Techcombank appoints new CEO
(Sep 26, 2016)
The Vietnam Technological and Commercial Joint-stock Bank, or
Techcombank, appointed Nguyen Le Quoc Anh, its former deputy chief
executive officer, as its new chief executive officer on September 23,
2016.
Commercial banks in the capital on Monday committed to set aside VND150
trillion (US$6.7 billion) for a credit support package.
Some major commercial banks lowered interest rates for deposits in dong with terms of less than a year, by 0.3-0.5 percentage points, on September 26.
The State Bank of Viet Nam (SBV) has directed intermediary payment
service providers to enhance safety and security in payment
intermediation.
Visa Vietnam reported on Thursday that the number of transactions using its cards grew by 38 per cent year-on-year.
Standard Chartered Viet Nam has been awarded the "Digital Banking Initiative of the Year in Viet Nam 2016" by the Asian Banking & Finance magazine.
A proposal to use State funds to settle commercial banks' bad debts, as
stated in the draft plan on economic restructuring for the 2016-2020
period, has been met with a cold shoulder.
The State Bank of Viet Nam has reminded foreign credit institutions and bank branches of its rollover loan requirements.
Prime Minister Nguyen Xuan Phuc said Việt Nam might allow foreign investors to hold a stake exceeding the current cap of 30 per cent in domestic banks.
The deadline for social housing developers who signed borrowing
contracts before March 31, 2016 to get cheap loans from the VND30
trillion stimulus package will not be extended to December 31 this year
as they wished. However, capital disbursement for low-income buyers
still continues.
The State Bank of Viet Nam this week approved in principle a plan
to merge the Saigon-Hanoi Commercial Joint Stock Bank (SHB) and
the Vinaconex-Viettel Finance JSC (VVF).