Vietnam

WesternBank pre-tax profit increased by 148 percent year-on-year to VND161 billion or US$7.6 million.

Techcombank posted a US$200 million in 2011, an increase of over 53 per cent over 2010.

BIDV together with its consultant Morgan Stanley will actively negotiate to sell shares to foreign strategic partners with about 15 percent stake.

Faced by the impending disintegration of its banking industry, Vietnam goes for a drastic solution.

The Land Bank of Taiwan has closed its representative office in Ho Chi Minh City.

Maritime Bank will appoint a foreigner to the bank’s general director position this year.

Agribank aims to expand its operations and double its credit growth by 2015 even as it undergoes a partial privatisation.

Navibank posted a pre-tax profit of US$1.999 million for thefirst two months of 2012, up 9.1 percent against the end of 2011.

Cross straits banking stands to receive a needed shot in the arm.

A disconcerting jump in bad debts is forcing Vietnam to take measures to prop up the country’s banking industry.

Sacombank hopes to expand remittance payment services for local individual customers with its new deal with Coinstar Money Transfer.

A hostile takeover is brewing as Eximbank leads other shareholders of Sacombank in demanding a new management board.

The merged Saigon Commercial Bank earned a profit of US$3.26 billion in the first month of this year.

Navibank announced a US$1.064 pre-tax profit for January 2012.

Vietnam's Ministry of Construction is seeking approval from the State Bank of Vietnam to set up a new bank. The ministry's proposal comes at the behest of the Vietnam Real Estate Association, and would establish the Vietnam Construction Bank. Deputy Minister of Construction Nguyen Tran Nam said the proposal is appropriate to the country’s current economic circumstances and that it is in line with world trends for construction banks. The proposed bank is expected to foster the construction of large construction projects and be a source of capital form construction materials, he noted. He added that the bank would be a good thing for a slowing real estate market.

NamA Bank has been categorised in the Group 2, among banks with average operations, by the State Bank of Vietnam.