ABBank has received central bank approval to raise its charter capital by more than VNĐ6.1 trillion (US$232.1 million), paving the way for an increase to over VNĐ20 trillion ($761.2 million).
The State Bank of Vietnam wants to amend the current policy to increase flexibility and initiative in managing monetary and exchange rate policies in response to changes in domestic and international market conditions.
The upgrade reflects Việt Nam''s favourable medium-term growth outlook, underpinned by robust foreign direct investment (FDI) inflows, which Fitch Ratings expects will continue to drive sustained improvements in its structural credit metrics.
The State Bank of Viet Nam (SBV) and the State Treasury of Viet Nam have injected hundreds of trillions of Vietnamese đồng into the market through foreign currency purchases from commercial banks.
The Government plans to issue US dollar-denominated bonds in the domestic market to fund additional stimulus packages to foster the recovery of the economy.
The Vietnam Electricity Northern Power Corporation (EVNNPC) was recently assigned a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘BB’ with a stable outlook by Fitch Ratings.
Fitch Ratings has revised the outlook on Viet Nam''s long-term foreign-currency issuer default rating (IDR) to stable, from positive, and has affirmed the rating at ''BB''.
Fitch Ratings has assigned a first-time long-term foreign-currency issuer default rating (IDR) of ''BB'' and long-term local-currency IDR of ''BBB'' to ANZ Bank Vietnam Limited (ANZV).
From October 1 lenders including banks will not be allowed to provide medium- and long-term foreign currency loans to businesses to pay for imports. Many market observers said this is the State Bank of Viet Nam’s final step in its...