Vietnam

Pham Huy Hung, chair of VietinBank-CTG, confirmed that his bank has the lowest bad debt ratio in Vietnam's banking system.

The governor of the State Bank of Vietnam has approved Southern Bank's application to increase its chartered capital to over 3.212 trillion dong, according to a Vietnam Daily News report.

Vietnam International Commercial Joint Stock Bank will set aside two trillion dong to lend at the preferential interest rate of from 17.5 percent per year for food producers and processors.

TrustBank is offering incentives for small and medium-sized enterprises to serve purchase and processing of products for exports, agriculture, seafood that commit to use the bank's international payment service, reports Vietnam Daily News.

Orient Commercial Joint Stock Bank has received approval from the governor of State Bank of Vietnam to raise its chartered capital to 3 trillion dong.

Saigon Commercial Joint Stock Bank is offering new interest rate benchmark in both dong and US dollar whereby the non-term deposit interest rate in dong will be 4.2 percent per annum.

Habubank finished hiking its chartered capital from 3 trillion dong to 4.05 trillion dong and officially registered the new chartered capital in Hanoi Department of Planning and Investment from September 9, 2011.

Sacombank became the country’s first banking institution to launch a wholly owned incorporation in a foreign country with its Cambodia unit.

Five lenders will sell six tonnes of gold to help narrow the gap between domestic and international prices.

The Bao Viet Group to has been allowed by the Prime Minister to continue to invest in BaoVietBank and hold 52 percent stake in the bank.

Vietnam government-owned bank headquartered in Hanoi will use Polaris Software Lab's Intellect Global Universal Banking M180 platform to centralise its operations. Polaris would provide intellect core and lending modules to the bank, enabling it to handle traditional banking products in an integrated and efficient manner. "We are happy and proud that Vietnam Bank for Social Polices chose to implement Polaris' Intellect GUB M180 amongst various other competitors in the industry. The system would offer Vietnam Bank for Social Policies the flexibility required to support the banks aggressive growth plans," Polaris Software Head-Asia Pacific Supriyo Sircar said. The Vietnam Bank for Social Polices headquartered in Hanoi is a government-owned bank operating 64 branches, 612 district transaction offices and 9,773 mobile transaction points.

Japan’s Mizuho Financial Group will acquire a 15 per cent stake in Vietcombank for $567 million in what is possibly Vietnam’s largest ever inbound acquisition.

Agribank said it faces no finacial problems even though it has a bad debt of 6.67 percent of its total loans.

Gold saving interest rates at many Vietnam banks have increased sharply from 0.1% – 0.5%/year to 1% -1.5%/year. There are some banks that have raised the interest rate of gold savings up to 2.6% per year.

VietinBank-CTG gained 87% of the year's profit plan based on its recently released report on performance for the first eight months of this year.

The State Bank of Vietnam’s governor Nguyen Van Binh approved Saigon Bank's application to scale up its chartered capital in 2011.