Vietnam

Vietnam’s largest bank is about to shed non-essential operations as it moves towards becoming a completely commercial bank.

Vietnam may approve the plan to restructure Agribank this February, wherein it reverts its focus to agriculture and rural development.

Vietinbank signed a US$100 million loan for the Nhan Co Alumina mining project in the central highland province of Dak Nong.

The International Finance Corporation raised the trade finance limit in Lien Viet Post Commercial Bank from US$5 million to $20 million.

Vietnam's Ministry of Labour, Invalid and Social Affairs has announced that labourers’ average salary reached US$182.54 per month in 2011.

Vietnam's PM has issued a Decision adjusting the chartered capital and structure of the chartered capital of Mekong Delta Housing Development Bank.

VietinBank and Vinacomin have signed a credit contract worth $100 million to finance Nhan Co aluminum factory.

DaiABank announced a pretax profit of VND502 billion in 2011, up 300% on year.

A favourable business environment is urging many Vietnamese banks to invest in Cambodia this year.

LienVietPostBankc announced a pretax profit of VND1.1 trillion as of Dec 31, 2011, up 45% from last year.

DongA Bank's pretax profit increased 46.3% to VND1.255 trillion in 2011.

PG Bank reported a pretax profit of VND608 billion in 2011.

Vietnam's banks have to intensify measures in coping with a sudden surge in withdrawals at their ATMs.

Many Vietnamese banks have announced profits of trillions of dong in 2011 despite the many challenges. However, many banks say that these profit levels are not high in comparison with their equity size.

The State Bank of Vietnam, the central bank, resolutely denies the country’s banking system has fallen into a severe debt crisis.

VietinBank Financial Leasing was allowed to raise its chartered capital from VND500 billion to VND800 billion.