BIDV and VietinBank reduced their deposit rates on Thursday after Vietcombank had officially brought down its deposit rates on Monday, signaling lending rate cuts in the coming days. A press release from VietinBank says that the bank now quotes the interest rate for dong deposits of less than 12 months at 7% per annum, or 0.5 percentage point lower than the ceiling rate. Meanwhile, BIDV on Wednessday... 

Vietnam Commercial Bank for Industry and Trade (VietinBank) picked PwC Vietnam Co. Ltd. as the provider of core banking solutions through an agreement signed in Hanoi on Monday. According to VietinBank, core banking application is its key project but it has high risks and complications. VietinBank therefore has decided to hire the independent supervising and consulting unit for the success of the project. Ian... 

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... 

Vietnam Bank for Industry and Trade, or VietinBank, on Monday signed an agreement to borrow around US$155 million from two German banks, Dusseldorf branch of Sumitomo Mitsui Banking Corporation (SMBC) and KfW IPEX-Bank GmbH. According to a statement released by VietinBank on Monday, Euler Hermes, an export insurance company of the German government, provides insurance service of up to 85% of the... 

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... 

Vietnam Bank for Industry and Trade, or VietinBank, has continued to launch preferential loan programs for both corporate and individual customers, offering lending rates from 8.95% and 4% per annum for dong and U.S. dollar loans respectively. For enterprises, VietinBank applies the lowest rate of 8.95% per annum to a VND10 trillion credit package while small and medium-sized enterprises (SMEs)... 

Vietnam Bank for Industry and Trade, or VietinBank, on Wednesday announced that it would lower interest rates of old credit contracts to below 15% per annum from July 15 and provide new loans for enterprises at a rate of 12% per annum. Speaking at the press briefing in Hanoi on Wednesday, VietinBank chairman Pham Huy Hung said falling CPI (consumer price index) in recent months is a good condition... 

Vietnam Bank for Industry and Trade, shortly known as VietinBank, on Monday opened a branch in Berlin, which is the bank’s second unit in Germany after its first branch in Frankfurt. VietinBank’s board chairman Pham Huy Hung told the opening ceremony that the presence of the bank’s branch in Germany’s most populous city would foster and facilitate business development between Germany and... 

The Vietnam Bank for Industry and Trade (VietinBank) has become the first local financial institution to successfully issue US$250 million worth of bonds in international markets at an annual real coupon of 8.25%. “On the issuance date, May 10, we sold out the bonds to investors from Asian, European and American markets. The coupon is set at 8% per annum with the maturity due in 2017 and the real... 

Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has announced the successful mobilization of US$250 million through issuing international bonds on a five-year term, with a yield of 8 percent. This is Vietnam’s first financial institution that has issued international bonds. Vietinbank’s bonds are expected to be rated “B1” by Moody’s and “B+” by S&P. A Vietinbank...