Small banks undergo restructuring through M&A

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VietnamPlus English 4 day(s) ago 2 related news

Small banks merging into bigger banks is becoming a growing trend in Vietnam.The State Bank of Vietnam (SBV) said it wants to reduce the number of commercial banks by half after three years, according to an article published on the English language news website VietNamNet Bridge on April 16.

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Bank restructuring path trends towards the merger

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VietnamNet English 4 day(s) ago 2 related news

Bank restructuring path trends towards the merger

VietNamNet Bridge – Small banks merging into bigger banks is becoming a growing trend in Vietnam. This is what the State Bank wants to see to implement its plan to halve the number of commercial banks after three years.

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HCMC opens four high class public restrooms

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SaiGon GP English 7 day(s) ago

HCMC opens four high class public restrooms

Ho Chi Minh City Department of Transport and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) opened four high class public restrooms at four large parks including Tao Dan, September 23, Le Van Tam and Gia Dinh in Ho Chi Minh City on April 12.

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Vietinbank may acquire Petrolimex's PGBank

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VietNam News English 1 week(s) ago 2 related news

PGBank, a small in-house bank of Petrolimex, may sell 99 per cent of its stake to the second-largest bank by assets, Vietinbank, as part of its restructuring process.

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City’s banks offer VND3.4 trillion loans

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SaigonTimes English 1 week(s) ago

City’s banks offer VND3.4 trillion loans

HCMC – HCMC-based banks have guaranteed VND3.4 trillion preferential loans for over 100 enterprises following five business matching sessions since early this year, said Nguyen Hoang Minh, deputy director of the central bank’s HCMC branch.

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Vietnam banks cut mortgage rates, but buyers not keen

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Báo Thanh Niên English 3 week(s) ago

Vietnam banks cut mortgage rates, but buyers not keen

A view of the Him Lam Riverside apartment project in District 7. Photo by Dinh Son

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Shareholders question Sacombank-Southern Bank merger plan

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SaigonTimes English 3 week(s) ago

Shareholders question Sacombank-Southern Bank merger plan

HCMC - Shareholders of Saigon Thuong Tin Commercial Bank, or Sacombank, approved the bank’s merger with Southern Bank at an annual general meeting on March 25 with a vote of 97.3%. But there were some shareholders backing the plan but others objecting to it.

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Shareholders approve Vietnam’s Sacombank merger despite worries

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Báo Tuổi Trẻ English 3 week(s) ago

Shareholders approve Vietnam’s Sacombank merger despite worries

Vietnamese lender Sacombank’s plan to merge with another local bank, Phuong Nam (Southern) Bank, received a unanimous approval from its shareholders on Tuesday during a meeting overshadowed by worries that the merger would increase the burden on rather than benefits for the bank.

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Sacombank shareholders greenlight merger

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VietNam News English 3 week(s) ago 2 duplicate news

Sacombank shareholders yesterday agreed to the bank's plan to merge with Southern Bank which will be implemented this year if the feasibility study is approved by the authority and shareholders.

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Vietnam's Sacombank to merge with Southern Bank

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Báo Thanh Niên English 3 week(s) ago

Vietnam's Sacombank to merge with Southern Bank

Shareholders of Sacombank cast votes on the bank's merger with smaller lender Southern Bank. Photo courtesy of Tuoi Tre

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Bank M&A deal nears

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Báo Đầu Tư English 1 month(s) ago 1 duplicate news

Bank M&A deal nears

Many market observers believe that Sacombank will benefit less from its merger with Southern Bank.

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Central bank to cut key interest rates

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VietNam News English 1 month(s) ago 1 related news

Several key interest rates will be cut to help reduce lending rates and combat stagnant production and negative credit growth, according to the State Bank of Viet Nam.

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ATM site rentals high

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SaigonTimes English 1 month(s) ago

ATM site rentals high

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Bank restructuring aims to eliminate weak banks from market

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VietnamNet English 1 month(s) ago

Bank restructuring aims to eliminate weak banks from market

VietNamNet Bridge – An impending merger between Southern Bank and Sacombank is the latest move in Vietnam’s banking restructuring process.

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Bulgarian national caught using fake credit cards in Vietnam

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Báo Thanh Niên English 1 month(s) ago 2 related news

Bulgarian national caught using fake credit cards in Vietnam

A Sacombank ATM booth at 16-18 Do Quang Dau st., HCMC. A Bulgarian man was arrested after being caught using fake credit cards to withdraw cash from this booth on March 9, 2014.

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