Local commercial lenders posted soaring profits in the first quarter this year, as mirrored by their newly-released first-quarter financial reports, driven by escalating interest income and a jump in earnings from services.
Ho Chi Minh City-based bank HDBank would choose a life insurer partner for an exclusive bancassurance deal, believing the deal would be of great significance in the coming time.
An Binh Commercial Joint Stock Bank plans to increase its charter capital to over VND9.4 trillion (US$408.08 million) from the current VND5.7 trillion ($247.6 million) by the end of this year.
On 16 April 2021, the US Treasury Department removed Vietnam and Switzerland from their list of currency manipulators, reversing the decision taken by the Trump Administration last December.
Monetary policy should be maneuvered in a flexible and active manner to ensure sustainable growth and stability of both monetary and foreign-exchange markets, said the Party chief Nguyen Phu Trong.
Amazon Web Services, Inc. (AWS), an Amazon.com company, on April 28 announced that FE CREDIT, the largest consumer lender in Vietnam and a subsidiary of VPBank, has gone all-in on AWS, moving the vast majority of its IT infrastructure to the world’s leading cloud to respond faster to the company’s business objectives in market penetration and expansion.
The government had placed large sums of money into circulation to support the domestic economy during the ongoing Covid-19 pandemic.
From the beginning of the year, the State Bank of Vietnam (SBV) has issued new licences to four non-bank payment intermediaries, showing the increasing demand by local firms to join the fintech rush.
Strong increase in capital demand has been seen as production activities of enterprises gradually showed signs of recovery, forcing banks to reschedule their lending plans.
Visa, the world’s leader in digital payments, has released its Consumer Payment Attitudes study in Vietnam that sheds light on how behaviour has changed during the COVID-19 pandemic towards a cashless economy. Dang Tuyet Dung, Visa country manager for Vietnam and Laos shared with VIR’s Thanh Van her insight into the report and the fast-paced change in Vietnam’s digital payment landscape.