Vietnam

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.

Cathay United Bank's Chu Lai branch may hike its chartered capital after The State Bank of Vietnam governor Nguyen Van Giau approved the application.

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.