Vietnam

LienVietBank, has opened a branch in Vung Tau City and is offering a credit line of VND300 billion to develop agriculture and rural areas in the province and neighboring provinces.

SaigonBank has approved the 2011 business plan in the annual general meeting with targeted pre-tax profit of 350 billion dong and dividend payment of 11 percent.

The lender’s launching of its second branch in Vietnam and its first priority banking service signifies its commitment to reach out to customers in the country.

Vietnam is the first Asia Pacific market in which HSBC has launched the Integrated Receivables Solution service consisting of VirtualAccount, consolidated collection reporting and receivables advising.

Techcombank is aiming for a 4 trillion dong profit in 2011, a year-on-year increase of 46 per cent.

TienPhongBank has approved the 2011 business plan with expected pre-tax profit of 460 billion dong, increasing by 117 percent against the previous year.

DaiABank a total profit of 80.8 billion dong, equalling to 63 percent of the whole year profit in 2010.

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%.