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Banking News (Week 28, 2021)

Banking News (Week 28, 2021)

Wednesday 21, 07 2021
Following is the news brief on Vietnam’s banking industry for the 28th week of 2021 compiled by VietnamCredit.

National Citizen Bank

The State Bank of Vietnam issued a document approving for the National Citizen Bank (NCB – HNX: NVB) to increase charter capital by a maximum of 1,500 billion VND, equivalent to an increase of more than 36.5%, to 5,600 billion VND, through the form of issuing shares to shareholders according to the Plan to increase charter capital approved by the NCB’s General Meeting of Shareholders. In 2021, NCB sets a target of total assets of 95,000 billion VND, an increase of 5.5% compared to the end of 2020; credit growth depending on the limit allowed by the State Bank according to the operating policy from time to time; deposits from customers reached 80,000 billion VND; bad debt ratio below 3%; net profit from business activities reached about 1,000 billion VND.


The State Bank

The State Bank has issued Document No. 4603/NHNN-TTGSNH approving the request to increase charter capital of CIMB Vietnam One Member Limited Liability Bank Accordingly, the State Bank of Vietnam approves the increase of CIMB Bank Vietnam. charter capital from 3,467,200,000,000 VND to 3,698,200,000,000 VND.

Ho Chi Minh City Development Commercial Joint Stock Bank

Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank - stock code: HDB) was approved by the State Bank to pay a 25% stock dividend, thereby increasing its charter capital to more than 20,073 billion VND. The bank recently deploys Basel III, Moody's Investors Service (Moody's) has upgraded its rating outlook from "Stable" to "Positive". The Asian Development Bank (ADB) also decided to increase the trade finance limit and revolving credit limit for HDBank from 85 million USD to 150 million USD.



Agribank has implemented many solutions to support customers affected by the COVID-19 epidemic. From June 16, 2021, Agribank doubled the size of preferential credit packages for customers affected by the Covid-19 epidemic to 200,000 billion VND with a preferential interest rate policy. Specifically, short-term lending interest rates in VND are common from 5.5% - 7%; medium and long-term loans in VND from 7%-8%; Interest rates for short-term loans in USD (100% for short-term loans) are popular from 2.5% - 2.8%. In addition, to meet the shopping and daily life needs of customers, especially in the context of economic difficulties due to the pandemic and to limit black credit, Agribank spent VND 20,000 billion implemented the program called "Consumer loans with preferential interest rates for individual customers in urban areas".


Agribank promotes non-cash payment in the context of the ongoing COVID-19 pandemic. Agribank’s non-cash payment channels have always brought great experience to customers. The goals set out in the National Financial Inclusion Strategy, including: To strive that by 2025, at least 80% of adults will have transaction accounts at banks or other authorized organizations; the number of non-cash payment transactions has increased by 20-25%/year, etc., are gradually becoming a reality with the cooperation of banking and financial institutions, including Agribank.



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Compiled by VietnamCredit

Banking & Finance

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