Viet Nam News HÀ NỘI – The profitability of Vietnamese banks has improved significantly, driven by growth in core income and robust macroeconomic conditions. A report from the State Bank of Việt Nam (SBV) released this week showed the return on assets (ROA) ratio of the domestic banking system surged to 0.7 per cent by the end of November last year from 0.57 per cent at the end of the previous year while the return on equity (ROE) ratio also increased by 1.42 percentage points to 9 per cent. Finance and finance leasing companies had the highest ROA ratio in the system, with 3.02 per cent. However, the rate decreased compared to the 3.57 per cent level recorded at the end of 2017. The companies also topped in ROE with 13.83 per cent. The group of policy banks ranked second with the ROA ratio of 1.02 per cent while cooperative banks had the lowest ROA at 0.42 per cent. The ROA ratios of State-owned and joint stock commercial banks were low at only 0.52 per … [Read more...] about Vietnamese banks see improved profitability
City cooperative bank matunga
The central bank’s new strategy to sustain credit market in 4.0 era
The central bank’s Deputy Governor Nguyen Kim Anh Can you share with us the main goals of Decision 986? How will this new strategy impact the Vietnamese banking sector? The State Bank of Vietnam (SBV) has closely observed the development of the Vietnamese financial sector in the past two decades, realising the opportunities and challenges that financial institutions may encounter in the next ten years. With this in mind, Decision 986 is divided into two levels: First, the SBV will be modernised with a rational organisation model and synchronous, effective, and efficient operation mechanisms in line with the country’s socialist-oriented market mechanism. Our priority objective is to control inflation, contribute to Vietnam’s macroeconomic stability, and promote sustainable growth, while ensuring the safety and soundness of the credit institution network and performing our key role in ensuring financial stability. We will also continue our supervisory role for the … [Read more...] about The central bank’s new strategy to sustain credit market in 4.0 era
City cooperates with Osaka to build low-carbon society
HCM City has implemented many renewable-energy measures in an effort to reduce greenhouse gas emissions. — VNA/VNS Photo Viet Nam News HCM CITY — Authorities in HCM City and Osaka in Japan yesterday vowed to promote cooperation among the two localities in low-carbon city development at a meeting held in HCM City. Speaking at the Mayor’s Policy on Low Carbon City Development conference, Huỳnh Cách Mạng, vice chairman of the HCM City People’s Committee, said Osaka had many effective solutions on the environment, climate change adaptation, water management and solid waste classification at the source. Osaka has provided HCM City with environmental consultancy services and solutions such as water management techniques, classification of solid waste at the source, and response to climate change. Mạng also sent his condolences to the Japanese people, especially the people and authorities of Osaka affected by the recent … [Read more...] about City cooperates with Osaka to build low-carbon society
Mobile the top channel for Citi Consumer Banking clients in Vietnam
Mobile use at Citi has surged in the last 12 months by 48%, making it the fastest growing digital channel at Citi. Vietnam has recorded an 82% year-on-year growth in downloads of the Citi Mobile ® App and Citi’s customers show strong engagement, with those who actively use the app increasing by 85% year-on-year. Digital is also growing rapidly as a source of new business at Citi. Digital acquisition in Citi’s Credit Cards and Loans business grew 57% year-on-year, and digital lending now accounts for 39% of total consumer loans fulfilled by Citi in the region. For digital acquisition, in Vietnam, the sum of 2017 digitally acquired cards and digitally acquired loans has grown 65% year-on-year. 90% of the customers avail Citi Easy cash facility through digital channels. This growth has been underpinned by Citi’s digital investments and growth in partnerships on leading digital ecosystems. “At Citi our goal is to deliver remarkable … [Read more...] about Mobile the top channel for Citi Consumer Banking clients in Vietnam
HCM City cooperates with RoK to improve education quality
The Republic of Korea (RoK) is willing to cooperate with Vietnam and particularly Ho Chi Minh City to increase education quality and lecturers’ capacity at all educational stages. Chairman of the Korea-Asia Friendship Foundation (KAFF) Choi Jae-sung made the statement at a meeting with Vice Secretary of the municipal Party Committee Tat Thanh Cang in HCM City on December 2. A delegation from the Korea-Asia Friendship Foundation (KAFF) is paying a working visit to HCM City He thanked the southern economic hub for supporting the building of an institute to enhance Vietnamese teachers’ capabilities, and hoped to build 2-3 models in Vietnam, including the first one in HCM City with the participation of Korean and international lecturers. He suggested the two sides study cooperation programmes in education and enable the two countries’ lecturers to exchange experience in modern teaching methods. For his part, Cang welcomed the KAFF’s initiative as a practical … [Read more...] about HCM City cooperates with RoK to improve education quality