Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.

Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.

One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.

Vietcombank, Vietnam`s largest lender by market value, will offload a 10% stake to a maximum of ten foreign investors in the first half of this year after it received government approval for the sale, it announced at its recent annual shareholders` meeting.

E-commerce transactions will be required to make payment via banks or authorized payment intermediary services compulsorily.

After years of delays, many commercial banks have so far announced to speed up their listing plans to capitalize on the improvement of the stock market.

The International Finance Corporation (IFC), the private lending arm of the World Bank Group, has proposed to extend a financing facility of up to US$100 million to Vietnamese lender TPBank, said a recent report by DealStreetAsia.

Last year, Vietnam is ranked 10th among top countries receiving the largest amount in remittances with US$13.8 billion, equivalent to 6.4% of GDP, according to World Bank`s latest Migration and Remittances report.

SHB posted profit at VND502 billion (US$22 million) in the first quarter, making it feasible for the lender to reach its pre-tax profit target of VND2 trillion (US$87.7 million) in 2018.

The Prime Minister Nguyen Xuan Phuc has approved Decision No. 437 on the government`s borrowing of VND384 trillion (US$16.8 billion) and paying VND256.7 trillion (US$11.2 billion) in debt.

Saigon Securities Incorporation (SSI) set brokerage market share at around 17 - 18%, said the company at its annual general meeting on April 20.

VPBank`s pre-tax profit is posted at VND2.6 trillion (US$114.2 million) in the first quarter, up 36% year on year, according to the bank`s consolidated financial report.

Vietcombank`s pre-tax profit set a new height at VND4.3 trillion (US$189 million) in the first quarter, up 59% year on year, according to the bank`s consolidated financial report.

In 2018, MB Securities (MBS) set its profit at VND160 billion (US$7 million), 6.6 times higher than that of in 2017, while its revenue is expected to reach VND881 billion (US$38.5 million), up 4% compared to previous year.

HDBank has announced that its shareholders have approved a plan to merge with unlisted PGBank in a share-swap deal on April 20.

Big profits gained from consumer lending of some banks are helping the segment attract new entrants, however, some others are still out of this wave or have even withdrawn from the game due to concerns about the risks.

Vietcombank set its pre-tax profit at VND13 trillion (US$570 million) in 2018, up 14.6% compared to 2017, stated the bank`s document in prepared for its annual general meeting.

SHB set pre-tax profit target of VND2 trillion (US$87.9 million), up 6.5% compared to 2017, said the bank`s document in prepared for the annual general meeting.

In 2018, Vietinbank set its pre-tax profit at VND10.8 trillion (US$474.6 million), up 17.3% year on year, stated the bank`s annual report.

Prime Minister Nguyen Xuan Phuc tasked relevant ministries to rapidly improve the logistics industry as high logistics costs have become a major barrier for businesses and reduced the competitiveness of the national economy.

Prime Minister Nguyen Xuan Phuc has recently issued Directive No. 10/CT-TTg, tightening the management of activities related to Bitcoin and other virtual currencies.

HSBC Vietnam posted its pre-tax profit at VND2.2 trillion (US$96.7 million) in 2017, increasing 24% compared to 2016, informed the bank`s summarized 2017 financial report.

The MB Bank announced its quarterly financial report on April 14 with pre-tax profit at VND1.74 trillion (US$76.6 million), up 65% year on year.