Social and development banks will intensify their service quality to
fulfil their missions this year, their leaders said, after they were
entrusted with government targets.
Three-year bonds were sold out, while the sales of bonds with longer
terms were unsatisfactory during an auction on the Ha Noi Stock Exchange
last week.
Viet Nam Development Bank (VDB) will give VND330 billion (US$15.7
million) for a project to increase the capacity of KCP Viet Nam
Industries Limited (KCP VIL) in central Phu Yen Province.
Speaking to a room full of representatives of financial institutions
from across the Asia and Pacific region, Deputy Prime Minister Vu Van
Ninh stressed how infrastructure development was one of Viet Nam''s three
strategic breakthroughs in socio-economic development.
Two banks and an industry association have joined hands with a
concerned government agency to boost Viet Nam''s support industries with
much-needed financial and infrastructure assistance.
The State Audit of Viet Nam (SAV) has said the State Bank of Viet Nam''s
monetary policies ensured stable exchange rates and a liquid banking
sector, in a report sent to the National Assembly this week.
The Vietnam Development Bank (VDB) on September 3 sold VND90 billion
worth of government bonds out of VND4 trillion auctioned at the Hanoi
Stock Exchange (HNX) at the yields of 8.3-9.1 per cent p.a., the bourse
has said.
Managers of the Vietnam Development Bank (VDB) can be suspended if the
lender is placed under special control, a draft charter for VDB''s
operations recently-completed by the Ministry of Finance said.
The Viet Nam Development Bank (VDB) will raise its charter capital to
VND20 trillion (US$952 million) by 2015 and VND30 trillion ($1.42
billion) by 2020 under a new development strategy approved by the Prime
Minister.