Vietnam

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.

Oceanbank cut dollar and dong lending interest rates from March, 2011 to support exporters who committed to sell back dollar income to the bank.

VietinBank officially launched the state budget collection service via Internet.

DongA plans to sell a 15 per cent stake to foreign investors to raise $42.85 million. The bank didn’t name possible buyers.

Laos’Permanent Deputy Prime Minister Somsavad Lengsavath expressed hope that VietinBank will help boost economic ties and trade between laos and Vietnam.

Under the Agreement, BNP Paribas will offer cash management services to its local and multinational customers through Sacombank’s branch networks in Vietnam.

Hana Financial Group is expected to pay an additional US$79 million to U.S. buyout firm Lone Star for the r Korea Exchange Bank takeover.

Gia Dinh Bank will continue issuing short-term bills of exchange for the second time in 2011.

Cisco implemented its technologies and solutions in retail banking at SeABank.

The State Bank of Viet Nam warned leaders of Kien Long Bank and Western Bank for interest rate violations.

MoneyGram International expanded its presence in Vietnam by introducing the first money transfer platform with DongA Bank.