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”
Category Archives: Finance
Vietnamese Central Bank denies manipulating currency
Advertisements Vietnam has denied using exchange rates and monetary policy to facilitate export after the country was put on a U.S. watch list of currency manipulators. “The State Bank of Vietnam has never used exchange rates to compete with trade partners and never purposely intervened in monetary policy to help with exports,” the central bankContinue reading “Vietnamese Central Bank denies manipulating currency”
Vietnamese stock market appeals to foreign investors
Advertisements The prospect of the Vietnamese stock market this year will be brighter, with profits of listed firms in 2020 likely to increase by 18% against 2019 while the VN-Index may rise by 20.7%. The robust growth of the Vietnamese stock market has continued to help it become more attractive to foreign investors, who pouredContinue reading “Vietnamese stock market appeals to foreign investors”
8 key trends that will dominate banking tech in 2020
Advertisements As a new decade begins, one of the major unresolved issues of the previous few years continues to haunt banks — when and how Big Tech will jump into financial services in a significant way. While Facebook has launched its Libra digital currency project and Google has begun partnering with Citigroup on checking accounts,Continue reading “8 key trends that will dominate banking tech in 2020”
Marketing Trends for Banking Industry in 2020
Advertisements Marketing offers a powerful and effective way to tell our story, connect with customers, and provide solutions to answer concerns and fuel their goals. That said, marketing can also be overwhelming; there’s simply so much to understand and seemingly even more to do. Marketers at banks and financial institutions in Vietnam or anywhere inContinue reading “Marketing Trends for Banking Industry in 2020”
Vietnam’s Gen X and Baby Boomers are rapidly catching up with fintech
Advertisements Amid the overall digitization and growing penetration of online services in Asia, the daily use of financial technologies by older generations is growing too. Studying the demand for online financing services in Asia in 2019, analysts of Robocash Group revealed a steady increase in the number of customers aged 41-50 and 51-60 years. InContinue reading “Vietnam’s Gen X and Baby Boomers are rapidly catching up with fintech”
Bank stocks trip VN-Index in losing session
Advertisements VN-Index fell 2.7 points, or 0.28 percent, to 965.84 points Monday, with all blue chips in the banking sector closing in red. 205 stocks lost and 123 gained on Ho Chi Minh Stock Exchange (HoSE), on which VN-Index is based. Order-matched transactions plunged to VND1.9 trillion ($82.23 million) from nearly VND3 trillion ($129.84 million)Continue reading “Bank stocks trip VN-Index in losing session”
Vietnam receives around US$16.7 billion of remittances last year
Advertisements According to statistics by the World Bank (WB), overseas remittances transferred to Vietnam are estimated at US$16.7 billion in 2019, an increase of 4.4 percent compared to that in 2018. The average remittance level in the period from 2016 to 2019 was 2.33 times higher than that of the period from 1999 to 2015Continue reading “Vietnam receives around US$16.7 billion of remittances last year”
Liquidity surges in VN-Index’s strong gaining session
Advertisements The VN-Index rose 8.39 points, or 0.87 percent, to 968.54 points Friday, with liquidity reaching its highest level in the past three weeks. The Ho Chi Minh Stock Exchange (HoSE), on which the index is based, saw a fairly balanced session with 163 stocks gaining and 162 losing. Order-matched transactions surged to nearly VND3Continue reading “Liquidity surges in VN-Index’s strong gaining session”
Vietnam’s steel industry went through a stormy year in 2019
Advertisements Vietnam’s steel industry went through a stormy year last year as imported products flooded into the country while both domestic consumption and export of steel declined heavily. Recently, cheap imported steel from China, India, Japan and Russia to Vietnam increased rapidly, causing manufacturing and trading activities of the domestic steel industry to face severalContinue reading “Vietnam’s steel industry went through a stormy year in 2019”
Gold prices in Vietnam soared to a six-year high
Advertisements Gold prices in Vietnam soared to a six-year high on Monday amid rising military tension between the U.S. and Iran. The country’s largest jewelry company DOJI sold its SJC gold at VND44.44 million ($1,924) per tael (1.2 ounces) on Monday morning, up 3.78 percent from Friday. Another giant Phu Nhuan Jewelry also raised itsContinue reading “Gold prices in Vietnam soared to a six-year high”
Vietnam’s OCB to sell 11% stake to Japanese investor
Advertisements Orient Commercial Joint Stock Bank seeks shareholders’ approval to sell 11% stake, equivalent to 86.86 million shares, to Japan’s Aozora Bank via private placement, it said in statement. The Vietnamese lender said it has completed issuing nearly 130 million shares to pay dividends and raise chartered capital to about $339.4 million. Since early 2019, OCBContinue reading “Vietnam’s OCB to sell 11% stake to Japanese investor”
Real estate remains attractive for foreign investors
Advertisements With $3.88bn invested, sector ranked second in FDI last year. Real estate drew in $3.88 billion of registered FDI capital in 2019, ranking second after processing and manufacturing and accounting for 10.2 per cent of the total. The Vietnam News Agency quoted the Ministry of Construction as reporting that the real estate market lastContinue reading “Real estate remains attractive for foreign investors”
Which were 2019’s most profitable stocks?
Advertisements Thirty stocks on Vietnamese market at least doubled in value last year, with most gainers being penny stocks. Nine are listed on the Ho Chi Minh Stock Exchange (HoSE), the country’s main bourse, while the remaining 21 are listed in Hanoi (HNX), where small and mid-cap stocks are listed. Construction and lighting fixtures manufacturerContinue reading “Which were 2019’s most profitable stocks?”
Finance industry rules Forbes Vietnam’s top 100
Advertisements Forbes Vietnam’s list of 100 largest public companies has seen the dominance of banks, with 22 representatives ranked. Six of the top 10 positions were occupied by commercial banks, including Vietcombank, BIDV, VietinBank, Techcombank, VPBank and MB Bank. The next prominently ranked industry groups by number were oil and gas, real estate and retail.Continue reading “Finance industry rules Forbes Vietnam’s top 100”