Banks ask for higher credit quota to prepare for peak lending season

Despite a credit slowdown in the first half of 2020, some private commercial banks have still asked the State Bank of Việt Nam (SBV) for a credit growth expansion to prepare for a peak lending season expected at the end of the year.

Bank service revenue to grow next year

Despite a slowdown this year, bancassurance and payment fees are expected to rise and help banks’ service revenue increase in 2021.

VIB to list 924.5 million shares on main exchange The Vietnam International Joint Stock Bank (VIB) plans to move 924.5 million shares to the Hồ Chí Minh Stock Exchange from the Unlisted Public Company Market (UPCoM), according to an exchange filing.

Banks cut home loan interest rates Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July 2020 due to low capital demands from business and production.

Banks do well in first half but difficulties lie ahead for the year Nine of the 10 large-cap banks on the stock market are estimated to report positive profit growth for the second quarter of the year, according to SSI Securities Corporation (SSI)

Banks set sights on bigger targets with stock listing in HCM City

LienVietPostBank has said it will complete the transfer of its LPB shares from the unlisted Public Company Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) in the fourth quarter of this year.

VIB's journey to large retail bank Vietnam International Bank (VIB) aims to earn pre-tax profit of VNĐ4.5 trillion (over US$193 million) in 2020, up 10 per cent year-on-year. 

Banks start to release business plans for 2020 Major banks are still expecting to report growth in the first quarter and for the rest of 2020 despite the disruptions caused by the COVID-19 pandemic.

COVID-19 affected firms gain access to $695 million low interest loans

Enterprises affected by the COVID-19 pandemic could have access to a VNĐ16.2 trillion (US$695.28 million) interest free loan package for a maximum duration of 12 months to pay their employees.

Banks offer higher rates for online savings to draw clients amid COVID-19 battle

To encourage customers to deposit money online amid the COVID-19 pandemic, many banks have raised interest rates for online savings by up 1.4 per cent higher than over-the-counter deposits.