Advertisements On June 11, 2019, Ms Tran Thu Huong, Head of Retail Banking – Strategic Businesses cum Head of Strategy & Business Support Department of Vietnam International Bank (VIB), shared VIB’s experience regarding its initiatives to pivot to cashless transactions and emphasized benefits to consumers at a conference entitled “Cashless society: policies and realities inContinue reading “VIB proposes cashless solutions in Vietnam”
Category Archives: Finance
Most Vietnamese adults to have bank accounts by 2030
Advertisements The State Bank of Vietnam (SBV) must take action to ensure 90 percent of the Vietnamese population over the age of 15 have bank accounts by 2030. This instruction was included in Decision No 681/QD-TTg on implementing sustained development targets for Viet Nam until 2030 issued by the Prime Minister last week. The targetContinue reading “Most Vietnamese adults to have bank accounts by 2030”
Vietnam’s Vimo and mPOS to combine With Plans to Raise $30 Million
Advertisements Vietnam’s Vimo and mPOS to combine, rebranded as NextPay NextPay plans to expand to Myanmar and Indonesia in 2020 Two of Vietnam’s payments startups are merging to add scale in the market where cashless payments are booming. According to a report on Bloomberg, Vimo Technology JSC, a mobile wallet provider, and Vietnam mPOS TechnologyContinue reading “Vietnam’s Vimo and mPOS to combine With Plans to Raise $30 Million”
Ho Chi Minh city stock market finishes lower
Advertisements VN-Index, the stock market index of Ho Chi Minh City bourse in southern Vietnam, closed at 948.21 points on Thursday, down 3.20 points, or 0.34 percent against the previous trading day. Nearly 125.899 million shares worth 3.146 trillion Vietnamese dong (136.8 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange,Continue reading “Ho Chi Minh city stock market finishes lower”
After Record Share Sales, Vietnam Experiences Slowdown This Year: Bloomberg
Advertisements By Nguyen Kieu Giang Lack of big deals leads to drop in foreign investor interest Vietnam raised a record $3.51 billion first 5 months of 2018 After last-year’s record-setting sales of shares in companies, Vietnam is experiencing a comedown as fewer businesses offer stakes to stock investors amid uncertainties in the market. Twenty-one companiesContinue reading “After Record Share Sales, Vietnam Experiences Slowdown This Year: Bloomberg”
Six firms to have listings cancelled
Advertisements The targeted firms are Hoa Binh Mineral JSC (KHB), ALV Infrastructure Development Investment JSC (ALV), ASA Consumer Product JSC (ASA), CMIStone Vietnam JSC (CMI), Song Da Investment and Construction JSC (SDD) and Low Current-Telecom JSC (LTC). The move will raise the total number of companies to be delisted by force by the HNX inContinue reading “Six firms to have listings cancelled”
VN-Index plunges to a three-month low
Advertisements Vietnam’s benchmark VN-Index closed at 946.47 points at the end of Monday’s session, the lowest point since mid-February. The VN-Index, which represents approximately 90 percent of market capitalization on all of Vietnam’s exchanges, fell for the fifth consecutive session, closing down by 13.14 points, or 1.4 percent, Monday afternoon. Only three blue-chip stocks inContinue reading “VN-Index plunges to a three-month low”
Vietnam banks begin switching from magnetic stripe to chip technology for their domestic debit cards
Advertisements Seven commercial banks in Vietnam on Tuesday began switching from magnetic stripe to chip technology for their domestic debit cards, the first wave of transition pursuant to a government policy that looks to completely phase out the old-school swipe cards by the end of 2021. The seven lenders involved in the scheme’s first phaseContinue reading “Vietnam banks begin switching from magnetic stripe to chip technology for their domestic debit cards”
US adds Vietnam to currency manipulation watchlist
Advertisements The U.S. Treasury has added Vietnam to a currency manipulation watchlist, citing bilateral trade surpluses as a factor. The U.S. labels a country as a currency manipulator if it meets two of the following three criteria: a current account surplus with the U.S. equivalent to 2 percent of gross domestic product (GDP); a tradeContinue reading “US adds Vietnam to currency manipulation watchlist”
State Bank of Vietnam says ready to sell dollars to support dong
Advertisements (Reuters) – Vietnam’s central bank said on Tuesday it was ready to pump U.S. dollars into the market to stabilize the dong currency’s exchange rate, as it had come under pressure due to fallout from the U.S.-China trade war. Vietnam’s dong has weakened 0.9 percent this year and has fallen nearly 2.8 percent fromContinue reading “State Bank of Vietnam says ready to sell dollars to support dong”
VND currency hits new low against USD
Advertisements Commercial banks are selling USD for nearly VND23,500, a historical peak, with rates rising steadily since last week. On Monday morning, the State Bank of Vietnam (SBV) raised the reference price for $1 to VND23,069, an increase of VND15 from the previous day, up VND73 from one month ago. This represented a VND244 riseContinue reading “VND currency hits new low against USD”
High profits lead to stiff competition in credit card market
Advertisements Both domestic and foreign banks are offering preferential programmes to lure more credit card holders to compete for a larger market and a piece of the high profits generated by the credit card segment. Vietnam International Bank (VIB) recently launched its VIB Zero Interest Rate Credit Card, which is free of interest for allContinue reading “High profits lead to stiff competition in credit card market”
What’s behind the rise in Vietnam’s credit card market?
Advertisements Both local and foreign banks in Vietnam are offering preferential program to acquire more credit card holders to compete for a larger market and a piece of the high profits generated by the credit card segment. The Vietnam International Bank (VIB) recently launched its VIB Zero Interest Rate Credit Card, which is free ofContinue reading “What’s behind the rise in Vietnam’s credit card market?”
Vietnam Asset Management Company announced its plan for 2019
Advertisements This year, the Vietnam Asset Management Company (VAMC) aims to issue VND20,000bn of special bonds, buy non-performing loan (NPL, bad debts) at the market price of VND4,500bn and recover VND50,000bn of bad debts. In order to ensure sufficient capital to promote debt purchase at market value, VAMC want to grant enough charter capital ofContinue reading “Vietnam Asset Management Company announced its plan for 2019”
How this largest consumer credit company in Vietnam changed consumer lending
Advertisements FE Credit, one of Vietnam’s oldest and the largest consumer credit company, worked with EY and several FinTech partners to implement a robo-lending platform app, suitably named as $NAP, which digitizes the whole process of customer on-boarding, loan application, know-your-customer (KYC), credit underwriting, loan approval and disbursement. As a result, FE Credit reduced theContinue reading “How this largest consumer credit company in Vietnam changed consumer lending”