Even though business activities were disrupted nationwide for many months in 2021, due to social distancing orders to prevent the outbreak of COVID-19, the number of successful merger and acquisition (MA) deals rose compared to 2020.
VPBank on Thursday announced the completion of its deal to sell a 49 per cent stake in its FE Credit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction.
According to VnDirect Securities Company, in May small private banks hiked deposit interest rates by
3-4 per cent but not large ones.
It took until June for the race to begin in earnest and the rest to join.
Vietcombank, the country’s largest lender, increased interest rates on deposits of less than 12 months by 0.2 percentage points, which brought them, until then the lowest in the industry, on par with those offered by other state-owned banks.
Analysts said since June COVID-19 vaccination programmes have been undertaken nation-wide, bringing hope that the pandemic would soon be controlled and economic activities would recover, which would increase demand for credit.