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”
Category Archives: Finance
Vietnam’s banks stick with bullish 2020 target despite coronavirus
Advertisements Major banks in Vietnam are still expecting to report growth in the first quarter and for the rest of 2020 despite the disruptions caused by the coronavirus (COVID-19) pandemic. According to estimates from Saigon Securities Incorporation (SSI)’s research division, Vietnam International Bank (VIB) was expected to lead in terms of pre-tax profit growth inContinue reading “Vietnam’s banks stick with bullish 2020 target despite coronavirus”
VN-Index drops after six gaining sessions
Advertisements The VN-Index plummeted 3.54 percent to 766.84 points Tuesday, undoing almost all of its gains in the previous six gaining sessions. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, bled red with 312 tickers losing and just 56 gaining. Of these, 59 tickers fell to their floor price, theContinue reading “VN-Index drops after six gaining sessions”
VN-Index gaining streak lasts sixth straight session
Advertisements The VN-Index rose 0.68 percent to 794.97 points Monday, with oil and gas sector stocks proving some of the best performers. 212 stocks gained and 154 lost on the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which the VN-Index is based. Total trading volume, which includes order-matched and put-through transactions, fellContinue reading “VN-Index gaining streak lasts sixth straight session”
Vietnamese Banks’ Rating Outlooks Lowered on Coronavirus Impact
Advertisements Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDRs) of two State-owned banks and a wholly foreign-owned bank in Vietnam to Stable from Positive, and the outlooks for two joint stock commercial banks to Negative from Stable. The affected banks include VietinBank (IDR: ‘BB-‘; Outlook revised to Stable from Positive; ViabilityContinue reading “Vietnamese Banks’ Rating Outlooks Lowered on Coronavirus Impact”
Fitch Revises Outlook on ANZ Vietnam to Stable from Positive
Advertisements Fitch Ratings has revised the Outlook on ANZ Bank (Vietnam) Limited’s (ANZV) Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable, from Positive, and affirmed the rating at ‘BB’. This follows the 8 April 2020 Outlook revision on Vietnam’s IDR to Stable, from Positive, due to the impact of the escalating global coronavirus pandemic onContinue reading “Fitch Revises Outlook on ANZ Vietnam to Stable from Positive”
Fitch Ratings lowers outlook of Vietnamese banks amid the pandemic
Advertisements These actions stem from the sharply lower – albeit positive – growth that Vietnam faces from the Covid-19 pandemic and its potential to negatively affect the banks’ credit profiles in the near term, at least. The IDRs of all five banks were affirmed at existing levels as Fitch expects a firm economic recovery inContinue reading “Fitch Ratings lowers outlook of Vietnamese banks amid the pandemic”
SeABank aims to increase profit by more than 8% in 2020
Advertisements Vietnam’s SeABank aims to achieve a profit before tax of VND 1,506 billion by 2020, an increase of 8.3% compared to the previous year. Total assets are expected to increase by 12%, reaching VND 175,600 billion, credit outstanding loans increase by 13.6%. According to information from the 2019 annual report, in 2020, SeABank aimsContinue reading “SeABank aims to increase profit by more than 8% in 2020”
VN-Index experiences 4th straight gaining session
Advertisements The VN-Index added 3.48 points, or 0.45 percent to close Thursday at 780.70 points, with Vietjet Air and Sabeco shares carrying the day. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 185 stocks gain and 172 lose. Total trading volume plunged nearly 15 percent over the previous sessionContinue reading “VN-Index experiences 4th straight gaining session”
Asia stock market set to tumble as investors fear worst recession since 1930s
Advertisements Asian stocks look set to tumble on Thursday, as fears that the world is in its worst recession since the 1930s were heightened by data showing U.S. retailers suffered a record sales collapse in March due to the coronavirus outbreak. E-Mini future for the S&P 500 ESc1 fell 0.76% while Nikkei futures NKc1 pointedContinue reading “Asia stock market set to tumble as investors fear worst recession since 1930s”
Vietnam’s stock market is now reviving
Advertisements Vietnam’s stock market, which in March tumbled the most since 2001, is now reviving. The benchmark VN Index has rebounded 15% in April, becoming the world’s best performer, data compiled by Bloomberg show. That follows last month’s 25% slump on concern about the coronavirus impact. The gauge, which has been in a bear marketContinue reading “Vietnam’s stock market is now reviving”
Rethinking globalization after coronavirus pandemic
Advertisements Banking became Balkanized after the financial crisis; expect the same fate for manufacturing Globalization has brought many benefits, lifting millions out of poverty in emerging markets and bringing down prices of consumer goods in the developed markets. But if it was creaking after the financial crisis, and under more strain with the rise ofContinue reading “Rethinking globalization after coronavirus pandemic”
Many banks sell mortgaged assets to recover bad debts
Advertisements Many banks in HCM City are selling their mortgaged assets, mainly properties worth trillions of Vietnamese đồng, to speed up the resolution of bad debts. The Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV) has announced the sale of properties such as the Kenton property in Nhà Bè District to recover debts. The SàiContinue reading “Many banks sell mortgaged assets to recover bad debts”
Vietnam aims to disburse $30 billion in public investment funds this year
Advertisements Vietnam will aim to disburse $30 billion in public investment funds this year, up 67% year-on-year, the government said on Friday, as it seeks to boost an economy hit hard by the coronavirus outbreak that has infected 255 people nationally. Public investment, excluding investment made by state-owned enterprises, often accounts for around one-fifth ofContinue reading “Vietnam aims to disburse $30 billion in public investment funds this year”
Covid-19: short-term blow, long-term opportunity for Vietnam
Advertisements Vietnam has been comparatively successful in containing the coronavirus’s spread thus far. Though a reliance on the globalised tourism and manufacturing sectors means it will take a sizeable economic hit regardless, its economy looks poised to benefit longer term, in a continuation of trends sparked by neighbour China’s trade war with the US. AccordingContinue reading “Covid-19: short-term blow, long-term opportunity for Vietnam”