Advertisements The VN-Index slumped 0.65 percent to 827.03 points Friday, after nudging down by less than 0.3 percent in the previous two sessions. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 248 stocks lose and just 100 gain on the last day of the trading week. Trading volume fellContinue reading “VN-Index slumped for third straight session”
Category Archives: Finance
Vietnam exports hundreds of millions of face masks abroad
Advertisements Hundreds of millions of made-in-Vietnam face masks have been exported abroad, showing an upsurge in the operation and production capacity of Vietnamese garment and textile sector at a time when the country’s economy is struggling to overcome the impacts of the COVID-19 outbreak. However, there are still many things to do to facilitate theContinue reading “Vietnam exports hundreds of millions of face masks abroad”
State Bank of Vietnam to cut policy rates from Wednesday to boost growth
Advertisements The Vietnam’s Central Bank announced a reduction in its policy rates, making a second cut in less than two months to help the economy weather the impact of the coronavirus pandemic. With just 288 infections and no deaths, the Southeast Asian nation has seen no community infections for nearly a month, putting it onContinue reading “State Bank of Vietnam to cut policy rates from Wednesday to boost growth”
Central bank lower annual interest rates
Advertisements The State Bank of Viet Nam has decided to lower annual interest rates by 0.5%, applicable since May 13. Specifically, refinancing and discount rates were reduced from 5% and 3.5% down to 4.5% and 3%, respectively, while overnight electronic interbank rate was slashed to 5.5% from 6%. The rate for financial instruments traded underContinue reading “Central bank lower annual interest rates”
Vietnam’s stocks jumped on Friday thanks to good news about economic recovery
Advertisements Vietnamese stocks jumped 2% on Friday on news that the Southeast Asian country was on course to revive its economy much sooner than most others, while Philippines was weighed down by telecom companies. Hanoi claimed it was successful in containing the virus as it reported a relatively small 288 cases and zero deaths. ItContinue reading “Vietnam’s stocks jumped on Friday thanks to good news about economic recovery”
Five banks listed in Vietnam’s top 10 most profitable companies
Advertisements Vietnam’s top 10 most profitable listed companies, half of them banks, posted VND37 trillion ($1.6 billion) in pretax profits in the first quarter. Vinhomes became the most profitable listed company with VND10.1 trillion ($428 million) in pretax profit, up 200 percent year-on-year. The surge came as the company’s revenue from financing activities tripled toContinue reading “Five banks listed in Vietnam’s top 10 most profitable companies”
Vietnam may prosper again after easing social distancing measures
Advertisements The World Bank (WB) has issued an update on Vietnam’s macro-economy for May, in which it said the economy may prosper again after social distancing measures were eased nationwide on April 23. The WB noted that after posting GDP growth of 3.8 percent in the first quarter of this year, Vietnam’s economy then showedContinue reading “Vietnam may prosper again after easing social distancing measures”
Vietnam may avert a recession this year as the country gets back to work
Advertisements Vietnam may be able to avert a recession this year as the country gets back to work and school after early coronavirus containment measures, an economist said on Monday. “They are not going to be immune to the slowdown of external global demand … But we don’t expect them to fall into a recessionContinue reading “Vietnam may avert a recession this year as the country gets back to work”
Vietnam’s Techcombank internet banking down again as customers struggle to log in
Advertisements Techcombank system went down again yesterday morning with many customers unable to login to their online banking or to the mobile app for hours. “Anyone else unable to log into the Techcombank app? I keep getting the same message when I try logging in. I know they were doing maintenance on the app butContinue reading “Vietnam’s Techcombank internet banking down again as customers struggle to log in”
Covid Quarantine winners. Investing after the pandemic
Advertisements So what should we be looking for? Certain areas will fair much better as the pandemic benefits goods and services for the “stay at home” culture we are currently experiencing. It is clear that once the world starts opening up again there will be a change in the ways that businesses run themselves. InContinue reading “Covid Quarantine winners. Investing after the pandemic”
Techcombank first-quarter earnings beat forecasts as profit before tax up 19.2 percent YoY
Advertisements Vietnam Technological and Commercial Bank (Techcombank) delivered a record profit before tax (PBT) of VND3.1 trillion (US$132.09 million) in the first quarter of 2020, up 19.2 percent year-on-year, on total operating income (TOI) of VND6 trillion ($255.53 million), up 37.3 percent year-on-year, extending the streak to 18 quarters of year-on-year revenue growth amid aContinue reading “Techcombank first-quarter earnings beat forecasts as profit before tax up 19.2 percent YoY”
Vietnam’s HDBank profits increase by 13.5% in Q1 2020
Advertisements The HCM City Development Bank (HOSE: HDB) has released its financial statements for the first quarter showing a total consolidated operating income that increased by 27.8 percent year-on-year to VND3.15 trillion (US$134.4 million) and pre-tax profit that increased by 13.5 percent was VND1.25 trillion ($53.4 million). It had total consolidated assets of VND231.8 trillionContinue reading “Vietnam’s HDBank profits increase by 13.5% in Q1 2020”
Vietnamese borrow most often for household appliances in 2019
Advertisements Online lending and micro-finance have become a multipurpose solution for customers in Asia. These are the findings of an online survey conducted by Robocash Group in the region earlier this year. Often borrowing with different needs in mind, men and women in Vietnam still put the purchase of household appliances and electronics first. AtContinue reading “Vietnamese borrow most often for household appliances in 2019”
Vietnam stocks jump as social distancing eased
Advertisements Local shares extended their gains today, April 23, as the Government agreed a day earlier to relax social distancing measures in the nation’s two biggest cities, HCMC and Hanoi, fueling hopes that the economy hit hard by the Covid-19 pandemic would recover in coming months. On the Hochiminh Stock Exchange, the VN-Index added 4.99Continue reading “Vietnam stocks jump as social distancing eased”
ACB’s Q1 performance: Balance sheet numbers reflect strong asset quality
Advertisements Asia Commercial Bank (ACB) released inline results for Q1 2020 with NPAT-MI of VND1.5tn (USD66mn, +12.5% YoY), completing 22.1% of VCSC’s full-year forecast. Annualized Q1 2020 ROA and ROE stood at 1.6% and 21.5%, respectively. According to a report from VietCapital Securities (VCSC)’s research division, NIM of the bank increased by 9 bps toContinue reading “ACB’s Q1 performance: Balance sheet numbers reflect strong asset quality”