Vietnam
Shinhan Bank eyes expansion in Vietnam
Shinhan Bank eyes expansion in Vietnam
The chief of Shinhan Bank named Vietnam among its options for expansion into Southeast Asia in an effort to boost its revenue sources. "I believe that Shinhan Bank could have competitive edges in China, Japan and Vietnam, into which the bank has made inroads relatively earlier," said Suh Jin-won, president of Shinhan Bank. "If we are able to do the current credit card business well in Vietnam, we could get an explosive boost from it. ... We are considering expanding our presence in emerging countries. We are open to various options, including takeovers." Suh earlier said the bank plans to make forays into one or two countries in Asia this year as the local banking markets have almost been saturated. Indonesia and Malaysia are among potential options. Shinhan plans to increase the portion of income generated from its overseas operations to around 10 percent of its total earnings by 2015, up from the current 3 percent.
EVN, Maybank ink long-term cooperation with ABBank
Strategic shareholders Electricity of Vietnam and Maybank have committed long-term cooperation with ABBank.
Vietcombank extends online payment services to Korea Life
Vietcombank officially offered the financial services on VCB-iB@nking with Korea Life Insurance Co Ltd.
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Vietinbank signed a cooperation contract to jointly launch automatic toll collection service at non-stop toll station at Tan Son Nhat Airport, HCM City.
Vietinbank signs cooperation contract with Laos Development Bank
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ANZ opens signature priority banking branch in Hanoi
ANZ today opened a Signature Priority Banking branch in Hanoi, providing greater convenience to its affluent retail banking customers in Vietnam.
GRG Banking, experts discuss the new era of Vietnamese Banking
Experts from six different nations gathered in Saigon Opera House last 13 May.
Tin Nghia Bank ready to offer forex services
Tin Nghia Bank has been allowed by the State Bank of Vietnam to provide foreign exchange services.
HDBank, VietinBank to jointly launch Mastercard international credit card
VietinBank-CTG signed an agreement with HDBank to jointly launch Mastercard international credit card.
ABBank gains VND189B in Jan-April
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.
ING Bank to open representative office in Hanoi
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.
Vietnam banks to raise registered capital
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.
Ho Chi Minh experience drop in remittances
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.
Two more banks connect with VNBC network
Sacombank-STB and ShinhanVina Bank successfully connected with the VNBC network.
Techcombank selects Experian customer credit risk, analytics and services
Techcombank selected Experian to provide customer credit risk, analytics and services to support its growing customer portfolio.
StanChart Vietnam offers e-saver
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 launches free gold storage service
Eximbank is offering free service to keep gold holdings for clients as interest rates on deposits of the precious metal continue to fall.
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