Despite pandemic implications, Vietnam continues to coax a steady increase in foreign investment inflows. Michele Wee, CEO of UK-backed Standard Chartered Vietnam, delivers a comprehensive picture about the country’s foreign direct investment, focusing on how Vietnam can retain its appeal and how Standard Chartered Vietnam could support the process.
The failure of lender Eximbank to hold its annual general meeting for a second year in a row indicates a deep schism within the board.
Money laundering is becoming rampant in Vietnam, and if not curtailed, then money laundering criminals will soon find ways to legalize this money which then will find its way into reputable banks, or invested in projects in Vietnam.
FE Credit, Vietnam's largest consumer finance company, is now worth more than a mid-sized bank, after a decade of operation.
Ho Chi Minh City, Da Nang and Van Don are currently vying to become Regional Financial Centers in Vietnam. However, there is still an ongoing debate as to where Vietnam's financial market must be located, and what all will go into the setting up of an International Financial Center in Ho Chi Minh City.
Committed to sustainably serve Vietnamese customers, Hanoi-headquartered Techcombank is building on its track record to gain a strong foothold in Vietnam’s fast-growing financial market. The bank’s ultimate goal is to become a top 10 bank in Southeast Asia, having the scale and capacity to deliver the best customer journey. Jens Lottner, the expat CEO of Techcombank, lifts the veil for Tuan Khanh on how Techcombank could achieve the goal, leveraging a raft of measures such as sustaining CASA growth, and investing into its technology, infrastructure, and people.
The “product-focused” business philosophy faces challenges, forcing banks to switch to “customer-centric” operations and build a digital ecosystem that fufils customers’ needs. Dam Nhan Duc, head of Research and Development of the Military Commercial Joint Stock Bank (MB) looks into the essence of this transformation.
VPBank recorded pre-tax profit of more than VND4 trillion (US$173.2 million) in the first quarter of the year, an increase of 38 per cent over the same period last year.
Local credit institutions are enjoying a rise in bancassurance activities with more exclusive deals coming, according to industry insiders.
The more than 5-year-old Decision No.2589/QD-NHNN from the State Bank of Vietnam (SBV) lowered annual interest rates to zero, applicable for deposits in USD of institutions and individuals.