Five banks in Vietnam recorded a pre-tax profit of more than 10 trillion VND (422 million USD) in the first six months of this year, financial...
Sacombank’s H1 pretax profit reached VND 4,755 billion from VND 13,500 billion in revenue, up 63.5% and 20 respectively, according to company’s statement.
Abundant cash is meant to support markets, but large cash flows have not yet reached businesses.
Though deposit interest rates have decreased, lending interest rates are still high due to policy lag.
Several banks are trying to increase their financial buffers to increase their resources to deal with risks such as new bad debts.
The State Bank of Vietnam is expected to lower 50bp rate interest cut in third quarter of 2023, according to HSBC analysts.
Almost all banks in Vietnam have cut interest rates for deposits for terms from six months and above to below 8% per year. Illustrative photo (Photo:...
The two-year-old fintech platform Hello Clever, which uses central bank technology, is among the 50 fastest-growing fintech businesses in Australia.
Several banks have lowered lending interest rates to support economic growth in the second quarter of this year.
At this year's General Meeting of Shareholders, Sacombank's leaders presented the plan for a pre-tax profit of VND 9,500 billion, an increase of 50% compared to...