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MSB to sell off consumer finance subsidiary
Banking & Finance

MSB to sell off consumer finance subsidiary

The Vietnam Maritime Commercial Joint Stock Bank (MSB) will sell its entire stake in its consumer finance subsidiary FCCOM in order to focus on the retail, individual consumer, and small and medium-sized enterprise (SME) segments. The sale is expected to bring in $100 million and be conducted next year.
Banking & Finance

IFRS 9 key to banking sector development

International Financial Reporting Standards 9 (IFRS 9) are especially important for the banking sector to ensure a sustainable financial foundation, especially in the context of deep international integration. Some banks in Vietnam have applied IFRS 9 but there are still many difficulties and obstacles that need to be addressed.
MSB to sell off consumer finance subsidiary

MSB to sell off consumer finance subsidiary

The Vietnam Maritime Commercial Joint Stock Bank (MSB) will sell its entire stake in its consumer finance subsidiary FCCOM in order to focus on the retail, individual consumer, and small and medium-sized enterprise (SME) segments. The sale is expected to bring in $100 million and be conducted next year.
VAMC's bad debt work delayed by pandemic

VAMC's bad debt work delayed by pandemic

Many of the business plans set by the Vietnam Asset Management Company (VAMC) for 2021, such as buying bad debts with special bonds, buying debts at market value, and conducting debt recovery efforts will be difficult to complete given the lingering effects of Covid-19.
Comprehensive solutions needed to tackle bad debts

Comprehensive solutions needed to tackle bad debts

Credit risks are tending to rise and are putting pressure on bad debt levels. Controlling and handling bad debts continue to be a huge challenge for Vietnam’s banking sector. Analysts have said that the country needs to speed up the handling of bad debts and adopt comprehensive solutions.
IFRS 9 key to banking sector development

IFRS 9 key to banking sector development

International Financial Reporting Standards 9 (IFRS 9) are especially important for the banking sector to ensure a sustainable financial foundation, especially in the context of deep international integration. Some banks in Vietnam have applied IFRS 9 but there are still many difficulties and obstacles that need to be addressed.
Foreign currency supply abundant, SBV cuts USD buying rate

Foreign currency supply abundant, SBV cuts USD buying rate

The State Bank of Vietnam (SBV) has announced that it will reduce the buying rate for USD from November 5. This is the third time it has cut the rate this year. There is an abundant supply of foreign currencies in the Vietnamese market at this time.
Annual credit growth may reach 13%

Annual credit growth may reach 13%

As of October 29, credit in the entire economy stood at nearly VND10 quadrillion ($439.53 billion), while VND120 trillion ($5.27 billion) was pumped into the market. Analysts believe that 2021 credit growth may reach 13 per cent.

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