Major General Hoang Anh Tuyen, Deputy Chief of Office and Spokesperson for the Ministry of Public Security (MPS), replied to reporters’ inquiries regarding information circulating on social media related to a senior leader of the Asia Commercial Joint Stock Bank (ACB), at a regular Government press conference on January 8.

Commercial banks are seeking to issue bonds to raise long-term capital while adhering to capital safety regulations set by the central bank.

With profits exceeding 20 trillion VND (833 billion USD) in 2023, many banks are eyeing to join the billion-dollar profit club this year.

High demand during the Tet shopping season has prompted commercial banks to introduce credit offers worth hundreds of billions VND for consumers, said industry experts and insiders.

News of many banks planning to pay dividends, especially cash dividends, have attracted attention from investors in the first month of the new year.

Many domestic banks have reported positive growth in profit in the third quarter and the first nine months of 2023 even amid the slow credit expansion and a downturn trend in profit of the whole banking sector.

Going against the usual rule of gradual increases in the last months of a year, deposit interest rates in most banks are anchored at low levels, and even some continue to decrease.

The Vietnam Report JSC has recently published the list of the top 10 prestigious banks in Vietnam in 2023, which is its annual activity to recognise efforts to develop the prestige and brands of the financial-banking sector.

A majority of banks expected their business results to continually improve in Q4 2022, helping them gain profit for the whole year.

With an overall brand value growth of 49 percent, Vietnam’s banking sector is one of the fastest growing in the world, according to Brand Finance’s latest report on the most valuable and strongest banking brands globally.

In the run-up to Tet (Lunar New Year), the biggest traditional festival of Vietnam, the inflow of remittances sent by overseas Vietnamese to the homeland has been on the rise, fueled further by local banks’ preferential programmes.

The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 said it will cut lending rates in Vietnam dong for the fifth time.

The Asia Commercial Joint Stock Bank (ACB) has set a growth target of over 10 percent in pre-tax profit to more than 10.6 trillion VND (461.5 million USD) this year.

Vietnamese Ambassador to Brazil Pham Thi Kim Hoa has attended a virtual meeting between the ASEAN Committee in Brasilia (ACB) and the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) which discussed opportunities for trade and investment and ways to develop economic relations between ASEAN member states and the Latin American country.

VinaCapital Vietnam Opportunity Fund (VOF), the flagship fund of VinaCapital, announced that Asia Commercial Bank (ACB) had become its 5th largest investment.

Many banks have cut their deposit interest rates significantly this month due to a credit growth slowdown in the wake of the pandemic.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted the highest pre-tax profits among Vietnamese banks in the first six months of 2019, raking in more than 11.04 trillion VND (474.7 million USD), up 43.1 percent on-year.

Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.

Many banks have seen their employee efficiency increase significantly, with each member of staff earning them more than 1 billion VND (43,000 USD) in pre-tax profit on average last year.

Moody's Investors Service has upgraded the baseline credit assessments (BCAs) of 12 Vietnamese banks in its latest report released on October 30.