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Vietinbank may offer 6 percent coupon on $500 million bond

The lender is “determined to sell the bonds within this year,” said Chairman Pham Huy Hung.

HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale

“VietinBank has made a good choice of advisers,” said Alan Pham, chief economist at VinaCapital Investment Management Ltd. HSBC has a depth of expertise and wide distribution network globally that will help get the Hanoi-based bank a “good rate,” he said.

VietinBank, UniCredit sign cooperation agreement

The agreement will offer opportunities for a tighter partnership, better exchange of information, experience sharing, and access to each other’s customer information. Such opportunities will allow both sides to expand their operations, enhance their financial strength, and undergo further development in the long term.

PM approves bank's equitisation plan

MHB was established as a state-owned bank in 1997. Since then, its asset value has reached nearly VND51.4 trillion ($2.5 billion), 171 times its initial worth. The move follows the earliers equitisation of Vietcombank (VCB) and Vietinbank (CTG) – which are now listed on the HCM Stock Exchange.

VietinBank finances 600b dong for Nhon Trach 2 project

The project’s total investment of $706 million will be arranged by PetroVietnam Finance Corp (PVFC)’s HCM City branch (PVFC HCM).

Trillion-dong bank club

In previous years, the trillion-dong bank club used to include four state commercial banks plus ACB, Techcombank, Sacombank, Vietinbank and Vietcombank that are still called “state lender” because the state holds majority stake in them. During the last 3 years, the club admitted Eximbank, Maritime Bank and Military Bank. In 2010 alone, VIB joined the club.

Banks expect to post strong profit growth

Partly-equitised Vietinbank posted a pre-tax profit of VND4.37 trillion (US$203.25 million) for the year, up 48 per cent over 2009, while Vietcombank also saw its pre-tax profit rise by 21 per cent to VND5.4 trillion ($252 million). “Most of our profit came from credit operations, with institutional borrowers accounting for 70 per cent of total outstanding loans,” said Vietinbank chairman Pham Huy Hung.

VietinBank to sell shares to Nova Scotia in Q2 2011

Chairman Pham Huy Hung said the International Finance Corporation (IFC) would remit more than $300 million in the first quarter of 2011 to conclude the purchase of 10% of VietinBank, or the Vietnam Joint Stock Commercial Bank for Industry and Trade.

Bank, card firms link up with merchant network

The network is operated by 20 commercial banks including all the giant state-owned ones like Vietcombank, Agribank, VietinBank, BIDV, and Eximbank, and has 131 merchants in the city alone.

IFC to buy bonds to own 10 pct in Vietnam’s ABBank

The investment would be IFC’s second in a Vietnamese lender since October, after a $186 million purchase in October for 10% of stake in VietinBank , the country’s top partly private lender by assets.

Exposure brings State-owned banks under scrutiny

Although Vietcombank and Vietinbank have already made initial public offerings and listed shares on the stock exchange, the nominally ‘joint-stock’ banks continue to be substantially State-owned. The central bank decision aims to gauge the progress of these banks to reorganise under a corporate model, as well as evaluate the role of State capital representatives in the management of the banks.

Bank shares help boost trades

Banks now have until December 31, 2011, to register charter capital of at least VND3 trillion (US$141.7 million). Eximbank (EIB), Vietinbank (CTG), Vietcombank (VCB), Ha Noi Housing Bank (HBB) and Sai Gon-Ha Noi Bank (SHB) all jumped to their ceiling prices, while Asia Commercial Bank (ACB) rose by 6.2 per cent and Sacombank (STB) gained 4.3 per cent. HBB, with over 16 million shares sold, and STB, with nearly 15 million, were also the two most-active shares nationwide.

Three banks promise loans for energy-saving projects

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Development Bank (VDB) made the announcement at a seminar in HCM City.


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