The Business Times: Bad debts, credit growth to be major challenges in 2014: Bank leaders

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• Bad debts, credit growth to be major challenges in 2014: Bank leaders
• State-owned bank executive arrested for mismanagement
• ADB highly evaluates Vietnam’s monetary policy reforms
• Cash flow boosts local stocks
• Jan 16: Vietnam central bank keeps dollar exchange at vnd21,036
• New decree targets reduction of cash payments
• Behind Vietcombank’s robust profits
• Banks brace for high Tet cash demand
• SeABank, PVI Holdings in comprehensive cooperation
• Banks still bleak about boosting credit in 2014

Bad debts, credit growth to be major challenges in 2014: Bank leaders Posted: 15 Jan 2014 06:45 PM PST Based on the assessments, banking industry's activities will gradually stabilise in 2014 in accordance with economic recovery. However, according to bank leaders, it does not mean the end of challenges.  Based on the assessments, banking industry's activities will gradually stabilise in 2014 in accordance with economic recovery. However, according to bank leaders, it does not […] The post Bad debts, credit growth to be major challenges in 2014: Bank leaders appeared first on Vietnam Business News.

State-owned bank executive arrested for mismanagement Posted: 15 Jan 2014 06:43 PM PST Police with the Ministry of Public Security said Sunday they had arrested the former deputy general director of state-owned Vietnam Bank for Agriculture and Rural Development (Agribank) for alleged economic mismanagement…. Kieu Trong Tuyen was arrested on January 9 for investigations into charges of "lack of responsibility in economic management, causing serious consequences," police said […] The post State-owned bank executive arrested for mismanagement appeared first on Vietnam Business News.

ADB highly evaluates Vietnam’s monetary policy reforms Posted: 15 Jan 2014 06:41 PM PST On January 14 2013, governor of the State Bank of Vietnam (SBV) Nguyen Van Binh had a courtesy meeting with chair of Asian Development Bank (ADB) Takehiko Nakao…. Governor Nguyen Van Binh congratulated goals and strategies that ADB has achieved in recent year and gratefully thanked the ADB's support for Vietnam. Especially, with management of […] The post ADB highly evaluates Vietnam's monetary policy reforms appeared first on Vietnam Business News.

Cash flow boosts local stocks Posted: 15 Jan 2014 06:38 PM PST Benchmark indices soared yesterday, showing improved liquidity on both national bourses. On the HCM City Exchange, the VN-Index increased for the ninth straight day, finishing at 526.68 points, 0.48 per cent higher than Tuesday’s trading. Liquidity improved, with the total trading value reaching VND1.86 trillion (US$88.5 billion) on the exchange of 127.58 million shares. Cash […] The post Cash flow boosts local stocks appeared first on Vietnam Business News.

Jan 16: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 15 Jan 2014 06:38 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Thursday, unchanged for 6 months and a half. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, some commercial banks lowered […] The post Jan 16: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

New decree targets reduction of cash payments Posted: 15 Jan 2014 06:35 PM PST From March 1 State enterprises will have to switch to non-cash payments as stipulated by a Government decree issued in December. Organisations and individuals using public funds will be prohibited from making payments in cash unless permitted or required by the Ministry of Finance and the State Bank of Viet Nam. Non-cash payments will become […] The post New decree targets reduction of cash payments appeared first on Vietnam Business News.

Behind Vietcombank’s robust profits Posted: 15 Jan 2014 06:33 PM PST In the second half of 2013, the bank's credit growth exceeded 14 percent and thereby the lender's consolidated profit was up to 5.727 trillion dong. In the first half of 2013, Vietnam Commercial Joint Stock Bank For Foreign Trade (Vietcombank-VCB)'s credit was still at negative, but in the second half of 2013, the bank's credit […] The post Behind Vietcombank's robust profits appeared first on Vietnam Business News.

Banks brace for high Tet cash demand Posted: 15 Jan 2014 06:31 PM PST As demand for cash withdrawals from automated teller machines (ATMs) always surges in the lead up to the traditional Lunar New Year holiday, or Tet, banks have been taking measures to cope with forthcoming ATM overloads…. The head of an ATM service department of Vietcombank's branch said the bank has around 5.5 million ATM cardholders […] The post Banks brace for high Tet cash demand appeared first on Vietnam Business News.

SeABank, PVI Holdings in comprehensive cooperation Posted: 15 Jan 2014 06:30 PM PST Southeast Asia Commercial Bank (SeABank) and PVI Holdings Company inked a comprehensive cooperation agreement last Friday to exploit advantages of both sides and better customer services. Under the agreement, SeABank will become the main service bank for PVI Holdings, its staff, member units and customers for various banking services such as account, credit, international payment […] The post SeABank, PVI Holdings in comprehensive cooperation appeared first on Vietnam Business News.

Banks still bleak about boosting credit in 2014 Posted: 15 Jan 2014 06:28 PM PST Bank executives are mulling ways to achieve credit growth this year amid a continuing tough business climate. The government's target of 12-14 per cent credit growth is being scrutinised as overly ambitious by banks, though lending rates are falling and last year's worrisome bad debt issue has been partially addressed. According to Sacombank general director […] The post Banks still bleak about boosting credit in 2014 appeared first on Vietnam Business News.

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