Banks Archive

Slow credit growth may hurt profits of banks

Posted September 29, 2015 By stoccato
Although banks have achieved more than half of their pre-tax profit target set for 2010, however many banks are now much worried about slow credit growth, which may affect their profits.
Chair of the Foreign Trade BPN, said that at the end of August 2015, it earned a pre-tax profit of 3 trillion dong, after setting up a prevention of risks. Its pre-tax profit target for this year was set at 4.5 trillion dong, according to Binh, the bank is likely to achieve this goal. But if compared with the pre-tax profit levels achieved last year at approximately 5 trillion dong, then its profit plans for this year was rather modest.

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CII to issue bonds to Goldman Sachs

Posted August 5, 2015 By stoccato
The HCM City Infrastructure Investment Joint Stock Company (CII) will issue convertible bonds worth US$15 million to Goldman Sachs Investment Partners, raising the total value of bonds issued for this investor to US$40 million.
Le Vu Hoang, general director of CII, said the company would seek approval from an extraordinary general meeting set for January 13, 2011 to issue US$15 million worth of convertible bonds, on top of an earlier transaction of US$25 million.

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Credit institutions have at least five years of operation before making a merger.

The proposal was included in a recent draft circular on the restructuring of credit institutions, for which the central bank is seeking opinions from relevant agencies and individuals before approval.

The proposal also requires credit institutions to submit a feasibility plan for any mergers, have a minimum chartered capital after merger equivalent to the authorized capital and meet other ratios as defined by the laws to ensure healthy operation.

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VietinBank to sell shares to Nova Scotia

Posted October 17, 2014 By stoccato

VietinBank , Vietnam’s top partly private lender by assets, aims to conclude talks to sell a 15 percent stake to Canada’s Bank of Nova Scotia in the second quarter of 2011, a state-run newspaper said on Friday.

VietinBank has been accelerating talks with the Canadian bank so that “in Q2 2011 the bank will officially become a shareholder of VietinBank”, Chairman Pham Huy Hung told the central bank-run Banking Times newspaper in an interview.

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SBV to review capital rules

Posted March 8, 2014 By stoccato

The State Bank of Viet Nam will review new strict capital adequacy requirements imposed on commercial banks by Circular No 13, following an outcry from the banking sector and a directive from the Government.

The announcement late Wednesday helped boost shares on the nation’s stock market yesterday, Sept 9.

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