Three female Vietnamese entrepreneurs have been named in the list of the Most Powerful Women Asia 2024 (MPW Asia) announced by US magazine Fortune.

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has been honoured as the “Best Company to Work for in Asia” for a fourth consecutive year and as the “Most Caring Company” at the 2024 HR Asia Awards given by HR Asia magazine with the theme "The Definitive Z Choice.”

Since the beginning of the year, numerous banks have launched attractive credit packages with low interest rates, some even as low as 0% per year, easing the financial burden for customers seeking additional capital, particularly during the time leading up to Tet (Lunar New Year holiday).

As the traditional Lunar New Year (Tet) festival is just around the corner, commercial banks are offering a wide range of promotional programmes and financial solutions to encourage cashless payment during the peak shopping season.

Outstanding loans to the real estate sector in the first half of 2023 surged by 17.4%, exceeding the 10.7% growth rate of the whole of 2022, according to data from the State Bank of Vietnam (SBV).

Total pre-tax profit of the top 25 largest listed banks in the second quarter of 2023 reached about 61.6 trillion VND (2.6 billion USD), down 3.1% over the same period last year, according to a report of VNDirect Securities Company.

Vietnamese private lender Sacombank has been named one of the “Best Companies to Work for in Asia” for the third straight year at the recent HR Asia Awards.

International credit rating agency Moody’s has recently adjusted the credit rating outlook of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) from "stable" to "positive".

Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.

A majority of banks expected their business results to continually improve in Q4 2022, helping them gain profit for the whole year.

Sacombank has been named among the country’s 50 best profitable companies in 2022 for a sixth consecutive year in the annual list compiled by Vietnam Report Joint Stock Company and VietnamNet.

Banks have been promoting a target of diversifying income sources to reduce dependence on credit.

Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Vietnam (SBV)'s policy on controlling credit growth in risky areas.

The group of State-owned banks has continued to maintain their leading position in terms of network coverage in the country’s banking industry.

In the run-up to Tet (Lunar New Year), the biggest traditional festival of Vietnam, the inflow of remittances sent by overseas Vietnamese to the homeland has been on the rise, fueled further by local banks’ preferential programmes.

HDBank, Sacombank, ABBANK, and VNG have won the ‘Best Companies to Work for in Asia 2021’ award from HR Asia, an authoritative regional publisher in the human resources industry.

Visa, one of the world’s leading electronic payment technology companies, announced that it has partnered with Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to deploy the inbound remittance transfer service through Visa Direct.

Sacombank has won two awards, the ‘Vietnam Domestic Trade Finance Bank of the Year’ and ‘Vietnam Domestic Technology and Operations Bank of the Year,’ from The Asian Banking and Finance magazine.

The bancassurance service offered by Sacombank and Dai-ichi Life Vietnam has won the 2021 award for Most Trusted Bancassurance Provider Vietnam from Finance Derivative, a financial and business analysis magazine published in the Netherlands.

The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 said it will cut lending rates in Vietnam dong for the fifth time.