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Profits come from service diversification Looking at the profit results of the four State-owned commercial banks (Big 4), Vietcombank had a pre-tax profit of nearly VND23.1 trillion (approximately US$1 billion) - the highest level in the banking system, helping the lender to be in the list of 200 groups with the highest profit in the world. Vietcombank's credit growth in 2020 was higher than the general growth rate of the banking system, at 14 percent. This is also the highest credit growth ever of this lender and the highest in the banking industry. The pre-tax profit of Vietinbank also reached VND16.45 trillion, up 43.5 percent over the previous year due to good credit growth. The recent report of Agribank shows that not only did the business results continue to improve, Agribank's administrative costs in 2020 were also being cut by 10 percent, helping the bank's pre-tax profit to touch nearly VND12.87 trillion, VND369 billion, or approximately 3 percent, higher than the plan. It … [Read more...] about Banks continue to lower interest rates further to support economic growth

The transition of e-commerce and addressing barriers to digital transformation have been illustrated via the change of business owners, as 71 percent of SMEs in Vietnam said they have adapted to new methods to introduce their products and services to customers since the pandemic broke out, such as setting up e-commerce channels and in delivery. … [Read more...] about Visa supports online firms amid COVID-19 pandemic

New York (VNA) – Vietnam supports the democratic process in Somalia, particularly the upcoming elections, Minister Counsellor Nguyen Phuong Tra, Deputy Permanent Representative of Vietnam to the United Nations, has said. At the informal dialogue with between the United Nations Security Council (UNSC) and Somalian Foreign Minister Mohamed Abdirizak on January 20, Tra expressed her hope that the Federal Government of Somalia, member states and political parties will make more efforts to reach political consensus on specific date to hold elections as well as seek solutions to existing challenges. Regarding the security situation in Somalia, Tra condemned the bomb explosion that killed at least six military personnel and government officials in Lower Shabelle on January 17, as well as other attacks on civilians, security and military forces, and establishments of the UN and the African Union Mission to Somalia (AMISOM). She took the occasion to reiterate support for Somali … [Read more...] about Vietnam supports democratic process in Somalia: Diplomat

Hanoi (VNA) – Party General Secretary and State President Nguyen Phu Trong and Prime Minister Nguyen Xuan Phuc on January 21 congratulated Joseph R. Biden Jr. on taking oath as the 46th President of the US. In their congratulations, the Vietnamese leaders expressed their belief that the new US President and his administration will obtain various achievements for prosperous development and happiness of the US and its people, as well as continue to contributing to peace, stability, cooperation and development in the world. On the basis of Vietnam-US relations built over the last 25 years, and sentiments of President Biden toward Vietnam, the ties between the two countries will continue to thrive in a result-oriented, effective and sustainable manner. On the same day, Vice President Dang Thi Ngoc Thinh extended congratulations to Vice President Kamala Harris. Biden was sworn in as the 46th president of the US on January 20 (US time)./. … [Read more...] about Congratulations to new US President, Vice President

In their congratulations, the Vietnamese leaders expressed their belief that the new US President and his administration will obtain various achievements for prosperous development and happiness of the US and its people, as well as continue to contributing to peace, stability, cooperation and development in the world. … [Read more...] about Vietnamese leaders congratulate new US President, Vice President