Vietnam

An HD Bank branch located at Ho Chi Minh City’s Tan Binh District was caught severely violating state regulation on deposit interest rate ceiling, the State Bank of Vietnam has said.

The Commercial Bank of Ceylon has enabled customers to transact in Chinese Yuan for import and export dealings with counterparts in the People’s Republic.

The State Bank of Vietnam governor has issued a decision approving Southern Bank's application to increase its chartered capital to over 3.212 trillion dong., reports Vietnam Daily News.

Twelve Vietnamese commercial banks which account for 85 percent market share have reached an agreement not to exceed the deposit interest rate ceiling of 14 percent per year, according to Vietnam Daily News.

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.