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State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts (Photo: vietnamfinance.vn)   Hanoi (VNA) - The State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts. Under Document 563/NHNN-TTGSNH issued recently, SBV asked lenders to avoid too much focus on real estate customers and maintain credit growth in the sectors within safe limits. The institutions must keep a close watch on lending to the sectors, continuously review and assess the progress of realty projects and their developers’ financial condition, particularly as it relates to their collateral assets, and have measures in place to handle any defaults, SBV said in the document. Besides evaluating and processing lending applications with scrutiny, the institutions must also monitor borrowers to ensure that they refrain from … [Read more...] about Central bank urges property lending caution

The industrial production index went down in November with the decline of both mining and manufacturing industries. This is a big surprise in the context of stable global and domestic demand. Industrial production index The processing and manufacturing industries also decreased by 1.1 percent in November, forcing the growth rate in the first 11 months down to 6.5 percent, lower than the 11 percent growth rate in the first 10 months. The processing and manufacturing industries also decreased by 1.1 percent in November, forcing the growth rate in the first 11 months down to 6.5 percent, lower than the 11 percent growth rate in the first 10 months. Investment capital disbursement Bank liquidity fluctuates Le Ha Vietnam among top in footwear production Vietnam the third-largest country in the world in terms of footwear production, conference hears. Will Foxconn's expansion lead to iPhone production in Vietnam? The expansion of Foxconn's investment in Vietnam may lead … [Read more...] about Vietnam’s industrial production unexpectedly slips

The model aims to provide in-depth analysis of profit under different perspectives The model was developed with all aspects of the banking business taken into consideration, including the allocation of costs from supporting departments to front offices that directly generate revenue. The main objective of this model is to provide in-depth analysis of profits under different perspectives, such as products, customer segments, and business units impacting performance, helping banking leaders make accurate and effective business decisions. KPMG is one of the world’s four largest professional audit, tax, and advisory service firms. With over 25 years of experience in Vietnam, KPMG is the leading brand, having a team of experts who are knowledgeable about banking and finance from both domestic and international perspectives. KPMG consultants have been successfully implementing human resources solutions, as well as financial management and technology solutions for various banks … [Read more...] about Viet Capital Bank and KPMG develop new profitability analysis model

Twenty-one positions, including three deputy prime ministers, were voted in for a five-year term on Saturday, the last working day for Vietnam’s legislature to finish its personnel selection for the new government. The new 27-member government is led by newly elected Prime Minister Nguyen Xuan Phuc, consisting of five heads of ministries who keep their posts and 21 officials appointed on Saturday morning. According to the 2013 Constitution of Vietnam, the prime minister has the right to nominate government positions to the lawmaking National Assembly. The premier can only sign directives for the new officials to take office once the nominees are approved by the house. Vietnam’s legislative body on Saturday approved the nominations by Prime Minister Phuc to select three new deputy prime ministers, Vuong Dinh Hue, Truong Hoa Binh and Trinh Dinh Dung. Hue, head of the Central Economic Committee, and Binh, former chief judge of the Supreme People’s Court, both … [Read more...] about Vietnam legislature approves 21 new gov’t members

Late last year, the central bank said that the number of credit institutions would be cut from the current 34 to roughly 17 to 19. Therefore, it is possible that more M&As will be announced. According to Dau Tu (Vietnam Investment Review) newspaper, the most likely targets are banks with overlapping ownerships, small or financially weak financial institutions, and those that have seen their bad debt ratio rising over the past few years. Some banks have been asked by the State Bank of Vietnam (SBV) to raise their registered capital. However, in case they cannot raise it by issuing more shares, they will have to explore M&As. Saigonbank, for example, was allowed to raise its capital from VND3.08 trillion (US$136 million) to VND4.08 trillion, but it has failed to carry out the increase. There are currently at least four other commercial banks that have the charter capital roughly around the level of Saigonbank’s VND3 trillion. Those are Kienlongbank, Viet … [Read more...] about M&A information to be released