurance policy premium via Techcombank’s Fast i-banking platform with no extra fee. With a Techcombank account, customers just need to register for internet banking service... 

Vietnam’s Technological and Commercial Joint Stock Bank (Techcombank) has come out on top in two important categories of Hong Kong-based FinanceAsia magazine’s awards: Best Bank and Best Cash Management Bank-Best Trade Finance Bank. According to FinanceAsia magazine, Techcombank is one of the fastest growing commercial banks in Vietnam. The bank has expanded its network by opening  94 new branches,... 

Hong Kong-based FinanceAsia magazine has announced its annual Country Awards for Achievement for Vietnam honoring 6 domestic and foreign financial institutions for their achievements in 2010. They include Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Saigon Securities (SSI), VietCapital Securities (VCS), HSBC and Citi. Techcombank tops the two important categories of FinanceAsia... 

HSBC Vietnam on Tuesday officially announced its new CEO Sumit Dutta replacing Thomas Tobin, who ended his term after four years here. Sumit has worked in Vietnam since August 2008, assuming the post of executive director for Techcombank, which is HSBC’s strategic partner in Vietnam. Joining HSBC in 1994, the new CEO of HSBC Vietnam has extensive experience in both personal financial services and... 

The rising risks in Vietnam’s banking system amid economic instability is offering opportunities to global credit information groups like Eperian in the country, says Dennis Martin, managing director of Experian in Southeast Asia. It’s said that Vietnam’s current tight monetary policies have raised more risks for local banks, especially the small banks. In your opinion, what are the most concerning... 

Despite the great efforts by service providers, the payment via mobile phones (Mobile Payment) is still far from becoming popular in Vietnam, because Vietnamese people still prefer using cash in payment. Bankers, telcoms launching services massively In Vietnam, the concept of making payment via mobile phones was first heard when Asia Commercial Bank (ACB) allowed clients to use mobile phones to query... 

The international credit rating agency Moody’s on its weekly credit outlook issued on Monday said that the limit on credit growth would benefit banks of Vietnam although it can push up the ratio of non-performing loans (NPLs). The central bank of Vietnam has asked all banks to limit the credit growth at 20% this year. The regulation is credit positive for Vietnamese banks because a slower pace of... 

Thomas Tobin, CEO of HSBC Vietnam since May 2007, has just ended his term of office with Sumit Dutta expected to replace him. Tobin on Saturday became the first foreign banker to receive the certificate of merit from the State Bank of Vietnam in recognition of his accomplishments and contributions to the banking industry in Vietnam from 2009 to 2010. He has played a major role in the Banking Working... 

Local banks are scaling up personal loan lending rates to cover escalating operational costs. According to a source from a Hanoi big commercial joint stock bank, from May 16 the bank started to work with personal customers on lending rate hike. “With current high deposit rates of 14 per cent per year, we inevitably have to scale up lending rates to cover escalating operational costs,” said the... 

Local commercial joint stock banks are backing away from courting strategic foreign partners this year. Western Bank general manager Dang Duc Toan said it would be hard for his bank to sell its stake to foreign strategic partners this year as foreign banking institutions were also coping with post-financial crisis difficulties. “This time is not right for us to find foreign strategic partners, thus...