Sacombank has signed a contract with ERNST & YOUNG Vietnam Limited and FPT Information System Co., Ltd to help adopt the International Financial Reporting Standard 9.
Representatives from the Foreign Investment Agency (FIA), Ministry of Planning and Investment and Ernst & Young Vietnam Limited (EY Vietnam) signed a Memorandum of Understanding (MOU).
Ernst & Young Vietnam Limited (EY Vietnam) has signed a co-operation contract with Loc Troi Group to develop and install International Financial Reporting Standards (IFRS) in Loc Troi Group’s operating system.
Vietnamese banks are facing challenges of network security, customer trust and legal framework during digital transformation in banking, experts said at a conference in HCM City on Thursday.
Viet Nam should have only five major banks that
provide financial services and support domestic businesses, as well as
effectively compete with foreign banks, which are about to enter the
country. Keith Pogson, managing partner at Asia Pacific Financial
Services for Ernst & Young,...
Viet Nam is thought to have huge potential for the growth of retail
banking, and this throws up both opportunities and challenges for local
banks, experts say.
The new Saigon Commercial Bank (SCB), formed by its 2012 merger with two
other joint stock banks, Viet Nam Tin Nghia and De Nhat, is turning
things around after a difficult start.
Thailand''s Beri Juker Public Co. Ltd (BJC) signed a deal earlier this
month to buy the Viet Nam operations of Germany wholesaler Metro for
US$876 million.
Banks sold limited debts amounts to the Viet Nam Asset Management
Company (VAMC) this year, although their bad loans are increasing,
reported Dau tu (Viet Nam Investment Review) online.