Vietnam

VietinBank-CTG signed an agreement with HDBank to jointly launch Mastercard international credit card.

ABBank estimated to reach accumulative pre-tax profit of 189 billion dong and total asset value of 34.969 trillion dong by end of April.

The State Bank of Vietnam has allowed the ING Bank N.V. of the Netherlands to open a Representative Office in Hanoi. To be called the ING Bank N.V. – Hanoi Representative  Office, it will have an operational duration of five years.

Many small-scale commercial joint stock banks in Vietnam have completed raising required authorised shareholder capital of at least VND3,000 billion. More have revealed new plans to raise the registered capital this year. Many small commercial banks have just completed raising the minimum required registered capital to VND3,000 billion and they actively prepare for new capital-raising plans which are scheduled to be done this year. Specifically, Housing Development Bank HD Bank will increase registered capital from VND3,000 billion to VND5,450 billion; TrustBank will hike its charter capital from VND3,000 billion to VND5,000 billion; and OceanBank will lift its capital from VND3,500 billion to VND5,000 billion.

Inward remittances through commercial banks in HCM City dipped by 19.6 percent against March to 367.6 million USD in April due to economic turmoil and the return of many Vietnamese workers from countries facing political instability.

Sacombank-STB and ShinhanVina Bank successfully connected with the VNBC network.

Techcombank selected Experian to provide customer credit risk, analytics and services to support its growing customer portfolio.

Standard Chartered Bank Viet Nam has offered 12 per cent interest on current accounts. E-Saver current account customers will enjoy 12 per cent annual interest rates, with no lock-in periods, no minimum balance requirements and no monthly fees. Customers can open their E-Saver current accounts online in less than three minutes.  

Eximbank is offering free service to keep gold holdings for clients as interest rates on deposits of the precious metal continue to fall.

With over 60 billion dong profit in the first quarter of this year, Namvietbank-NVB fulfilled 22 per cent of the year's plan.

Techcombank and Wells Fargo Bank signed an MoU to jointly provide banking and financial services for corporate customers of each other in Vietnam and the US.

VietABank issued short-term certificates of deposit in gold and dong for terms of 1-11 months.

Kim Jeong-tae, Hana Bank president, expressed his interest in launching operations in Vietnam and he met with senior Vietnamese financial officials.

Sacombank is pondering about changing the operation method for its branch in Laos.

VietinBank signed a deal for increased cooperation with UniCredit S.p.A., the biggest bank in Italy.

Italian banking group Intesa Sanpaolo and Vietcombank have signed a mutual agreement aimed at supporting corporate clients in developing internationalization plans in Vietnam and Italy.