Vietnam

Outsiders who successfully took control of Sacombank are pursuing mergers with other banks.

The State Bank of Vietnam has assigned VietinBank to service a project worth $80 million funded by the Asian Development Bank.

Laos-Vietnam Bank will double its chartered capital to 70 million USD in June 2012 from the current 37.5 million USD from June 2012.

Almost all the power in Sacombank has been transferred to new shareholders group, ending a year-long acquisition.

Bank cards are mainly used for cash withdrawal in Vietnam, with 82% of the total transaction value conducted via the ATM system.

Vietcombank will allocate VND 2 trillion or US$96 million to provide low-interest loans for business and consumption purposes.

Ocean Bank will sell 15 per cent of its total capital to Hermes Capital this year.

VietinBank has completed all procedures to debut its branch in Berlin in late May 2012.

Ocean Bank revealed a plan to form a partnership with the UK’s Hermes Capital to help better its operations.

DongA Bank generated a pretax profit of VND500 billion or US24 million in the first four months of this year.

Eximbank will now control Sacombank's board of directors after investing about VND1.6 trillion or US$76.2 million in the said bank.

The pace of credit growth has outstripped the availability of funds since 2008, says Standard & Poor's.

With various difficulties that abound Vietnam's banking system, is the target even possible?

VietinBank became the first Vietnamese financial institution to successfully issue US$250 million worth of bonds in international markets at an annual real coupon of 8.25%.

Sacombank may sell shares to foreign investors up to 15 percent of it chartered capital.

The draft plan to merge Hanoi Building Commercial Bank into Saigon-Hanoi Commercial Bank has been approved by shareholders of both banks.