綠色BN
2015-07-15

Banking News This Week – Jul 15

The top 5 banking news stories in emerging markets this week.
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1 – Citibank seeks go-ahead to boost Vietnam presence
Citibank NA, a unit of Citigroup Inc (C.N), said it will get the go-ahead soon from Vietnam’s central bank to set up a subsidiary in the country, which would make it the seventh wholly foreign-owned lender to operate in Vietnam. >>

2 – Siam Commercial Bank to open branch in Vietnam
Thailand’s Siam Commercial Bank (SCB) is allowed to establish its branch in Vietnam. The Prime Minister has approved the State Bank of Vietnam (SBV)’s proposal to let SCB establish its Vietnam branch on the acquisition of VinaSiam Bank (VSB). >>

3 – Vietnam bans banks with high bad debts from expanding
Commercial banks in Vietnam are not allowed to expand their networks until they can keep bad debts under 3 percent of total outstanding loans, a new rule indicative of the government’s increased resolve to address its toxic debt problem. >>

4 – Two African business giants go head-to-head over mobile telecoms and payments
Few firms have done more in recent years to boost Africa’s fortunes than Safaricom. It has built the world’s most widely used mobile-money network, called M-Pesa, bringing financial services to the poorest. >>

5 – Investing in Women is Vital to Ending Poverty, Boosting Needed Growth
Closing persistent gender gaps is vital to boosting sustainable growth and ending poverty by 2030, World Bank Group President Jim Yong Kim said Tuesday, calling for scaled-up efforts to expand women’s access to good jobs, assets, and infrastructure. >>


  By April Wu 
  China Market Strategy

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