ANZ named Việt Nam's best trade finance bank
(May 24, 2016)
ANZ has been named the best trade finance bank in Viet Nam in The Asset, a financial magazine for Asia's decision makers.
Pressure from ensuring liquidity, meeting rising credit demands and
purchasing Government bonds has caused commercial banks to hike their
savings interest rates to attract depositors.
Although amendments to Circular 36 are needed, they should be
implemented gradually to avoid policy risks and difficulties to
commercial banks, online news portal Bizlive quoted bank officials as saying.
Viet Nam's consumer loans hit a five-year record high of US$15.12
billion last year, according to a new report from local market research
Finance markets will become more sophisticated and powerful in the near
future, and this will pose a challenge if banks do not focus on
renovating existing technology, financial experts warn.
Thailand's Siam Commercial Bank (SCB) recently celebrated the opening
of its new branch in HCM City at the Kumho Asiana Plaza Building in the
heart of HCM City's business district.
Experts believe the central bank is loosening its monetary policies to support businesses and boost economic growth.
Technology holds the key to banks' development, especially with the
country's increasing global integration, a seminar heard in HCM City
The Tien Phong Commercial Joint Stock Bank (TPBank) announced it had
stopped hackers from attacking the SWIFT system, reported VietnamPlus.
Though non-performing loans (NPLs) at commercial banks are being kept
under control at below 3 per cent, their potentially irrecoverable debts
Vietnam International Bank (VIB) is providing enterprises in the textile
and garment sector with soft loans and 20 per cent reduction in trade
financing costs from now until December 31.