Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) signed memorandum of understanding (MOU) to extend its collaboration with Edexcel - the largest awarding education organization in the United Kingdom (UK). Edexcel will draw upon its experience, pedigree and expertise in academic and vocational education and training to help Sacombank implement a world-class training and development curriculum across key functions within the organizations
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) obtained approval from the Hochiminh City Stock Exchange (HOSE) to buy-back 25 billion shares (equivalent to 5% of its charter capital). From 18 November to 18 December 2008, the buy-back will be executed by order matching or negotiation through Sacombank Securities Company (Sacombank-SBS).
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) signed memoranda of understanding (MOUs) to extend its collaboration with three strategic partners of the Sacombank Financial Group. The partners are Hoang Anh Gia Lai Joint Stock Company (HAGL), Dongtam Joint Stock Corporation (Dongtam), and Truong Hai Auto Joint Stock Company (Thaco). The MOU included elements of capital support.
18 commercial banks recently met and discussed through Vietnam Banks Association (VNBA) to re-assess the current interest rates and future actions. The meeting was held one week after the State Bank of Vietnam released a series of support policies whereby both lending and deposit rates were adjusted. According to the report of SBV, the available capital of credit institutions up to the end of October was about 50 trillion dong. The amount added to 20.3 trillion of compulsory T-bills (that banks previously purchased from SBV) will be paid pre-maturely, the coming mature of bonds, a surge in capital mobilisation.