Advertisements At the Annual General Shareholders Meeting of Vietnam International Bank (VIB) in HCMC on March 28, 2019, shareholders of the bank have approved the business plan for 2019, which includes a pre-tax profit of VND3.4 trillion (US$146 million), up 24 per cent from last year, and VND182.9 trillion in total assets. Shareholders also approvedContinue reading “VIB to pay 26.5 per cent dividends to its shareholders”
Category Archives: Finance
Government urged to help Vietnamese banks lure foreign capital
Advertisements The Government should help Vietnamese banks lure capital and experience from prestigious foreign banks so as to help local firms develop sustainably, experts said. Under a document sent to Governor of the State Bank of Vietnam, Le Minh Hung this week, the Vietnam Association of Financial Investors (VAFI) said in recent years, State-owned andContinue reading “Government urged to help Vietnamese banks lure foreign capital”
It’s time for Bancassurance to go digital
Advertisements As a distribution channel for a wide variety of insurance products, bancassurance has seen surges and stalls over the past several years. In the second quarter of 2018, McKinsey hosted its annual global Bancassurance Forum in Rome where it presented new research and data from a comprehensive benchmarking study by Finalta,1 covering banks headquarteredContinue reading “It’s time for Bancassurance to go digital”
Eximbank stock stays positive despite internal conflicts
Advertisements While the benchmark VN-Index dropped by 2.22 points to close at 980.76 points, the stock of Vietnam Export Import Commercial Joint Stock Bank (EIB) is one of 11 stocks added into the VN30 basket. At the end of the session on 29th March, Eximbank stock (EIB) increased by 2,3%, reached VND 17,600 per share.Continue reading “Eximbank stock stays positive despite internal conflicts”
VN Central Bank takes steps to downsize foreign currency credit
Advertisements Having bought a large amount of foreign currency to increase forex reserves, the State Bank (SBV) is continuing its strategy to downsize foreign currency credit. The director of the Monetary Policy Department said SBV is buying foreign currencies in large quantities, though the purchase frequency is less intense than the previous year. The centralContinue reading “VN Central Bank takes steps to downsize foreign currency credit”
Court requested to suspend the implement of changing Eximbank Chairman
Advertisements On 27th March 2019, The People’s Court of Ho Chi Minh City issued the decision No. 92/2019/QĐ-BPKCTT applying emergency measure to suspend implementation of Resolution No.112/2019/EIB/NQ-HĐQT of Eximbank’s Management Board relating to the dismissal and appointment of Eximbank’s chairman. Recently, People’s Court of Ho Chi Minh City has accepted to work on the civilContinue reading “Court requested to suspend the implement of changing Eximbank Chairman”
Nam A Bank funds for individuals, companies to buy Eximbank shares
Advertisements Several individuals and companies related to Hoan Cau Group and Nam A bank are possessing hundred million shares of Eximbank – a national bank having twice higher asset scale Nam A bank’s. Last week, Eximbank appointed Former CEO of Nam A Bank Luong Thi Cam Tu as its new Chairwoman, in place of theContinue reading “Nam A Bank funds for individuals, companies to buy Eximbank shares”
SBV is seeking opinions on draft amendment to Circular 43/2016/SBV – Stricter regulations on cash loans
Advertisements The State Bank of Vietnam (SBV) is seeking opinions on a draft amendment to Circular 43/2016/SBV (“Draft”) that directly regulates lending practices of consumer finance companies. The Draft separates indirect loan disbursement to goods or services providers and direct disbursement to borrowers. The latter category is the target of the new Draft and proposesContinue reading “SBV is seeking opinions on draft amendment to Circular 43/2016/SBV – Stricter regulations on cash loans”
Vietnam today: Stocks plunge amid global growth concerns, DPM, VCB
Advertisements The VN-Index fell 1.9% on Monday, mirroring losses in the US market on Friday, for a fourth down day in five. • VIC (-2.9%) was the top contributor to the day’s sharp pullback, followed by its subsidiaries VHM (-2.3%) and VRE (-4.7%). • VCB (-2.9%) led banks lower, along with BID (-1.7%), VPB (-3.8%),Continue reading “Vietnam today: Stocks plunge amid global growth concerns, DPM, VCB”
Korean banks saw record earnings in Vietnam in 2018
Advertisements Twelve Korean banks see brisk earnings in Vietnam in 2018, according to data from the Financial Supervisory Service (FSS), Tuesday. The banks’ net incomes in the region more than doubled from $61 million in 2017 to $131.8 million in 2018. Koreatimes reports. Shinhan Bank Vietnam made the biggest contribution to the lenders’ overall growthContinue reading “Korean banks saw record earnings in Vietnam in 2018”
Eximbank Board to Appoint Former CEO of Nam A Bank As Its New Chairwoman
Advertisements The Vietnam Export Import Bank (Eximbank) has appointed Ms. Luong Thi Cam Tu, a board member as the new Chairwoman on March 22, 2019 to replace Mr. Le Quoc Minh, who was elected as new chairman of the Eximbank at a shareholders’ meeting held on December 1, 2015. In a statement, Eximbank said, itContinue reading “Eximbank Board to Appoint Former CEO of Nam A Bank As Its New Chairwoman”
Vietnam is the region’s fintech hub
Advertisements Vietnam’s strong economic growth in recent years has led to the flourishing of the nation’s digital economy. The country’s economy in 2017 was deemed to be one of the best performing in the region. Its economy saw a 6.8 percent increase in gross domestic product (GDP) – higher than the government’s initial target ofContinue reading “Vietnam is the region’s fintech hub”
Nam A Bank affirmed that, stock disputes between shareholders not related to the business activities
Advertisements Before the information related to stock disputes between shareholders, Nam A Bank affirmed that the disputes (if any) are completely civil relations between shareholders, not related to the business activities of Nam A Bank – a public company operating publicly, transparently and strictly complying with the current legal regulations. On March 15, 2019, theContinue reading “Nam A Bank affirmed that, stock disputes between shareholders not related to the business activities”
Tu Huong’s husband – banking tycoon accused his son of withholding Nam A Bank
Advertisements Based on the accusation of Nguyen Chan – husband of banking tycoon Tu Huong, his second son is withholding the mutual property of his family. On March 15, Nguyen Chan (96 years old) – husband of Tran Thi Huong (commonly known as Tu Huong, died on May 13, 2017), the founder of Nam AContinue reading “Tu Huong’s husband – banking tycoon accused his son of withholding Nam A Bank”
VN stocks decline as selling hits large-caps
Advertisements Vietnamese shares fell on Friday, ending a three-day rise, as investors continued seeking short-term profits on the last day of exchange-traded funds’ review. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged down 0.43 per cent to close at 1,004.12 points. The southern market index had gained total 2.41 per cent inContinue reading “VN stocks decline as selling hits large-caps”