International monetary fund and world bank

Le Duc Thinh, deputy CEO of Sacombank, speaks at a ceremony to welcome potential interns for 2020 at the lender’s head office in HCM City. — Photo courtesy of Sacombank Sacombank is set to take in 837 outstanding final year students selected from nearly 10,000 applicants majoring in economics, finance - banking, business management, marketing, international trade, foreign trade, accounting - auditing, and import-export as interns for 2020 under its “Potential Interns” programme. They will work at Sacombank's transaction offices across the country in positions such as corporate/personal customer service associates, card business specialists, consumer credit specialists, consultants, tellers, application developers and security specialists. Sacombank has been running this programme every year since 2009, providing final year students with an opportunity to be trained and experience the professional work environment in a bank. They will be paid a stipend. It is … [Read more...] about Sacombank to hire 837 interns for 2020

Deputy general director Le Quang Quang on behalf of Nam A Bank receives the Outstanding Bank for Green Credit Award 2019 The annual Vietnam Outstanding Banking Awards 2019 event, co-organised by the International Data Group (IDG) and the Vietnam Banks Association (VNBA), seeks to honour banks with eminent contributions to the sustainable development of the local economy. The prestigious accolade also recognises banks’ constant efforts and notable achievements in finance and banking and national economic development. The Outstanding Bank for Green Credit is one of the integral components of the Vietnam Outstanding Banking Awards 2019 and is awarded based on a set of criteria by an independent judging panel consisting of 15 members who represent diverse government agencies, sectors, and business associations operating in finance, banking, and ICT. Along with its high scores on the criteria, Nam A Bank was recognised for doing a prominent job in embedding green products into its … [Read more...] about Nam A Bank champions Outstanding Bank for Green Credit Award 2019

SeABank issues certificates of deposit with interest rates of up to 8.6 per cent per year. - Photo SeABank At Southeast Asia Bank (SeABank), when customers apply for a 24-month CD valued at a minimum of VND100 million (US$4,290), they can enjoy a fixed interest rate of 8.4 per cent per year, while a 36-month CD can bring them a fixed interest rate of 8.6 per cent. State-owned Bank for Investment and Development of Vietnam (BIDV) has also introduced high interest rates for long-term CD. Specifically, an interest rate of 7.6 per cent is applied for an 18-month CD valued at a minimum of VND10 million for individual customers and VND50 million for corporate customers. One leader of a bank, who declined to be named, said banks had to issue CD at high interest rates as they faced difficulties in luring long-term capital. The rate of CD is currently some 1 per cent higher than normal deposits. Besides the issue of CD, banks have also adjusted up rates of long-term deposits to attract … [Read more...] about Banks struggle to lure long-term capital

Most banking stocks either lost or remained at opening prices. CTG of VietinBank and VCB of Vietcombank, two of Vietnam’s biggest state-owned lenders, fell 2.7 percent and 1.5 percent respectively, while BID of BIDV remained unchanged. In the mid-sized lenders’ bracket, MBB of state-owned Military Bank, HDB of private HDBank, and VPB of private VPBank, lost 1.8 percent, 1.4 percent, and 0.3 percent respectively. On the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which the VN-Index is based, 178 stocks lost and 141 gained. The HoSE accounts for nearly 90 percent of market capitalization of all Vietnam’s listed companies. Liquidity of order-matched transactions rose slightly over the previous session to VND3.1 trillion ($133.24 million), the highest liquidity since December 16, but this was still lower than the November average of VND3.5 trillion ($150.45 million). The VN30 index for Vietnam’s 30 biggest market cap … [Read more...] about Bank stocks a drag on VN-Index

The Hanoi-HCM City air route has become one of the world’s busiest air routes while the overloading problems still haven't been solved. illustrative image Statistics from Flightradar24, one of the world's most popular flight tracker, shows that there are 1,000 Hanoi-HCM City routes daily. Noi Bai Airport receives 486 flights a week from Tan Son Nhat Airport and there are 489 flights from Noi Bai to Tan Son Nhat a week. Vietnam Airlines and Vietjet Air have most flights on these routes. Noi Bai Airport will receive a total of 30 million passengers this year and 35 million passengers in 2020. This is also the maximum number of passengers Noi Bai Airport can receive since only international Terminal 2 will be expanded. In 2018, Tan Son Nhat Airport received over 38 million passengers. It is forecasted that it will receive 45 million passengers in 2025 while the designed capacity of both terminal 1 and 2 is for 28 million passengers a year. There are at least 44 flights land … [Read more...] about Hanoi-HCM City among world busiest air routes