Advertisements Transaction values via smartphones increased by 177% in the first half of 2020. Concerns over Covid-19 and mobility restrictions have prompted the use of cashless payments in Vietnam, according to local insiders and providers. Statistics from Shopee, the leading e-commerce platform in terms of visitors in Vietnam, showed that the number of users ofContinue reading “Cashless payments increase in Vietnam amid pandemic”
Category Archives: Finance
Housing prices remain high due to limited supply: report
Advertisements With developers struggling to get licenses for new projects, housing prices could rise by up to 10 percent this year, according to a report by brokerage SSI Securities Corporation. The report expected the increase to be 7-10 percent in Ho Chi Minh City and 2-3 percent in Hanoi as the licensing hassles hit supplyContinue reading “Housing prices remain high due to limited supply: report”
Overseas remittances are expected to fall due to Covid-19
Advertisements Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s HCM City Branch, said in the first seven months of the year total remittances to theContinue reading “Overseas remittances are expected to fall due to Covid-19”
Happiness and online loans in APAC have strong direct correlation of 0.6
Advertisements Studying the impact of online consumer lending on the happiness of the population in Asia Pacific (APAC), analysts of Robocash Group found a strong direct correlation between them. In other words, happier countries see higher popularity of online loans. At the same time, access to online lending helps people feel happier. To show theContinue reading “Happiness and online loans in APAC have strong direct correlation of 0.6”
Who is Jens Lottner, the new CEO of Vietnam’s Techcombank?
Advertisements Vietnam Technological and Commercial Joint Stock Bank (Techcombank) announced the appointment of Jens Lottner as Chief Executive Officer (CEO), effective August 18, 2020. Lottner brings more than 28 years of experience in financial services with leading organisations such as McKinsey and BCG, and has spent more than two-thirds of his career in Asia. HeContinue reading “Who is Jens Lottner, the new CEO of Vietnam’s Techcombank?”
Deutsche Bank Vietnam, Techcombank appoint new CEOs
Advertisements Deutsche Bank Vietnam and Techcombank have appointed a Vietnamese and a foreigner respectively as their new CEOs. The Vietnamese subsidiary of Deutsche Bank has appointed Huynh Buu Quang, former CEO of Maritime Bank (MSB), as its acting CEO. The German bank is awaiting approval from the State Bank of Vietnam to finalize the appointment.Continue reading “Deutsche Bank Vietnam, Techcombank appoint new CEOs”
Deutsche Bank names Huynh Buu Quang as its Chief Country Officer Vietnam
Advertisements Deutsche Bank has a long track record in providing corporate finance and advisory solutions to Vietnamese corporates. Deutsche Bank today announced the appointment of Vietnamese banker, Huynh Buu Quang, as Acting Chief Country Officer (CCO) Vietnam. The appointment is subject to State Bank of Vietnam final approval, according to the bank’s statement. Quang hasContinue reading “Deutsche Bank names Huynh Buu Quang as its Chief Country Officer Vietnam”
Local gold prices drop
Advertisements Local gold prices fell after the weekend and as of 10am on Monday, the prices had fallen to VNĐ55.45 million (US$2,403) per tael. Compared to the end of last week, the prices decreased by between VNĐ500,000 and VNĐ700,000 per tael. The Saigon Gold and Jewelry Company rated each tael of SJC gold at VNĐ53.8Continue reading “Local gold prices drop”
JCB and Mcredit join-hands to promote cashless payment in Vietnam
Advertisements MB SHINSEI Finance Limited Liability Company (Mcredit) – one of the leading consumer finance companies in Vietnam and JCB International Co, Ltd. (JCBI) – the international operations subsidiary of JCB Co., Ltd., announced the launch of the Mcredit JCB Credit Card. The new Mcredit JCB Credit Card is the very first JCB card launchedContinue reading “JCB and Mcredit join-hands to promote cashless payment in Vietnam”
Eximbank’s transaction office exposed to COVID-19 patient resumes operation
Advertisements A transaction office of lender Eximbank in Ho Chi Minh City has been allowed to reopen from Wednesday morning, ahead of its previously announced 14-day suspension due to a coronavirus patient’s visit. The Vietnam Export Import Bank (Eximbank) announced on August 3 it was suspending a transaction office located at 373 Su Van HanhContinue reading “Eximbank’s transaction office exposed to COVID-19 patient resumes operation”
CIMB Bank Vietnam and Toss: Effective partnership model is key for a successful Bank – Fintech collaboration
Advertisements Bank – Fintech is a desirable high-tech relationship in the finance & banking industry nowadays. The current pandemic is likely to drive deeper relationships between incumbent banks and startups for a digitally-empowered future. Banks and FinTech companies partnering up yields the best from both worlds — boosting the industry with new innovative services fromContinue reading “CIMB Bank Vietnam and Toss: Effective partnership model is key for a successful Bank – Fintech collaboration”
Vietnam sees the first foreign bank to issue bonds in the country
Advertisements HSBC issued VND600 billion ($25.7 million) worth of bonds on Monday, becoming the first foreign bank to do so in Vietnam. The bonds have a coupon rate of 5.8 percent and a tenor of three years. The lender said the issuance was oversubscribed. “We plan to be a regular issuer as we look toContinue reading “Vietnam sees the first foreign bank to issue bonds in the country”
Landlords in HCMC lower rents due to the second wave of Covid-19
Advertisements Ho Chi Minh City landlords have been forced to lower rents further with the second wave of Covid-19 hitting demand. Minh in District 1 has so far lowered the rents for her two apartments by 30 percent to $900 a month each. They used to be rented by foreigners for $1,300, but she hadContinue reading “Landlords in HCMC lower rents due to the second wave of Covid-19”
Vietnamese banks continues lowering deposit rates
Advertisements Many large commercial banks have continued lowering deposit rates for various tenors aimed at reducing lending rates to support businesses and residents affected by the coronavirus pandemic in line with the directives of the prime minister and the State Bank of Vietnam. The Bank for Foreign Trade of Vietnam (Vietcombank) has cut the depositContinue reading “Vietnamese banks continues lowering deposit rates”
Gold prices in Vietnam hit an all-time high
Advertisements Gold prices in Vietnam climbed to a new peak, as global rates hit an all-time high. State-owned Saigon Jewelry Company sold its popular SJC gold at VND60.7 million ($2,628) per tael of 37.5 grams (1.2 ounces) on Thursday morning, up 2.88 percent from Wednesday. Major jewelry company DOJI sold at VND60.3 million ($2,611). TheContinue reading “Gold prices in Vietnam hit an all-time high”