Despite many difficulties last year due to the Covid-19 pandemic, Sacombank achieved all the targets it listed at its annual general meeting last year, ensured restructuring was on track and created a solid foundation to accelerate its digital transformation.
Banks will have to set aside money for potentially unrecoverable COVID-19 affected loans from this year, according to an amended circular drafted by the State Bank of Viet Nam (SBV).
Real estate sales will be another key driver of credit growth, as apartment supply and sales are likely to pick up in 2021.
Increasing the development of consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in HCM City on Wednesday.
While Covid-19 crippled many linchpins of economic development over 2020, the Cambodian financial sector posted sound growth in terms of loans and deposits.
Lender VPBank reported a 26 percent jump in pre-tax profit last year to VND13 trillion ($564.24 million).
After long delays, Vietnam will begin implementing a plan to establish an international financial centre as a core pillar of contemporary global finance, thus putting the country’s profile onto the map.
Timo – a leading non-conventional bank in Vietnam and beyond with a digital-first mindset and over 300,000 customers – has achieved a remarkable double first at The Global Economics Awards categories, becoming the Fastest Growing Digital Bank and Most Innovative Digital Bank in its ongoing digital banking transformation.
Vietnamese e-wallet provider Gpay has received an undisclosed amount in Series A funding from South Korean listed bank KB Financial Group.
E-wallet firm Gpay, a member company of G-Group Technology Corporation, announced it had completed its Series A investment with the participation of KB Fina, a joint venture between G-Group and South Korean KB Financial Group, in Hanoi on Tuesday.