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... 

The Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) has announced to put on a preferential lending program for exporters. Borrowers of export credit in Vietnam dong at Eximbank will pay an annual interest rate of 17%. The term of such a loan is three months. Another option is Eximbank will roll out a local currency export credit program based on interest rates for foreign currency. The... 

The local gold price still fluctuated wildly on Tuesday, rising by VND1.5 million from the previous day to VND45.6 million a tael, but the difference between the local and global prices narrowed after the central bank swiftly announced gold import quotas. However, the dollar also entered the upward price spiral as bullion traders needed the greenback to import gold. The precious metal opened up strongly... 

HSBC Vietnam is on the money. HSBC last week announced its 2011’s first half pre-tax profit in Vietnam soared 116 per cent, far exceeding the 70-90 per cent growth of a few leading Vietnamese lenders like Vietinbank and Eximbank and much higher than the average of 10.5 per cent of local banks. The profit stood at $82 million, including that of wholly foreign locally incorporated HSBC Bank Vietnam... 

Vietnam Export Import Commercial Joint Stocks Bank (Eximbank) has entered the world’s top 25 banks with high growth rates, announced The Banker, an international financial affairs publication. Eximbank is the only bank in Vietnam and the Southeast Asian region to enter this year’s top rankings and also the world’s top 1,000 banks. The Banker’s Top 1000 World Banks ranking has been conducted... 

The fact that the State Bank of Vietnam has set up the interest rate ceiling on dollar deposits at 2 percent, to be applied to individual deposits and 0.5 percent to institutional deposits; plus the measures to strictly control the foreign exchange market, have brought fat profits to some banks and big worries to others. Exchange rate down, making bankers happy After June 2, when the State Bank of... 

Several banks in HCMC are trialing the service of money transfer via automated teller machines (ATMs), and the service will be widely available at all banks between 2013 and 2015, said the central bank’s HCMC Branch. Nguyen Van Dung, deputy director the State Bank of Vietnam’s HCMC Branch, told a seminar on Tuesday that cardholders would not have to perform the money transfer service at banks’...