How did many banks

How did many banks' profits surge in Q1 2024?

The business results for Q1 2024 of commercial banks showed positive growth, with some banks experiencing up to 165% growth.
Shareholders expect the shareholder meeting season

Shareholders expect the shareholder meeting season

From mid-March to April this year, many banks have planned to organize their annual general meetings of shareholders (AGM).
Banks reduce revenue from insurance services

Banks reduce revenue from insurance services

In 2023, a series of negative incidents related to insurance sales resulted in a drop of revenue from cross-selling insurance of many banks.
Customs strives to expand utilities in e-tax payment

Customs strives to expand utilities in e-tax payment

VCN - To expand state budget payment methods to increase utilities in e-tax payment, the General Department of Customs has developed and collected comments on the draft Circular guiding electronic transactions in guaranty of revenue of tax, late payment i
The Breakthrough of non-cash payments in the public sector

The Breakthrough of non-cash payments in the public sector

VCN - Based on completing legal corridor and constantly investing in modern infrastructure, non-cash payments in the public sector have had impressive growth, bringing outstanding benefits to all participating parties, from people, businesses to state man
Credit quality suffer from objective factors declining bad debt handling effectiveness

Credit quality suffer from objective factors declining bad debt handling effectiveness

VCN - According to the Government's report, as of the end of July 2023, the on-balance sheet bad debt ratio was 3.56%, higher than 2% at the end of 2022.
Banks join in promoting green credit

Banks join in promoting green credit

Commercial banks in Vietnam have been actively offering loans for green projects and expanding green credit through mobilising capital from international credit institutions.
Is the non-interest income to be a "salvage" for bank profits?

Is the non-interest income to be a "salvage" for bank profits?

The context of slowing growth, thinning profit margins (NIM) has caused banks' main revenue to decrease in the first six months of 2023. Therefore, for many banks, non-interest income is a "salvation" so that profits do not fall too deeply.
Big 4" banks sharply lower deposit interest rates, loan interest rates may further decrease

Big 4" banks sharply lower deposit interest rates, loan interest rates may further decrease

VCN - Accordingly, right from today (August 23), BIDV lowered the deposit interest rate for 1-month and 3-month term deposits by 0.3% to 3-3.8 percent/year.
Insurance is no longer the "golden egg-laying goose" for banks

Insurance is no longer the "golden egg-laying goose" for banks

VCN- Amidst the crisis of confidence in the "marriage" between banks and insurance, the cross-selling revenue from insurance at banks significantly declined in the first half of the year compared to the same period last year.
Commercial banks invest nearly 630 million USD in digital transformation: SBV

Commercial banks invest nearly 630 million USD in digital transformation: SBV

Commercial banks in Vietnam have invested a total of 15 trillion VND (629.7 million USD) in digital transformation, heard an online seminar on ensuring security and safety for e-payments in the digital era held on August 21.
Banks

Banks' "step back" in the second quarter

VCN - Up to now, 27 banks have announced business results for the second quarter and first six months of 2023.
Increasing access ability to capital through electronic lending method

Increasing access ability to capital through electronic lending method

VCN - Circular No. 06/2023/TT-NHNN amending and supplementing a number of articles of Circular 39/2016/TT-NHNN dated December 30, 2016 of the State Bank of Vietnam on regulations on lending activities has added a separate section for lending activities by
Five banks earned profits of more than 10 trillion VND in H1

Five banks earned profits of more than 10 trillion VND in H1

Five banks in Vietnam recorded a pre-tax profit of more than 10 trillion VND (422 million USD) in the first six months of this year, financial statements of the banks showed.
Law needed to ensure banks can repossess collateral on bad debts

Law needed to ensure banks can repossess collateral on bad debts

It is necessary to create a synchronous and breakthrough legal framework to deal with bad debts in order to achieve more positive results as the work is facing many challenges, according to experts.
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