Advertisements In 2018, despite many challenges, Vietnam’s Eximbank has achieved better financial result thanks to hard work by all of its staff and strong support from valued customers. Member of the Board cum Head of Restructuring Project, Mr. Yutaka Moriwaki told Vietnam Insider, “We started “New Eximbank” project at the beginning of 2017, and duringContinue reading “New Eximbank – the journey to becoming a leading quality bank in Vietnam”
Category Archives: Finance
Bank rankings see big changes in 2018
Advertisements VietinBank, a state-owned bank, is no longer one of the top 5 profitable banks, while a private bank has for the first time been added to the top 3. In Vietnam, four state-owned banks were the largest and most profitable in previous years, but that has changed. VietinBank’s chair Le Duc Tho confirmed thatContinue reading “Bank rankings see big changes in 2018”
Will foreign investors relocate to Vietnam during the US-China trade war?
Advertisements Multinationals will have to think carefully about whether to relocate to Vietnam to avoid any negative impact from the US-China trade war, experts say. International and Vietnamese experts have predicted that there will be a wave of ‘US-China trade war refugees’ coming to Vietnam. As the US has imposed higher taxes, Chinese goods haveContinue reading “Will foreign investors relocate to Vietnam during the US-China trade war?”
Bank proposes 4.8 percent interest for social housing loans
Advertisements The Vietnam Bank for Social Policies (VBSP) has submitted proposals to the Prime Minister on the interest rates for preferential loans to rent and buy social housing or build, upgrade, and repair houses in 2019, with the suggested annual rate of 4.8 percent. According to VBSP Deputy General Director Nguyen Lan Phuong, the GovernmentContinue reading “Bank proposes 4.8 percent interest for social housing loans”
Stock market 2019: Worry, but not too much, experts say
Advertisements Finance and securities analysts are not overly concerned about stock market prospects in 2019, despite the recent downward trend. 2018 was a tough year for securities investors, though many of them made a profit. Vietnam, which was the fastest growing market in the first months of 2018, turned bearish on the last days ofContinue reading “Stock market 2019: Worry, but not too much, experts say”
Vietnam’s millionaire population growth among world’s fastest
Advertisements Vietnam ranks fourth among the world’s top 10 countries with the fastest millionaire population growth, a new report says. The country’s High Net Worth (HNW) population is set to grow by 10.1 percent each year in the 2018-2023 period, says wealth research firm Wealth-X. This growth rate is only lower than Nigeria at 16.3Continue reading “Vietnam’s millionaire population growth among world’s fastest”
VIB: Pretax profit 2018 nearly doubles to 2.74t dong with 48 percent y/y revenue growth
Advertisements Total assets at nearly 140t dong Deposits grow at 22.7% y/y; lending, 17.5% Bad debt ratio at 2.2% No details on 2019 fiscal targets given Impressive profit growth Vietnam International Bank announced its financial statements for the full year 2018. Accordingly, profit before tax reached VND 2,741 billion, growing by 95% compared to 2017Continue reading “VIB: Pretax profit 2018 nearly doubles to 2.74t dong with 48 percent y/y revenue growth”
PM agrees to the use of telecommunication accounts for payment
Advertisements Prime Minister Nguyễn Xuân Phúc said the Government had agreed to pilot the use of mobile phone accounts to pay for goods and services. Speaking at a conference with the Ministry of Information and Communications on Tuesday, the Prime Minister asked units to begin the use of payments via mobile phone. “The government agreesContinue reading “PM agrees to the use of telecommunication accounts for payment”
Vietnamese banks prepare for Basel II standards
Advertisements Vietcombank and VIB Bank have become the two first Vietnamese banks which have received approval from the State Bank of Vietnam (SBV) to apply Basel II standards. Both of them lead the market in service quality, governance capacity and market share. Vietcombank shares attract many investors, reflect ed in the capitalization value, P/E (priceContinue reading “Vietnamese banks prepare for Basel II standards”
Traders Expect Vietnam Stocks to Jump 18% This Year
Advertisements Optimism for Vietnam’s stock market was running high at the start of 2018, before a rout erased all early gains. This year again, investors are confident. The benchmark VN Index could rise to 1,049 by the end of December, implying an 18 percent advance for 2019, according to the average estimate of nine analysts,Continue reading “Traders Expect Vietnam Stocks to Jump 18% This Year”
VIB relocated its branch in Dong Nai to improve customer experience
Advertisements The Vietnam International Bank (VIB) has relocated its branch in the southern province of Dong Nai as part of its increasing effort to bring convenience and a safe experience to customers. The Dong Nai branch is now based on Vo Thi Sau Street, Thong Nhat Ward, Bien Hoa City, the bank said in aContinue reading “VIB relocated its branch in Dong Nai to improve customer experience”
Trading accounts in VN reach 2.2 million in 2018
Advertisements The number of trading accounts rose by 260,000 to reach nearly 2.2 million as of the end of 2018, according to the Vietnam Securities Depository (VSD). Of the total, 2.14 million accounts or 98.2 per cent were individual Vietnamese investors. The number was only 2.2 per cent of the country’s total population (nearly 97Continue reading “Trading accounts in VN reach 2.2 million in 2018”
Gold anticipated to keep climbing in 2019
Advertisements Global economic uncertainties, the weakening US dollar, and the growing trade tension between the US and China are anticipated to drive the gold forward in 2019. The gold hit $1,297.1 per ounce in Asia on the January 4 trading session right after the New Year holiday, jumping more than $10 per ounce (0.7 perContinue reading “Gold anticipated to keep climbing in 2019”
Incurring big losses in 2018, investors became disillusioned with cryptocurrency
Advertisements 2018 was described as a fearful year for cryptocurrency investors. After booming in price in 2017, bitcoin (BTC) and other cryptocurrencies all tumbled in 2018. By January 1, 2019, the price of one bitcoin had dropped to $3,700, a dramatic fall from the peak of $19,665 per bitcoin seen on December 16, 2018. WithContinue reading “Incurring big losses in 2018, investors became disillusioned with cryptocurrency”
Vietnam targets 14-percent credit growth in 2019
Advertisements The State Bank of Vietnam is targeting a 14 percent increase in banks’ total lending in 2019, in line with the credit growth seen previous year, state media reported on Monday, Jan 07. New loans will be funnelled to prioritized sectors, the central bank’s deputy governor Nguyen Thi Hong as saying, referring to areasContinue reading “Vietnam targets 14-percent credit growth in 2019”