Sumimoto Mitsui Banking Corporation (SMBC) will continue giving supports to Vietnam Export Import Commercial Joint Stock Bank (Eximbank) in many fields, especially in risk management, said Hiroshi Minoura, a board member and deputy general director of SMBC, at the ceremony to mark the five-year strategic partnership between the two lenders. Minoura told the function in HCMC on Friday that Vietnam’s... 

Vietnam Export Import Commercial Bank (Eximbank) and Saigon Thuong Tin Commercial Bank (Sacombank) on Tuesday clinched a deal on a long-talked-about merger that would be complete in the next 3-5 years. The merger is aimed at making use of the two sides’ strengths, increasing market share, and improving competitiveness and business efficiency. The agreement is valid for five years. Eximbank is... 

The Vietnam Export-Import Bank (Eximbank) has won the Best Domestic Bank Award 2012, presented by AsiaMoney magazine, in Ho Chi Minh City on Aug 1. The event affirms the position of Eximbank in the financial markets of Vietnam and the Asian region. Over the past years, the award, based on such criteria as growth rate, new business initiatives, profit rate and the development of transaction networks,... 

Eximbank has shocked other bankers and businesses when announcing the credit program which offers to lend to businesses at the surprisingly low interest rate of 7 percent per annum. However, the super-cheap capital package has raised doubts among businesses. 7 percent or 13 percent per annum? Thanh Nien has cited the latest report by the State Bank of Vietnam, reporting that the current lending interest... 

* Silk Air flies to Hanoi Air Mekong and Eximbank have clinched a strategic partnership deal that allows the bank to hold a 11% stake in the two-year-old private airline. The deal was signed by Air Mekong’s chairman Doan Quoc Viet and Eximbank’s vice chairman and general director Truong Van Phuoc in Hanoi on Wednesday. A representative of Air Mekong said the bank’s investment was part of the... 

The smile was still on the lips of Dang Van Thanh, President of Sacombank, who was believed to fight to the death against the attempt by others to takeover Sacombank. However, he could not reverse the situation. Some members of the board of directors of Sacmbank had to leave, giving the place to two from Phuong Nam bank, a big shareholder, and two from Eximbank. The leave of old members and the arrival... 

Leaders of Vietnam Export Import Commercial Bank (Eximbank) during its 27th annual general meeting last Saturday assured shareholders they will reap the rewards for investing in Saigon Thuong Tin Commercial Bank, or Sacombank. Speaking at the meeting, Eximbank chairman Le Hung Dung said the board of directors could not tell shareholders about the incomplete investment deal but pledged to bring shareholders... 

Sacombank’s board of directors (BOD) may be dissolved to pave the way for BOD reelections if shareholders want so at a general meeting, lawyer Tran Phuong Bac at Luat Viet law firm said. This is in stark contrast to what Dang Van Thanh, chairman of Saigon Thuong Tin Commercial Bank (Sacombank), has said. Speaking to the media, Thanh implied the incumbent BOD could not be dissolved. “The BOD of... 

The Vietnam Export Import Commercial Joint-Stock Bank (Eximbank), a large shareholder of Saigon Thuong Tin Commercial Bank (Sacombank), has urged the latter to re-elect the board of directors (BOD) and supervisory board to secure benefits of investors. Eximbank holds 9.37% of Sacombank’s total chartered capital and is authorized with written documents by other shareholders owning a combined stake... 

Australia and New Zealand Banking Group (ANZ) has sold its 9.6% stake in Saigon Thuong Tin Commercial Bank (Sacombank) to Vietnam Export Import Commercial Joint-Stock Bank (Eximbank), breaking up the strategic alliance established in March 2005. Speaking in a statement on Thursday, Alex Thursby, CEO of ANZ Asia Pacific Europe and America, said: “We established our relationship with Sacombank in...