Advertisements Vietnamese shares advanced on Tuesday morning, driven by banking-financial companies. The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.56 per cent to close at 977.98 points. The VN-Index dropped 0.29 per cent on Monday. Nearly 90.7 million shares were traded on the southern bourse, worth VND2 trillion (US$87.6 million). Bank andContinue reading “Bank stocks move market up”
Category Archives: Finance
VIB hits VND1,820 billion in profit in H1 2019, leads the market in bancassurance, card issuance
Advertisements Vietnam International Bank (VIB) has earned VND 1,820 billion in profit in the first 6 months of 2019, leading the market in life insurance distribution and card issuance. According to its first half-year financial report for 2019, revenue of the bank reached VND 3,662 billion, up 36% YOY, of which net profit from servicesContinue reading “VIB hits VND1,820 billion in profit in H1 2019, leads the market in bancassurance, card issuance”
Foreign financial institutions in Vietnam are expanding
Advertisements Existing foreign financial institutions in Vietnam are increasing capital, while new entrants are joining the market. This week alone, the State Bank of Vietnam, the country’s central bank, announced it had approved capital increases for Malaysia’s Public Bank Vietnam Limited and South Korea’s Shinhan Bank Vietnam. Meanwhile, Japan’s Sumitomo Mitsui Banking Corporation in HoContinue reading “Foreign financial institutions in Vietnam are expanding”
Vietnam Seeks to Sell Stake in Military Commercial Bank: WSJ
Advertisements Lender has more than 100 branches, $16 billion in assets and a market cap close to $2 billion Vietnam’s government is looking to sell part of its stake in Military Commercial Joint Stock Bank , MBB -0.23% a large local lender with a market capitalization of close to $2 billion, people familiar with theContinue reading “Vietnam Seeks to Sell Stake in Military Commercial Bank: WSJ”
Banks rush to buy back bad debts
Advertisements Many banks have bought back the bad debts that they had sold before to the Vietnam Asset Management Company (VAMC), taking a new step forward in bad debt settlement. Vietcombank, Techcombank, MB Bank, OCB, VIB and ACB are pioneering the movement. Other banks, Eximbank, TP Bank, Kien Long Bank, VP Bank, BIDV, Eximbank andContinue reading “Banks rush to buy back bad debts”
VN-Index rises to seven-week high
Advertisements Vietnam’s benchmark VN-Index edged close to 980 points at the end of Thursday’s session, the highest in the last seven weeks. The VN-Index, which represents shares on the Ho Chi Minh Stock Exchange (HoSE), closed at 978.63 points, up 4.98 points or 0.51 percent over the previous session. The session closed with 169 gainersContinue reading “VN-Index rises to seven-week high”
VIB announces first luxury cruise award winner
Advertisements Ms Nguyen Thi Theu, a customer of VIB in Hanoi has become the first winner of special prize – a luxury cruise around Asia for two, in the first lottery round of the promotion “Experience the Asia luxury cruise with VIB credit card.” The results were announced July 5, 2019 in Ho Chi MinhContinue reading “VIB announces first luxury cruise award winner”
VN economy to rely on strength of private corporations
Advertisements The confidence of Vietnam’s economy is increasingly being placed in private corporations. Many economists believe that the key to development does not lie in GDP growth. For a $240 billion economy, a one percent GDP growth rate is just $24 billion, a modest figure compared with Indonesia and Thailand, economies with a scale fiveContinue reading “VN economy to rely on strength of private corporations”
Will Vietnam loosen monetary policies?
Advertisements Some central banks have loosened monetary policy to promote economic growth. Bloomberg reported that the US FED has decided to keep the reference interest rate unchanged at 2.25-2.5 percent after a meeting discussing the monetary policies last week. The US FED may issue the first interest rate reduction since 2008 because of uncertainties theContinue reading “Will Vietnam loosen monetary policies?”
Deutsche Bank to Close Most Equity Businesses in Asia
Advertisements Deutsche Bank is planning to shutter the majority of its equities business in the Asia-Pacific region as part of a restructuring to be announced as soon as Sunday, a person with knowledge of the matter said. The Frankfurt-based lender expects to stop offering trading of cash equities, equities research and may no longer underwriteContinue reading “Deutsche Bank to Close Most Equity Businesses in Asia”
Vietnam’s inflation to moderate to 2.7 percent in 2019: HSBC
Advertisements After recording its slowest pace in more than three year last month, Vietnam’s inflation is forecast to hit only 2.7 percent in 2019 after standing at 3.5 percent last year. HSBC analysts made the forecast in the ‘Vietnam at a glance’ report released this week. Vietnam’sheadline inflation last month moderated to 2.2 percent year-on-year,Continue reading “Vietnam’s inflation to moderate to 2.7 percent in 2019: HSBC”
Vietcombank to open New York rep office
Advertisements Bank licensed by New York and US regulators to open office in Q3. The New York representative office of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) is expected to officially begin operations in the third quarter of this year, becoming an extended arm of Vietcombank in North America and theContinue reading “Vietcombank to open New York rep office”
Investors still cautious, VN stocks mixed
Advertisements Vietnamese shares were mixed on Wednesday morning, while trading liquidity remained low due to investors’ caution. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange fell 0.28 per cent to close at 959.31 points. The HNX-Index on the Hà Nội Stock Exchange edged up 0.44 per cent to end at 103.92 points. TheContinue reading “Investors still cautious, VN stocks mixed”
How a non-bank financial credit company changed consumer lending?
Advertisements FE Credit’s efforts in providing the best services to its customers by using technology solutions have been recognised once again, this time by Ernst & Young, the world’s leading advisory services provider in assurance, tax, and transactions. With the rapid growth in the Vietnamese consumer finance industry, the demand for seamless and pleasing customerContinue reading “How a non-bank financial credit company changed consumer lending?”
Foreign-invested firms eyeing up stock listings
Advertisements Vietnam plans to launch new rules that make it easier for foreign-invested enterprises to list on domestic stock markets, amid necessity to draw in international capital. Nam Phuong reports. Last week, the State Securities Commission (SSC) revealed that it is collaborating with relevant ministries and government agencies to accommodate foreign-invested enterprises (FIEs) thatContinue reading “Foreign-invested firms eyeing up stock listings”