Vietnam

BIDV chairman Tran Bac Ha revealed that his bank is preparing for an initial public offering in the fourth quarter of this year.

Vietcombank will cooperate with VNDirect Securities Joint Stock Co for expanding the payment services via VCB-iB@nking channel. This allows customers to deposit money in the bank accounts and trade stocks in their depository accounts at VNDirect at the same time.

Singapore’s United Overseas Bank has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent, according to Reuters.

It is concerned that the profitability and capital buffers of the banks will fall.

 Banque Pour Le Commerce Exteriour Lao Public have experienced an increased net profit from 92.2 billion kip last year to 156.1 billion kip in the first six months.

Direct wage payments to employee bank accounts linked to automatic teller machine cards may be written into law, indicated the Department of Labour-Salary.

Vietnam’s accommodative monetary policy has resulted in high inflation and prohibitive borrowing costs.

Techcombank plans to raise its charted capital to VND8.79 trillion from current VND6.93 trillion through issuing 185.59 million new shares.

Vietinbank is demanding debt payment via SMS messages to help reduce its bad and late-paying debts as well as building the good habit of clearing debt on time.

TienPhongBank gained over 180 billion dong pre tax profit during the first 6 months, up 16 billion dong against its plan.

Liberty Insurance's customers can now pay their insurance premium online by registering for Vietcombank's internet banking service.

The Laos-Vietnam Joint Venture Bank will transform its CorBanking software system with a US$431 million loan from the Corporation for Financing and Promoting Technology of Vietnam . A contract to this effect was inked between FPT and LVB in the Lao capital city of Vientiane. According to LVB General Director Nguyen Kim Dieu, the US$ 4.31 million will help the bank improve the efficiency of using resources and brand name, save expenditures and supply modern products and services.

More than 97% of Standard Chartered Bank customers in Vietnam were served within less than eight minutes since the initiative was implemented in July.

Bidv Binh Duong will provide a credit program worth 7.7 trillion dong in 2011-15 period to Becamex IDC.

Techcombank has beedn assigned by the State Bank of Vietnam to serve the urban transport development project in Hai Phong City funded by World Bank.

Vietnam Eximbank is among the world’s top 25 banks with high growth rates, according to an international financial affairs publication.