Sacombank BOD may be dismissed: lawyer

HCMC – Sacombank’s board of directors (BOD) may be dissolved to pave the way for BOD reelections if shareholders want so at a general meeting, lawyer Tran Phuong Bac at Luat Viet law firm said.

Cbank withdraws VND134.5 trillion via OMOs

The State Bank of Vietnam has withdrawn about VND134.5 trillion ($6.46 billion) that was pumped into the banking system for liquidity support during the pre-Tet period

Viet Capital Bank’s new chairperson appointed

Nguyen Thanh Phuong, a member of Viet Capital Bank’s board of directors, has been appointed the new chairperson of the bank

Breakfast @ Tuoitrenews – Feb. 20

A brief of some of the leading stories today on Vietnamese media

Weak bank identities kept confidential

HANOI – Tens of local credit institutions are classified as weak and disallowed for credit growth this year, said Deputy Governor Nguyen Dong Tien of the central bank, though declining to reveal the specific names of such banks.

Credit policies depress market

Shares plunged on Feb. 15 on both of the nation's stock exchanges following news that the central bank will not issue more favourable credit policies for the securities market.

Credit growth disallowed at certain banks

HCMC – The central State Bank of Vietnam has categorized local credit institutions into four groups with the last group disallowed for credit growth this year.

Cbank groups 4 credit growth caps for 2012

The State Bank of Vietnam has allocated the credit growth ceilings for 4 groups of banks in 2012

US dollar drops against dong

The US dollar has become weaker against the local currency as a number of commercial banks cut the exchange rate because of an oversupply of US dollars at home

Australia's ANZ bank to slash 1,000 jobs

ANZ Bank Monday announced it will slash about 1,000 jobs in response to a tougher global environment as profits are squeezed by higher funding costs and lower demand for financial services