VietNamNet Bridge – Last August Prime Minister Nguyen Xuan Phuc issued Decision No.986/QĐ-TTg on the Development Strategy of the Banking Sector.

VietNamNet Bridge - Businesses in the finance and banking sector continued to prosper in the first six months of the year.

VietNamNet Bridge - Big changes in key personnel in the banking sector are occurring as the bank restructuring process gears up.

VietNamNet Bridge - The steering committee of Vietcombank, members of the board of directors and supervisory board receive VND1.9 billion a year in salary each. 

VietNamNet Bridge - Vietnamese tycoons are now rich enough to take over foreign firms, using them as a jumping board to conquer the international market.

VietNamNet Bridge - Some businesses have regained their strength after merger and acquisition (M&A) deals because foreign capital was pumped into the companies in a timely manner. Meanwhile, many others still are experiencing tough days.

As the season of annual shareholders’ meetings is coming, banks’ shareholders are looking forward to more mergers and acquisitions in the sector.

 VietNamNet Bridge – Rising demand for credit across Vietnam’s private sector is expected to drive bank loan books above the highs recorded last year.

 VietNamNet Bridge – On February 19 Viet Nam Maritime Joint Stock Bank (MaritimeBank) sold 64.2 million shares of Military Bank (MB), accounting for 4 per cent of the military-owned lender’s registered capital.

VietNamNet Bridge - Vietnamese businesses are now offering extremely high pay to hunt for talents to compete with foreign invested enterprises.

The number of commercial banks cut from 42 to 34 in the last four years when the banking system underwent a restructuring process, considered ‘major surgery’. No bank went bankrupt. 

VietinBank, one of Vietnam’s largest commercial banks, is considering raising the foreign ownership ratio to 40 percent. If the bank’s proposal is approved, it will be the first bank with a foreign ownership of over 20 percent.

 VietNamNet Bridge – Viet Nam is continuing efforts to reform its banking system and invite foreign banks to join the domestic market via increased bank ownership. 

 Experts and investors see another booming year for M&A (mergers and acquisitions), in 2015 which is expected to beat the record of nearly US$5 billion in value seen in 2012.

The second phase of the bank restructuring process initiated by the State Bank is likely to start in 2015, and merger and acquisition (M&A) plans are also expected to finally occur this year.

VietNamNet Bridge – The year 2014 proved to be an unlucky year for bankers with many of the “big guys” suffering hard knocks during this period.

 VietNamNet Bridge – Remittances are pouring into Vietnam towards the year’s end, but most of this money is bypassing the official banking sector.

 VietNamNet Bridge – Commercial banks have seen significant changes in leadership regularly over the last two years.

 VietNamNet Bridge – Investors have been reluctant to buy shares of banks, and as a result, state-owned enterprises (SOEs) cannot withdraw the capital they had previously invested.

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