Sacombank merges with Southern Bank
(Oct 01, 2015)
Sacombank today merged with Phuong Nam Bank, or Southern Bank.
Huynh Anh Nhan of HCM City's Tan Binh District has decided to convert the US$40,000 he had in a bank into dong because of the very low interest rate on dollar deposits.
The central bank has given Standard Chartered Bank Viet Nam the nod for a capital increase.
Chairman of the Bank for Investment and Development of Viet Nam (BIDV)
Tran Bac Ha has committed to provide loans of US$2 billion to support
garment and textile firms over the next five years.
HDBank has won UK-based financial magazine Euromoney's prestigious award
for the "best managed company" in Viet Nam following a vote by 500
analysts at leading banks around the world.
The maximum interest rate for American dollar deposits will be reduced
as of today, in a move to minimise the speculation in the domestic
BIDV official Quach Hung Hiep has been voted chairman of the Viet
Nam Bond Market Association.
Small- and medium-sized enterprises still face
difficulties in trying to access loans and do not have too many options
with regard to channels for mobilisation of capital.
The State Bank of Viet Nam has released a draft circular regulating
consumer credit activities of financial companies to better manage
lending as well as benefit domestic consumers.
Credit rating agency Moody's has changed the outlook on Vietnam
International Bank's long-term deposit and issuer ratings to
positive from stable.
The central bank should consider more interest rate cuts to help enterprises enhance their business efficiency, VCCI Chairman Vu Tien Loc said.