Vietnam International Bank (VIB) received shareholders approval to distribute 44.6 per cent dividend payment rate in 2016, including 5 per cent in cash and 39.6 per cent in bonus shares.
Following Shinhan Vietnam’s successful acquisition of ANZ Vietnam’s retail business, fellow Korean banks have also expanded their s and market share in Vietnam, seizing the lead in the foreign bank race on the Vietnamese market.
Vietcombank lent Viet Nam’s leading egg supplier Ba Huan Company Ltd VND60 billion (US$2.6 million) to build a high-tech egg processing plant in Ha Noi.
Most banks of small and medium are mulling over scaling up capital sources to boost their financial strength.
Vietcombank and Indovina Bank have signed an agreement with Van Phu Bac Ai JSC to provide VND1.46 trillion (US$64.32 million) to finance construction of a section of HCM City’s Ring Road No 2.
The HCM City Development Joint Stock Commercial Bank (HDBank) will increase its charter capital to almost VND8.83 trillion (US$389 million) from the curent VND8.1 trillion by issuing 56.7 million shares, vietnamplus.vn reports.
The multinational insurance company Aviva Plc has announced the acquisition of VietinBank’s entire 50 per cent shareholding in its life insurance joint venture VietinBank Aviva Life Insurance Limited (Aviva Vietnam) and signing of a new distribution agreement with VietinBank to sell life and health insurance products through the bank’s network of over 1,100 branches and transaction offices, the second-largest in the market.
Foreign investment funds have expressed renewed interested in Vietnamese financial technology startups, despite a series of challenging setbacks that occurred in previous e-commerce deals.
ANZ Vietnam will be offloading its retail banking arm to Shinhan Vietnam by the end of 2017, to focus primarily on its institutional banking in the country, ANZ Vietnam said in its latest press release.