Banks urged to prepare for new financial reporting standards

Under the draft IFRS roadmap released recently by the Ministry of Finance, IFRS implementation will become compulsory for the consolidated financial statements of all State-owned enterprises, listed companies and large-scale unlisted public companies after 2025.

Vietnamese banks face challenges in digital banking transformation 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 yesterday.

Lotte Finance admitted to Vietnam Banking Association

Lotte Vietnam Finance Company Limited (Lotte Finance) has become the first Korean financial institution to become an official member of the Việt Nam Banking Association (VBA).

Vietnam Banking Report 2018: Amidst earnings announcement, concerns about capital adequacy remain

In the first half of 2018, the Vietnamese banking sector enjoyed VNĐ35.5 trillion (US$1.53billion) in net profit, equivalent to 64 per cent of the previous year.

20% ceiling interest rate question remains open The Civil Code (revised), adopted by the National Assembly on November 24, states that negotiated interest rates must be controlled under 20 per cent per year, excluding loans stipulated in other laws.