Central bank allows SHB-VVF tie-up
(Sep 30, 2014)
The State Bank of Vietnam (SBV) approved the merger of Saigon-Hanoi Commercial Bank (SHB) and
Viettel - Vinaconex Finance Joint Stock Company (VVF) on September 29.
The State Bank of Viet Nam has approved in principle the merger of Phuong Nam Bank and Sacombank.
The An Binh Bank has decided to grant tourism businesses loans worth
VND500 billion (US$23.8 million) at a preferential interest rate of
seven per cent annually.
The Housing Development Commercial Joint Stock Bank (HDBank) and the
Japan-based Hyakugo Bank Ltd established a Japan desk at the former
yesterday (29th) to support Japanese companies in Viet Nam.
The State Bank of Viet Nam's Governor, Nguyen Van Binh, yesterday told
the Standing Committee of the National Assembly that banks this year
would achieve 12-14 per cent credit growth.
The State Bank of Viet Nam (SBV) recently released a draft circular on
consumer lending following the setting up by commercial banks of
subsidiary finance companies for the purpose.
The Viet Nam Asset Management Company has so far bought about VND74 trillion (US$3.52 billion) in bad debts.State Bank of Viet Nam (SBV) Deputy Governor Nguyen Thi Hong made this
announcement at the Autumn Economic Forum held in the northern province
of Ninh Binh last Saturday.
Remittances by overseas Vietnamese through banks and other official channels to HCM City could reach US$5 billion this year.
ATMs of LaoVietBank are now connected with
the system of the Viet Nam National Financial Switching Joint Stock
Remittances to this city reached US$3.12 billion in the first nine months of this year.
Commercial banks need to change their perception of small and
medium-sized businesses to boost lending for businesses, said head of
the Central Institute for Economic Management (CIEM) Vo Tri Thanh.