ABBANK profits reache over $39.7 million An Bình Commercial Joint Stock Bank reported pre-tax profits of VNĐ924 billion (US$39.77 million) for the first nine months of the year.

Techcombank forerunner in digital transformation in Việt Nam’s finance industry: CEO

Samsung eyes conversion into export processing firm

The Hồ Chí Minh City People’s Committee has this month submitted a proposal to the Government seeking approval for Samsung CE Complex Electronics Co. Ltd (SEHC Company) to convert into an export processing enterprise.

Keeping NPLs ratio below 3 per cent a challenge: experts The COVID-19 pandemic is weighing on the banking system’s non-performing loans (NPLs), requiring significant effort to keep NPLs ratio below three per cent by the end of this year as targeted by the Government.

Bad debts tend to rise despite slow credit expansion Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.

Techcombank achieved US$288.4 million before-tax profit in H1

Việt Nam Technological and Commercial Joint-Stock Bank (Techcombank) recorded before-tax profit of VNĐ6.7 trillion (US$288.4 million) in the first half of this year, representing 19 per cent year-on-year increase and extended to 19 consecutive quarters of year-on-year revenue growth, despite continuing challenges due to COVID-19.

PM calls for continued restructuring of credit organisations Prime Minister Nguyễn Xuân Phúc has requested the banking system work to enhance the reform of the credit organisation system in line with bad debt settlement while supporting socio-economic recovery and development amid the impact of COVID-19.

Sacombank profit reaches $61.5 million in the first half Sacombank has released its consolidated financial statements for the second quarter, with profit before tax going up by more than 10 per cent from the same period last year to VNĐ441 billion (US$19 million).

Local banks to face competition from foreign rivals

Domestic banks are expected to face increasing competition, especially as European banks will be able to access the Vietnamese market when the European Union-Việt Nam Free Trade Agreement (EVFTA) takes effect.

Banks to sell collateral assets amid fears of rising bad debts

A number of banks have announced plans to auction off their collateral assets in an attempt to speed up bad debt recovery.