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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

The World Bank forecast that about US$16.7 billion in remittances will flow into Viet Nam this year, up 4.6 per cent from a year earlier. — Photo tinnhanhchungkhoan.vn Remittances to Viet Nam are likely to increase in 2019 because overseas Vietnamese people believe in the stability of the economy and see better investment opportunities, economist Nguyen Tri Hieu said. He attributed the increasing trust to the Government’s various policies to improve the local business climate by simplifying investment procedures. Remittances have been forecast to reach US$17 billion this year by some organisations, he said. The World Bank forecast that about $16.7 billion in remittances will flow into Viet Nam this year, up 4.6 per cent from a year earlier. The BIDV’s Training and Research Institute also made a similar prediction, which will put the Southeast Asian country among the world’s top ten remittance receivers for a third year in a row. The value rose from $13.8 … [Read more...] about Remittances to Viet Nam to further rise in 2019

Financial Markets Remittances to Vietnam expected to rise this year: experts The Saigon Times Daily Monday,  Dec 16, 2019,18:44 (GMT+7) Remittances to Vietnam expected to rise this year: expertsThe Saigon Times Daily A bank teller counts U.S. banknotes. Remittances to Vietnam are expected to reach US$16.7 billion this year – PHOTO: THANH HOA HCMC – Remittances to Vietnam are likely to rise further this year, according to economists, potentially ranking the country among the top 10 recipients of remittances for the third consecutive year. Nguyen Tri Hieu, an independent specialist on banking and finance, told the Vietnam News Agency that the Government has adopted various policies to enhance the local business environment and simplify investment procedures, thereby boosting investor confidence. These policies have encouraged overseas Vietnamese to transfer their money back home to invest in production and … [Read more...] about Remittances to Vietnam expected to rise this year: experts

  The World Bank forecast that about US$16.7 billion in remittances will flow into Việt Nam this year, up 4.6 per cent from a year earlier. — Photo tinnhanhchungkhoan.vn HÀ NỘI — Remittances to Việt Nam are likely to increase in 2019 because overseas Vietnamese people believe in the stability of the economy and see better investment opportunities, economist Nguyễn Trí Hiếu said. He attributed the increasing trust to the Government’s various policies to improve the local business climate by simplifying investment procedures. Remittances have been forecast to reach US$17 billion this year by some organisations, he said. The World Bank forecast that about $16.7 billion in remittances will flow into Việt Nam this year, up 4.6 per cent from a year earlier. The BIDV’s Training and Research Institute also made a similar prediction, which will put the Southeast Asian country among the world’s top ten … [Read more...] about Remittances to Việt Nam to further rise in 2019