http://www.intellasia.net/news/english/ Asia's best news source Wed, 08 Feb 2012 13:49:13 +0800 en-us http://www.intellasia.net/news/articles/finance/111355833.shtml Finance Soaring bad debts together with liquidity problems and economic restructuring particularly banking reorganisation have pushed commercial banks to face a great deal of difficulties in 2012. Wed, 08 Feb 2012 13:47:16 +0800 http://www.intellasia.net/news/articles/finance/111355833.shtml http://www.intellasia.net/news/articles/finance/111355834.shtml Finance Deputy general director of Lienvietpostbank urged further relaxing of interest rates for property sector so as to ease businesses' difficulties, which means saving banks themselves. Wed, 08 Feb 2012 13:47:16 +0800 http://www.intellasia.net/news/articles/finance/111355834.shtml http://www.intellasia.net/news/articles/finance/111355818.shtml Finance Military Commercial Joint Stock Bank (MBB) has lately reported its business performance in the fourth quarter of 2011 with net interest income of over 1.64 trillion dong Wed, 08 Feb 2012 11:20:41 +0800 http://www.intellasia.net/news/articles/finance/111355818.shtml http://www.intellasia.net/news/articles/finance/111355819.shtml Finance Postal Insurance Joint Stock Co (PTI) has lately been approved to be listed in the VNR 500 list, the list of top 500 largest private enterprises in Vietnam. This is the only insurance firm to be included in that list. Wed, 08 Feb 2012 11:20:41 +0800 http://www.intellasia.net/news/articles/finance/111355819.shtml http://www.intellasia.net/news/articles/finance/111355817.shtml Finance During the meeting with enterprises about Vietnam's economic prospects in 2012 that took place in Canadian Chamber of Commerce in Vietnam (Cancham) on February 7, specialists of some credit institutions said that Vietnam's inflation this year will ease significantly and the forex rate will be more stable. Wed, 08 Feb 2012 11:20:35 +0800 http://www.intellasia.net/news/articles/finance/111355817.shtml http://www.intellasia.net/news/articles/finance/111355812.shtml Finance It is for the first time that the interbank average interest rate of a term has edged down to below 10 percent per annum (p.a.) since early 2011 so far. Wed, 08 Feb 2012 09:09:50 +0800 http://www.intellasia.net/news/articles/finance/111355812.shtml http://www.intellasia.net/news/articles/finance/111355707.shtml Finance Vietnam Joint Stock Commercial Bank for Industry and Trade or VietinBank (CTG) offered its -Partner G Card, PinkCard holders a special promotion programme called "My Half" from February 10, 2012 to March 30,2012. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355707.shtml http://www.intellasia.net/news/articles/finance/111355708.shtml Finance Fred Hochberg, Chair and President of the Export-Import Bank of the United States (Ex-Im Bank), is leading a business-development mission in Vietnam from February 5-8. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355708.shtml http://www.intellasia.net/news/articles/finance/111355709.shtml Finance Despite 2012 is predicted to be a very tough year, a lot of commercial banks still are setting a high profit plan based on their optimistic vision on the market. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355709.shtml http://www.intellasia.net/news/articles/finance/111355710.shtml Finance The US Ex-Im Bank will offer preferential credit supporttargeting Vietnamese small- and medium-sized enterprises (SMEs) this year, its chair Fred Hochberg told a press briefing Monday. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355710.shtml http://www.intellasia.net/news/articles/finance/111355711.shtml Finance Vietnam's central bank set the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged since December 26, 2011. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355711.shtml http://www.intellasia.net/news/articles/finance/111355712.shtml Finance First branch of Agribank late last week officially handed over its affiliate to another branch, which started the bank's system and network restructuring plan. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355712.shtml http://www.intellasia.net/news/articles/finance/111355713.shtml Finance Data from some banks' financial report in the fourth quarter (Q4) of 2011 has revealed the huge income of employees working in the banking sector. The income at Vietcombank, particularly, averaged at 22.4 million dong per month, leading in the industry last year. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355713.shtml http://www.intellasia.net/news/articles/finance/111355714.shtml Finance The State Bank of Vietnam (SBV) may announce credit growth limits for each credit institution in March, the local online newspaper Saigon Dau Tu reported, citing its private sources at commercial banks. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355714.shtml http://www.intellasia.net/news/articles/finance/111355715.shtml Finance Despite the general impacts of monetary tightening policies in 2011, business activities of banks continued growing. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355715.shtml http://www.intellasia.net/news/articles/finance/111355716.shtml Finance Vietnam's bond market could see a big shake up this year thanks to the maturing of a huge volume of paper and a regulator-driven project to restructure the market. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355716.shtml http://www.intellasia.net/news/articles/finance/111355717.shtml Finance The State Bank of Vietnam has targeted lower interest rates, a stabler foreign exchange rate and lower inflation this year, as well as stronger controls over the gold market. State Bank of Vietnam Governor Nguyen Van Binh spoke to Vietnam News Agency about the issues. State Bank Governor Nguyen Van Binh. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355717.shtml http://www.intellasia.net/news/articles/finance/111355718.shtml Finance The post-Tet period has seen deposits at commercial banks picking up. Yet, tightened credit policies have made lending institutions cautious in loaning. So where has money gone? Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355718.shtml http://www.intellasia.net/news/articles/finance/111355719.shtml Finance Dai-ichi Life Insurance Company of Vietnam (Dai-ichi Vietnam) has announced a strategic partnership agreement with Sacombank to sell its life insurance products through the local bank's network. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355719.shtml http://www.intellasia.net/news/articles/finance/111355720.shtml Finance Dr Tran Dinh Thien, Head of Vietnam Economic Institute said that enterprises will be able to survive in the difficult year 2012 only when inflation falls to below 5-7 percent, Vietnam Economic Forum reported. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355720.shtml http://www.intellasia.net/news/articles/finance/111355721.shtml Finance The World Bank approved the Vietnam Climate Change Development Policy Operation on Thursday, the first of three such operations to support priority actions aimed at strengthening policies, strategies and institutions in order to respond to climate change. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355721.shtml http://www.intellasia.net/news/articles/finance/111355722.shtml Finance The State Bank of Vietnam has fined three more businesses for listing their prices in US currency. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355722.shtml http://www.intellasia.net/news/articles/finance/111355723.shtml Finance Vietnam gold prices rose by VND0.27million/tael from yesterday close to VND44.92 million a tael on Tuesday morning despite the world gold prices fell in New York last night and steady in Asia this morning. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355723.shtml http://www.intellasia.net/news/articles/finance/111355724.shtml Finance Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank or CTG) organised a ceremony to open a branch in the Lao People's Democratic Republic, which is the bank's first branch in Asean region. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355724.shtml http://www.intellasia.net/news/articles/finance/111355725.shtml Finance The State Bank of Vietnam (SBV) pumped a large amount of money through open market operations (OMO) to support liquidity for local banks before the Tet holiday, yet money injection did not affect the country's inflation, the local online newspaper DVT.vn quoted Nguyen Thi Hong, Head of the Monetary Policy Department as saying in a monthly government briefing Saturday (February 4). Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355725.shtml http://www.intellasia.net/news/articles/finance/111355726.shtml Finance The State Treasury of Vietnam will open a price-competitive auction for VND4 trillion worth of government bonds, distributed equally for 3-year and 5-year tenors at the Hanoi Stock Exchange (HNX) on February 9, the bourse said. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355726.shtml http://www.intellasia.net/news/articles/finance/111355727.shtml Finance Moody's, a rating firm, has highlighted five risks for Asia Pacific banks and said that the banking systems of Australia, New Zealand, South Korea and Vietnam are the most easily affected by economic and financial shocks resulting from European debt crisis in 2012. Wed, 08 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355727.shtml http://www.intellasia.net/news/articles/finance/111355698.shtml Finance PetroVietnam Finance Joint Stock Corp (PVFC-coded PVF) and Cathay United Bank (CUB) on Monday February 6 signed a credit contract worth $7.2 million in Hanoi to finance for Vietnam Airlines-VNA, the national flag carrier. Tue, 07 Feb 2012 11:28:28 +0800 http://www.intellasia.net/news/articles/finance/111355698.shtml http://www.intellasia.net/news/articles/finance/111355697.shtml Finance In two weeks prior to Lunar New Year (Tet) holiday between January 9 and 20, 2012, the State Bank of Vietnam (SBV) made a net injection of nearly 85.3 trillion dong on open market operations (OMO) Tue, 07 Feb 2012 11:28:26 +0800 http://www.intellasia.net/news/articles/finance/111355697.shtml http://www.intellasia.net/news/articles/finance/111355696.shtml Finance Lucky draw, valuable gifts and the like are among promotion programmes launched by commercial banks in the early year with a view to keep customers. Tue, 07 Feb 2012 11:28:25 +0800 http://www.intellasia.net/news/articles/finance/111355696.shtml http://www.intellasia.net/news/articles/finance/111355695.shtml Finance Between five and eight commercial banks are expected to merge in the first months of 2012. Tue, 07 Feb 2012 11:28:23 +0800 http://www.intellasia.net/news/articles/finance/111355695.shtml http://www.intellasia.net/news/articles/finance/111355693.shtml Finance Consumer price inflation moderated in Indonesia, the Republic of Korea, and Thailand on a year-on-year (y-o-y) basis, while accelerating on a month-on-month level. Tue, 07 Feb 2012 10:14:47 +0800 http://www.intellasia.net/news/articles/finance/111355693.shtml http://www.intellasia.net/news/articles/finance/111355569.shtml Finance Vietnamese bonds advanced, pushing benchmark five-year yields to the lowest since October, on speculation demand will improve as debt redemptions boost cash in the financial system. The dong strengthened. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355569.shtml http://www.intellasia.net/news/articles/finance/111355570.shtml Finance Fred P. Hochberg, chair and president of Export-Import Bank of the United States, will meet with government leaders in both Ho Chi Minh and Hanoi to boost commercial ties and business opportunities between the United States and Vietnam. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355570.shtml http://www.intellasia.net/news/articles/finance/111355571.shtml Finance Industry insiders are expecting a more stable dong-dollar exchange rate and stricter dollar lending in 2012. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355571.shtml http://www.intellasia.net/news/articles/finance/111355572.shtml Finance The State Bank of Vietnam (SBV) targeted lower interest rates, more stable exchange rates, lower inflation and stronger control over the local gold market this year, Governor of the SBV, Nguyen Van Binh, told the Vietnam News Agency. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355572.shtml http://www.intellasia.net/news/articles/finance/111355573.shtml Finance HSBC Bank (Vietnam) Ltd (HSBC Vietnam) is making banking even more convenient with the introduction of its new Mobile Banking service. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355573.shtml http://www.intellasia.net/news/articles/finance/111355574.shtml Finance The State Bank of Vietnam (SBV) is ready to submit to the government a scheme on mobilising gold from citizens, said Governor Nguyen Van Binh in an interview with the Vietnam News Agency. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355574.shtml http://www.intellasia.net/news/articles/finance/111355575.shtml Finance The State Bank of Vietnam (SBV) net withdrew VND56.843 trillion from commercial banks through open market operations (OMO) from January 30 to February 3, compared to the net injection of VND32.416 trillion in the week ending January 20, the local newswire NDHMoney.vn reported, citing Reuters' data. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355575.shtml http://www.intellasia.net/news/articles/finance/111355576.shtml Finance Vietnam's central bank set the U.S dollar exchange rate at VND20.828 on Monday, unchanged since December 26, 2011. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355576.shtml http://www.intellasia.net/news/articles/finance/111355577.shtml Finance Vietnam gold prices rose by VND0.47million/tael from yesterday close to VND45.12 million a tael on Monday morning. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355577.shtml http://www.intellasia.net/news/articles/finance/111355578.shtml Finance Experts have pointed out that a breakthrough policy is needed to help develop the non-cash payment in Vietnam. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355578.shtml http://www.intellasia.net/news/articles/finance/111355579.shtml Finance Vietnam's central bank on Friday cut the compulsory reserves level for banks with large agriculture lending to one-fifth the regular rate from February through July. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355579.shtml http://www.intellasia.net/news/articles/finance/111355580.shtml Finance An unnamed Vietnam bank has recently entered in an M&A consultancy contract worth $0.5 million with a securities company and another three lenders are currently in negotiation to merge into one bank, the Saigon Times reported. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355580.shtml http://www.intellasia.net/news/articles/finance/111355581.shtml Finance The Hanoi Stock Exchange (HNX) will organise an auction for VND4 trillion worth of government-backed bonds distributed equally for 3-year and 5-year tenors issued by Vietnam Development Bank (VDB) on February 8. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355581.shtml http://www.intellasia.net/news/articles/finance/111355582.shtml Finance Vietnam Ministry of Finance (MOF) planned to sell as many as VND220 trillion worth of government bonds in the period from 2012 to 2015. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355582.shtml http://www.intellasia.net/news/articles/finance/111355583.shtml Finance Deposits are coming back to the banking system and local credit institutions currently have ample liquidity. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355583.shtml http://www.intellasia.net/news/articles/finance/111355584.shtml Finance The State Bank of Vietnam granted permission on February 2 to five credit institutions to maintain compulsory reserves for dong deposits at below regulated levels for a five-month period beginning February 1. Tue, 07 Feb 2012 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111355584.shtml http://www.intellasia.net/news/articles/finance/111355556.shtml Finance Australia and New Zealand Banking Group Limited (ANZ) has recently forecast that the State Bank of Vietnam (SBV) will retain all key rates in February 2012 to ensure good inflation control after Lunar New Year. Mon, 06 Feb 2012 11:25:52 +0800 http://www.intellasia.net/news/articles/finance/111355556.shtml http://www.intellasia.net/news/articles/finance/111355555.shtml Finance The post-Tet period has seen deposits at commercial banks picking up. Yet, tightened credit policies have made lending institutions cautious in loaning. So where has money gone? Mon, 06 Feb 2012 11:25:50 +0800 http://www.intellasia.net/news/articles/finance/111355555.shtml