Despite the central bank’s tightened monetary policy, many banks reported good business performance last year thanks to improved bad debt resolution and rising income from services.
Commercial Bank for Foreign Trade of Vietnam (Vietcombank) is planning to sell more than 350 million shares, or a 10 per cent stake, to foreign investors in the first half of 2018.
Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) reported a pre-tax profit of more than VNĐ11 trillion (US$482.5 million) in 2017.
Following the Government’s instruction to support domestic production and businesses, the Bank for Foreign Trade of Việt Nam (Vietcombank) on January 10 announced a cut in lending interest rates for enterprises operating in prioritised sectors.
The Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) on October 20 appointed Thomas William Tobin as Retail Banking Director, the bank’s first foreign senior executive.
The State Bank of Việt Nam (SBV) has approved the extension of credit growth limits for many commercial banks to support the country’s economic growth.
The Bank for Foreign Trade of Việt Nam (Vietcombank) on Wednesday committed to setting aside a preferential credit package worth VNĐ30 trillion (US$1.3 billion) for the health sector.
The Vietnamese economy is expected to be steady with inflation remaining under control. In addition, the Government will continue to implement measures to improve the business and investment environment and support businesses.
Several commercial banks have in the early days of 2017 posted positive business performance for 2016, with profits much higher than the previous year.
Vietcombank will be the first bank to cut its lending interest rate in response to the Government’s recent resolution.