Banks in VietnamThis weblog provides you with information and updates about banks and banking in Vietnam. Hope you find it useful.Vietnam has yet to embrace electronic banking- December 22, 2007 In Vietnam, bank cards are simply used to access cash via ATMs, but throughout the rest of the world they are used as cash alternatives between bank accounts and retailers, Vietnam is having difficulty adapting to electronic purchasing.Tran Thi Van in HCM Citys District 3 has her salary directly deposited into her account at East Asia Bank; but her account is always empty because of her modest VND2mil a month salary, only enough for basic needs. As her account balance is always at zero, she has.http://bankingvietnam.blogspot.com/2007/12/vietnam-has-yet-to-embrace-electronic.html Citibank Issues First Bond in Vietnamese Dong- December 22, 2007 Citibank has launched its maiden domestic offering in the Vietnamese debt market, the first long-term negotiable instrument to be issued in Vietnamese dong.The inaugural issue was a VND400 billion (US$22 million) floating rate issue with a tenor of two years, according to a Citibank press release.The certificate can be sold back to Citibank at each payment date after a certain holding period.Citibank is proud to issue its maiden Vietnamese dong bond. The issue, launched on Sept. 5, adds...http://bankingvietnam.blogspot.com/2007/12/citibank-issues-first-bond-in.html VCB Stock Auction Reheats Stock Market- December 22, 2007 News of the Vietcombank (VCB) stock auction heated up the Ho Chi Minh City Stock Exchange this morning. With 124 stocks gaining and only five losing, the VN-Index was pushed up 27.18 points to close at 946.78.The second consecutive day of Index increases eased investors anxieties. Buy orders for VCB shares surged from only 45 million shares to 110 million over yesterday, the last day for placing orders.The record volume of VCB shares offered is forecast to be quickly sold out.It is also...http://bankingvietnam.blogspot.com/2007/12/vcb-stock-auction-reheats-stock-market.html Vietnam fund to sell VND516 bil. bond- December 15, 2007 A Vietnam investment fund will raise a combined VND516 billion (US$32 million) in five-year, 10-year and 15-year bonds this week to fund urban projects, the Hanoi Securities Trading Center (HASTC) said Monday. The Ho Chi Minh City Investment Fund for Urban Development would auction today a VND260 billion bond issue which will mature on December 13, 2012 and VND206 billion bond issue with maturity on December 13, 2017, HASTC said in a statement. The fund would also seek to sell VND50...http://bankingvietnam.blogspot.com/2007/12/vietnam-fund-to-sell-vnd516-bil-bond.html Banks say loan regulation unfeasible- December 15, 2007 Local lenders have said they would not be able to comply with a new regulation requiring them to cut back their securities-backed loans before the end-of-year deadline. In a July directive, the State Bank of Vietnam (SBV) ordered that commercial banks would have to reduce their securities-backed lending ratio to three percent of their total outstanding loans before 2008. The banks are aware of the directive, which aims to stabilize the market. However, it will be.http://bankingvietnam.blogspot.com/2007/12/banks-say-loan-regulation-unfeasible.html Vietnam bank to sell VND600 bln in bonds on Dec. 12- December 15, 2007 State-run Vietnam Development Bank would sell VND600 billion (US$37.2 million) worth of its 15-year bond next week, the Hanoi stock market HASTCI said. The bank would auction the debt on December 12 and issue them on December 14 for maturity on December 14, 2022, the over-the-counter exchange said in a statement Saturday. Proceeds from the issue will go to the construction of high-ways, bridges and be used for various state projects. The bank, one of Vietnam's two policy lending...http://bankingvietnam.blogspot.com/2007/12/vietnam-bank-to-sell-vnd600-bln-in.html |