VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

Commercial banks are seeking to issue bonds to raise long-term capital while adhering to capital safety regulations set by the central bank.

The Asian Development Bank (ADB) and Lien Viet Post Joint Stock Commercial Bank (LPBank) on June 12 signed a financing package of up to 80 million USD to expand access to finance for a women-owned small and medium-sized enterprises (WSMEs) project in Vietnam.

Commercial banks have spent trillions of Vietnam dong to buy back bonds before maturity in the last months of this year.

Many domestic banks have reported positive growth in profit in the third quarter and the first nine months of 2023 even amid the slow credit expansion and a downturn trend in profit of the whole banking sector.