Vietnam

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.

TrustBank's business targets in 2011 include hiking its chartered capital to 5 trillion dong, up 66.7 percent over 2010.

HSBC in Vietnam earned a pre-tax profit of $67.9 million in 2010, a year-on-year increase of 38 per cent against the figure previous year.

ACB adjusted the dong demand saving rate for its online savings with a highest level of up to 9.6 per cent per year.

The State Bank of Vietnam approved the applications for additional capital increase of nearly $470 million by Sumitomo Mitsui Bank's HCM City and Hanoi branches.

The bank to tap Vietnam’s high growth potential in terms of financial services as 15% of its population has bank account.

Maritime Bank approved targets to reach total assets of US$7.18 billion and outstanding loans of US$2.76 billion in 2011. These figures are up 30 per cent and 81.27 per cent year-on-year. It also seeks to curb its bad debt ratio below 2 per cent.

VietA Bank finalised the charter capital increase to US$148.4 million. With total assets reaching US$1.15 billion, the bank also saw its total deposits reach US$964 million, a 190 per cent year-on-year growth.

HDBank will issue US$258.7 million worth of Certificates of Deposits for both the dong and dollar. This will be applicable from March 24 to May 23, 2011.

VDB cut its target of disbursing loans to investment projects by US$143.9 million, or 10.5 per cent, to US$1.19 billion in 2011.

Norfund will provide a $5 million to Sacombank-SBL for 5 years.