Bank for Foreign Trade of Vietnam, or Vietcombank, finds it hard to obtain this year’s after-tax profit target of VND5.8 trillion given many difficulties ahead. Nguyen Phuoc Thanh, general director of Vietcombank, said that the lender might fail to liquidate mortgaged assets to recover debts while it is almost impossible for many enterprises to pay debts by themselves. However, as most of its bad... 

Several Japanese investors have seen the slump in the securities market as an opportunity to buy stocks on the cheap in Vietnamese banks. Tokyo – Mitsubishi UFJ wants to buy 20 per cent of Vietinbank’s stakes in the first half of 2013 Big deals When Tokyo – Mitsubishi UFJ Bank announced plans to buy a stake in Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), a... 

Bank for Foreign Trade of Vietnam, or Vietcombank, has just announced two more preferential lending packages worth a total of up to VND16 trillion in an effort to disburse more loans so as to attain a credit growth of 10% in line with this year’s plan. The bank’s first package will have a credit line of VND15 trillion offered at an annual lending rate of 9%, targeting customers with credit rating... 

Commercial banks are striving to applying several risk control measures, essentially improving credit quality and reducing bad debt, as they confront a worsening problem with non-performing loans. The problem of non-performing loans turning into dead loans is predicted to worsen this year, when enterprises face more difficulties in carrying out their production and business operations. A senior official... 

Vietcombank, Vietnam’s fourth-largest lender by assets, plans to raise $1 billion selling bonds in international markets, its chairman said. The debt, with terms of up to 10 years, could be issued in 2012 pending shareholder approval, Nguyen Hoa Binh said in a report seen by Reuters on Thursday. The report was scheduled to be delivered to shareholders at a meeting on April 2. Hanoi-based Vietcombank,... 

Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Bank for Industry and Trade (Vietinbank) have announced to reduce the lending interest rates to 14.5% and 15.5% per year respectively for certain clients. The rate of 14.5% at Vietcombank is applied for exporters making payments through Vietcombank while Vietinbank applies the rate of 15.5% for international trade finance programs. Besides,... 

Bank for Foreign Trade of Vietnam (Vietcombank) has fetched a hefty profit of some VND8.3 trillion, or around US$400 million, for selling shares to Japan’s Mizuho Corporate Bank (MHCB) as its strategic partner. Vietnam’s second biggest bank in terms of market capitalization signed a strategic cooperation agreement with MHCB on September 30 selling 15% of its shares to the latter. The deal helps... 

Bank for Foreign Trade of Vietnam (Vietcombank) has divested capital in Shinhan Vina Bank and made a hefty profit from the deal, allowing the latter to be merged into Shinhan Vietnam Bank. The board of directors of Vietcombank last week approved to transfer its 50% stake in Shinhan Vina Bank to Shinhan Bank as its South Korean partner in the joint venture bank. Vietcombank enjoyed a lofty profit of... 

Vietcombank, the nation’s largest listed bank by market value, has completed its four-year search for a strategic foreign investor by clinching a deal to sell a 15% stake for US$567.3 million to Japan’s Mizuho Corporate Bank Ltd. The contract with Mizuho Corporate Bank Ltd., a wholesale-banking unit of Mizuho Financial Group Inc., will further boost the financial position of the Joint Stock Commercial... 

Bank for Foreign Trade of Vietnam, commonly known as Vietcombank, has just got the central bank’s green light to sell a 15% stake to Japan’s Mizuho Bank, a deal when concluded will substantially lever up the local bank’s equities. A document of approval was issued and sent by the State Bank of Vietnam to Vietcombank on Tuesday. Sources said an official agreement would be signed this Friday between...