Advertisements Some 30,000 – 35,000 apartments are expected to launched officially in Ho Chi Minh City this year, mainly contributed by Vinhomes Grand Park project, said the real estate services provider JLL Vietnam. HCM City’s real estate market, especially apartment segment would continue to fall into hardship during 2020 due to tight credit into realContinue reading “High uncertainties remain for HCMC apartment market”
Category Archives: Finance
HSBC has pulled out of Vinh Tan 3 coal power in Vietnam
Advertisements The London-headquartered bank’s cancellation of its role as financial advisor for the 1,980-megawatt Vinh Tan 3 coal power plant in Vietnam marks the latest move by a major international lender to ease off on bankrolling the fossil fuel in Asia. One of the world’s largest finance groups, HSBC, has pulled out of a majorContinue reading “HSBC has pulled out of Vinh Tan 3 coal power in Vietnam”
Vietnam is not like most investment destinations these days?
Advertisements On the upside, Vietnam has escaped both the growth slowdown and the political upheaval that have bedeviled many other emerging markets. Gross-domestic-product expansion held steady at 7% last year, driven by dynamics internal—a million Vietnamese a year are moving from villages to cities—and external: multinational manufacturers relocating from a besieged China. The nation ofContinue reading “Vietnam is not like most investment destinations these days?”
ADB to finance Gulf Solar Power Project in Vietnam
Advertisements The Asian Development Bank (ADB) just signed a $37.8 million loan deal with TTC Energy Development Investment Joint Stock Company (TTC Energy) to provide long-term financing to develop and operate a 50-megawatt (MW) photovoltaic solar power plant in Tay Ninh Province in Viet Nam. ADB’s assistance for the Gulf Solar Power Project was providedContinue reading “ADB to finance Gulf Solar Power Project in Vietnam”
Banking systems experience intense Tet surge
Advertisements Banks, ATMs, and online banking systems have been overloaded towards the end of the Lunar New Year, forcing customers to wait long hours. Hoa went to a major bank on Hanoi’s Duy Tan Street early one recent afternoon to process payment of a loan. She was happy to notice that her turn would comeContinue reading “Banking systems experience intense Tet surge”
Mekong Capital adds Nguyen Thi Minh Giang as its new partner, strengthens leadership
Advertisements Nguyen Thi Minh Giang joined Mekong Capital in 2010 as an HR Officer, continuously took on greater and greater levels of accountability, and ultimately becoming Mekong Capital’s first Partner of Talent and Culture. Giang has played a critical role in leading Mekong Capital’s Talent and Culture team to recruit senior leaders for our formerContinue reading “Mekong Capital adds Nguyen Thi Minh Giang as its new partner, strengthens leadership”
Vietnam’s banks to complete shift to chip cards in 2 years
Advertisements Vietnam’s banks started replacing magnetic cards with chip cards some years ago, but the process has been going slowly. Speaking at a forum on developing e-payment ecosystem development held in late 2019, Deputy Prime Minister Vu Duc Dam said the Party’s Politburo released a resolution on the 4.0 industry revolution. The government also releasedContinue reading “Vietnam’s banks to complete shift to chip cards in 2 years”
Vietnam stocks hit highest close in two months
Advertisements SE Asia Stocks-Most tepid amid virus outbreak; Malaysia stumbles on c.bank warning. Vietnam stocks hit their highest close in over two months, with heavyweights Vinhomes JSC and Joint Stock Commercial Bank for Investment and Development of Vietnam ending 2.2% and 2.8% firmer, respectively. Most Southeast Asian markets were subdued on Wednesday ahead of aContinue reading “Vietnam stocks hit highest close in two months”
Vietnam’s VPBank: 2019 profit before tax reached VND10,334 billion, up 12.3% YoY
Advertisements Vietnam Prosperity Joint Stock Commercial Bank (VPBank) just announced its record consolidated profit before tax of VND10,334 billion for 2019, exceeding the target by 9% and up 12.3% year over year. VPBank has officially entered the VND10 trillion profit banking club. The pre-tax profit of the bank was VND5,835 billion, accounting for nearly 57%Continue reading “Vietnam’s VPBank: 2019 profit before tax reached VND10,334 billion, up 12.3% YoY”
Vietnam’s Techcombank FY2019 profit before tax rocketed to VND12.8 trillion
Advertisements In 2019, Vietnam’s Techcombank earned pre-tax profit of VNĐ12.8 trillion (US$550.7 million) and revenue of VNĐ21.1 trillion, marking increases of 31.5 per cent and 24.7 per cent year on year, respectively. In its latest report, Techcombank said net interest income reached VNĐ14.3 trillion, up 25.2 per cent year on year. Meanwhile, non-interest income roseContinue reading “Vietnam’s Techcombank FY2019 profit before tax rocketed to VND12.8 trillion”
SE Asia Stocks-Singapore drops on China virus scare, Philippines extends losses
Advertisements Singapore’s benchmark index fell on Tuesday, tracking broader Asian markets, as a virus outbreak in China took a toll on risk appetite, while Philippines was hit by losses in the financial sector. With millions travelling on Tuesday for the Lunar New Year holiday, authorities in China confirmed the virus could spread through human contact,Continue reading “SE Asia Stocks-Singapore drops on China virus scare, Philippines extends losses”
VN-Index made a three-day-winning streak
Advertisements Vietnam’s stock market made a three-day-winning streak, surpassing 970 points on January 16 as the global stock market rallied after the US and China signed the first stage of the trade agreement and committed to staving off tariff disputes. The market made a positive increase thanks to the breakthrough of banking stocks with CTGContinue reading “VN-Index made a three-day-winning streak”
VN-Index exceeds 970 points as bank stocks gain
Advertisements Strong bank stock gains drove VN-Index up 0.7 percent to 974.31 points Thursday after remaining below 970 points since December. 174 stocks lost while 154 gained on main bourse Ho Chi Minh City Stock Exchange (HoSE), on which VN-Index is based. Order-matched transactions surged 34 percent from the previous session to VND2.66 trillion ($114.92Continue reading “VN-Index exceeds 970 points as bank stocks gain”
IFC finances US$212.5 million to Vietnam’s VPBank
Advertisements Financing package from multiple sources to help Vietnam’s VPBank expands lending to SMEs and boost financing, especially for climate-friendly projects. The International Finance Corporation (IFC), a member of the World Bank Group, will provide a financing package of US$212.5 million to the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to help it expand itsContinue reading “IFC finances US$212.5 million to Vietnam’s VPBank”
HSBC appoints its new head of international subsidiary banking in Vietnam
Advertisements HSBC has appointed Joonsuk Park as its head of International Subsidiary Banking of Wholesale Banking in Vietnam. Prior to this, Park was head of Multinational Corporates (MNCs) at HSBC Korea. According to a statement released on January 14, this is part of HSBC’s strategy to actively support multinational companies, especially Korean corporations that areContinue reading “HSBC appoints its new head of international subsidiary banking in Vietnam”