Vietnam’s banking sector has needed a reboot for some time. Impacted by bad debt, corruption and lax regulation, banks have not reached their potential. In response to the multiple problems, Vietnam is implementing a development strategy to strengthen the sector. The pressure is on banks to comply with new regulations, such as adhering to Basel II capital standards, but banks along with rating agencies generally have an upbeat view of Vietnam banking’s future.
Asia Commercial Bank
Vietnam’s Asia Commercial Bank is enjoying a turn-around that most financial institutions would gladly embrace, posting one of its best performance years in 2016. The private bank’s success may lie in its practice of setting ambitious goals and objectives, then following through by using its competitive advantages to achieve them, providing the personal but innovative service that its varied customers demand.