Advertisements Vietnam’s container throughput surpassed Hong Kong’s in the first half of this year, possibly in part due to trade diversion amid the trade war between China and the US, reported the Chinese news site Caixin Global. According to the data from Hong Kong Maritime and Port Board, in the first half of 2019, HongContinue reading “Vietnam surpasses Hong Kong in port throughput”
Category Archives: Finance
Vietjet, Masan buy 77 pct of bonds issued by Viet Capital
Advertisements Budget airline Vietjet and food producer Masan have spent VND387 billion ($16.62 million) on the bonds issued by stock brokerage firm Viet Capital Securities. Vietjet paid VND350 billion ($15.03 million) and Masan VND37 billion ($1.59 million) for the bonds, which were issued this month. The remaining 23 percent of the bonds were purchased byContinue reading “Vietjet, Masan buy 77 pct of bonds issued by Viet Capital”
South Korea’s Hana Bank buys 15% stake in Vietnam’s BIDV
Advertisements South Korea’s Hana Bank has agreed to buy a 15% stake in the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) BID.HM for 1 trillion won ($850 million), its parent Hana Financial Group (086790.KS) said on Monday. According to a report by Ju-min Park and Khanh Vu on Reuters, BIDV, Vietnam’sContinue reading “South Korea’s Hana Bank buys 15% stake in Vietnam’s BIDV”
Vietnam bank rankings change as top banks get stronger
Advertisements The gap among commercial banks is wideneing with top-tier banks leaving others far behind. However, they are not problem-free. Eximbank finally organized a shareholders’ meeting after two failed attempts. However, with the presence of more than 94 percent of voting shareholders, 55 percent did not agree with the business plan submitted by the boardContinue reading “Vietnam bank rankings change as top banks get stronger”
Homeownership remains a dream for young
Advertisements Rising house prices have prevented many people from buying their own houses in big cities like Hanoi and HCM City. Phuc, a resident in Hanoi, said the total income of he and his wife was VND30m (USD1,300) but they still didn’t dare to take a mortgage to buy a house. Phuc has to supportContinue reading “Homeownership remains a dream for young”
Executive interview: Sanjay Chakrabarty and effective digitalization at OCB’s retail banking
Advertisements Digitalization and automation is a broad term that connotes the use of electronic means and ways to conduct banking. It encompasses products and services that customers can typically access without human intervention from the bank. From a user perspective, digitalization confers enormous benefits in the form of ease, speed and multiple means of accessContinue reading “Executive interview: Sanjay Chakrabarty and effective digitalization at OCB’s retail banking”
Things you need to know about the State of Banking in Vietnam
Advertisements Last August, the Vietnam Government approved the “Development Strategy of Vietnam Banking Sector to 2025 with Orientations to 2030”. A comprehensive plan to not only boost the independence and accountability of the country’s central bank, the State Bank of Vietnam (SBV), the strategy also sets out several key objectives to strengthen and increase theContinue reading “Things you need to know about the State of Banking in Vietnam”
VN-Index finishes the week on a positive note
Advertisements Vietnamese shares picked up on Friday as market sentiment turned positive again during the earnings season, following an official comment from a Fed official. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 0.64 per cent to close at 982.34 points. It recovered from the 0.66 per cent drop recorded on Thursday.Continue reading “VN-Index finishes the week on a positive note”
Vietnam most vulnerable to offline cyberattacks in Southeast Asia
Advertisements Vietnam suffered the most offline cyberattacks in all of Southeast Asia and the 30th most in the world in the second quarter of 2019, according a report by cybersecurity firm Kaspersky. Between April and June, Kaspersky detected around 100 million offline attacks in Vietnam, which affected nearly 60 percent of users in the country.Continue reading “Vietnam most vulnerable to offline cyberattacks in Southeast Asia”
Vietnamese banks stocks push shares up
Advertisements Vietnamese shares increased on Friday morning on the rally of bank stocks. The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.72 per cent to close at 983.12 points. Vietnam News Agency reports. The index dropped 0.66 per cent to close at 976.05 points on Thursday. More than 83.5 million shares wereContinue reading “Vietnamese banks stocks push shares up”
Money flows into corporate bonds
Advertisements Personal money appears to be shifting from stocks and bank deposits to corporate bonds. The Vietnamese financial market is now witnessing a corporate bond issuance boom with noteworthy characteristics. First, there are many large-scale bond issuance campaigns. VietinBank, for example, has decided to mobilize VND10 trillion worth of capital through bonds in 2019. Second,Continue reading “Money flows into corporate bonds”
Former chairman of top Vietnam bank dies in prison
Advertisements Tran Bac Ha, former chairman of BIDV, died while being held for alleged banking violations in Hanoi. Colonel Do Quang Mao, a senior official at the 105 Military Hospital, told VnExpress that Ha, 62, was brought dead to the hospital Thursday morning by staff members of a prison in Hanoi’s Ba Vi District. SinceContinue reading “Former chairman of top Vietnam bank dies in prison”
CIO interview: Tran Nhat Minh and digital transformation journey at VIB
Advertisements The financial services industry is going through dramatic changes as a consequence of changing customer behavior, increasing expectations, channel proliferation, disruption, innovative use and adoption of new technologies and the digitization of business and society in general. Cost reductions, increasing top-line revenue and mitigating risk remain the key drivers, also in retail banking. TheContinue reading “CIO interview: Tran Nhat Minh and digital transformation journey at VIB”
SME Financing in Vietnam can be transformed with the support from Indovina Bank, Cathay Holdings and Finaxar
Advertisements The new partnership will provide SMEs access to financing in Vietnam, where SMEs today account for 96-98% of all enterprises The partnership will leverage IVB and Cathay’s data analytics modelling and tools, Indovina Bank’s FCL credit line, in addition to Finaxar’s innovative SME credit solutions Finaxar’s SME credit solutions is the first-of-its-kind, completely onlineContinue reading “SME Financing in Vietnam can be transformed with the support from Indovina Bank, Cathay Holdings and Finaxar”
How Much Do You Really Understand Vietnam’s Value Added Tax
Advertisements Vietnam Value Added Tax (VAT) is an indirect tax, the cost of which ultimately falls on the consumer. The majority of transactions involving the supply of goods, the provision of services and imports will be subject to this tax. Broadly, VAT is levied on the value added at each stage of the production andContinue reading “How Much Do You Really Understand Vietnam’s Value Added Tax”