Vietnam

Asia Commercial Joint Stock Bank or ACB reported gaining a total pre-tax profit of 900 billion dong in the first quarter.

Hong Leong Bank yesterday opened the Ha Noi branch and introduced the priority banking service in this branch. It is the second branch in Vietnam for the Malaysia-based bank.

Southern Bank is targetting a pretax profit of $28.7 million this year, up 12.68% from a year earlier.

HSBC Bank Vietnam new Integrated Receivables Solution to their customers, making them the first in Asia Pacific to be so offered.

Standard Chartered Bank Vietnam reported total revenues of  $40.5 million and pretax profit of $4.2 million for 2010.

VPBank approved a resolution to raise its chartered capital by VND1.05 trillion to VND5.05 trillion in 2011 financed from capital surplus and dividend fund.

ANZ Bank Vietnam has been allowed to launch factoring services, according to State Bank of Vietnam governor, Nguyen Van Giau.

The 14th Banking Viet Nam Conference and Exhibition will discuss measures to maximise information technology, diversify banking products and develop non-cash payment outlets.

Sacombank has deployed FIS' IST/Switch payment processing solution, enabling the bank to expand its ATM network by more than 15%.

BPC Banking Technologies completed the first phase of a project to implement its SmartVista e-payment solution in ABBANK.

BIDV and Smartlink Card Services will provide online payment services for Vietnam Airline tickets to customers using ATM post-paid cards.

SCB is targeting an after-tax profit of US$23.39 million in 2011, up 75.5% from US$13.3 million last year. This was recently approved by its general shareholders.

Maritime Bank will prioritize lending to corporate clients, especially SMEs.

Mega Bank’s Ho Chi Minh branch has been allowed by the State Bank of Vietnam to raise its charter capital to $90million from $15million.

The State Bank of Vietnam appointed Lien Viet Bank to serve a loan of over $900million funded by the Asian Development Bank.

 A 10-year US$ 150 million subordinated Tier 2 syndicated facility agreement was arranged for Sacombank by FMO.   IT was signed by a group of participating development banks in Vietnam. It is the first subordinated loan to a commercial bank in the country's history. To mark this special occasion, a signing ceremony was held at the Reunification Palace in Ho Chi Min City. The transaction helps boost development of Vietnam's capital market and its SME sector. As the first-ever subordinated loan to a commercial bank in Vietnam, with long-term tenor and a syndication of development finance institutions only, this is truly a landmark transaction. The facility strengthens Sacombank's capital position, further increasing its ability to meet loan demand from Vietnamese SMEs and retail customers, and extending its reach even further. The Netherlands Development Finance Company or FMO Chief Investment Officer Jurgen Rigterink said: "FMO is proud to have arranged this first-of-its-kind loan in the history of Vietnam. This long-term commitment is a boost for the SME sector and a clear vote of confidence for the Vietnamese financial sector in general." “FMO, as the lead participant, assisted Sacombank in structuring a subordinated loan facility to enhance the Tier-2 capital of the bank. Sacombank is committed to the effective execution of this capital. This is a genuine landmark transaction in Vietnam, and especially for Sacombank,” said Sacombank CEO Tran Xuan Huy.