Advertisements Under the current global context, it will be hard for Vietnam to “swim against the tide”. The positive point is that the market valuation reversed to a relatively more reasonable level after the correction in 2018. VNIndex’s is now trading at 16x, 25% lower than its peak in March 2018 to reflect the slowerContinue reading “VDSC: 2019 Vietnam Strategy Report – Be Cautious, Not Pessimistic.”
Category Archives: Finance
Vietnamese banks look towards digitization
Advertisements Vietnam’s banks are racing to invest in new technology, infrastructure, and marketing schemes meant to put them on par with evolving global standards for personal banking. The country’s financial institutions are racing to catch up with banks in developed countries who have been allowing customers to access cashless banking platforms for quite some time.Continue reading “Vietnamese banks look towards digitization”
Foreign currency lending extended into 2019
Advertisements The State Bank of Việt Nam (SBV) has issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last year as planned. Under the new circular, lenders will be permitted to provide short-termContinue reading “Foreign currency lending extended into 2019”
Stable development predicted for property market in 2019
Advertisements Experts believe that following a stable year, the real estate market will continue to develop well, with no bubbles, in 2019. Vu Van Phan, deputy director of the Housing and Real Estate Market Management Agency under the Ministry of Construction (MOC), said the real estate market in 2018 witnessed stable development with no majorContinue reading “Stable development predicted for property market in 2019”
Chinese purchases of housing in Vietnam soars
Advertisements Reports about the real estate market in the last two years show a sharp increase in the number of Chinese buyers in Vietnam. The latest report by CBRE Vietnam found that 31 percent of customers who bought houses in HCM City in the first nine months of 2018 were from China, while the numberContinue reading “Chinese purchases of housing in Vietnam soars”
Vietnam’s economy grows by 7.08% in 2018, highest in 11 years
Advertisements The Vietnamese economy grew by 7.08% in 2018, the fastest rate in the past 11 years and beating the target of 6.7%, the General Statistics Office (GSO) has announced. A breakdown of sectors shows that agriculture grew by 3.76% and contributed 8.7% to GDP growth, while industry and construction expanded by 8.85% and madeContinue reading “Vietnam’s economy grows by 7.08% in 2018, highest in 11 years”
Vietnam’s banks to raise foreign capital for lending
Advertisements International Finance Corporation (IFC), a member of the World Bank Group supported $100 million in funding to Vietnam’s Oriental Commercial Bank (OCB) for its lending program for small and medium-sized enterprises (SMEs) and women-owned enterprises. “We are in negotiations with the IFC over loans, not only this mid and long-term facility but also aContinue reading “Vietnam’s banks to raise foreign capital for lending”
67 fintech companies compete for Vietnam’s US$4.4-billion market
Advertisements Vietnam currently has 67 fintech companies, which are competing for a US$4.4-bilion market, according to Asia-focused consulting firm Solidiance. The market size is projected to reach US$7.8 billion by 2020, while the number of fintech operating in Vietnam still remains small compared to regional countries, including Singapore with 490 fintech companies in 2017, IndonesiaContinue reading “67 fintech companies compete for Vietnam’s US$4.4-billion market”
Banks generated income and revenue from services
Advertisements In the first nine months of the year, the Vietcombank’s pre-tax profit exceeded the full-year 2017 figure and closed in on the year’s target. Thanks to a decline in provisioning for risky loans from 36.2 per cent to 29.9 per cent, the profit surged by 47 per cent year-on-year to US$516 million. Thien LyContinue reading “Banks generated income and revenue from services”
Vietnamese shares ended in negative territory today
Advertisements Shares fall for fifth straight session as large-cap stocks continued to suffer from an increase in investor selling pressure. The VN-Index on the Ho Chi Minh Stock Exchange edged down 0.65 per cent to end morning trading at 912.29 points. On Thursday, December 20, it dropped 0.11 per cent to end at 918.24 points.Continue reading “Vietnamese shares ended in negative territory today”
Vietnam bank CEO gets life, property mogul 17 years in jail
Advertisements A bank CEO and real estate tycoon have been found guilty in a $154 million graft case. The Ho Chi Minh City People’s Court Thursday sentenced former CEO of DongA Bank Tran Phuong Binh, fallen Da Nang real estate tycoon Phan Van Anh Vu and 24 others to various prison terms in a massiveContinue reading “Vietnam bank CEO gets life, property mogul 17 years in jail”
M&A value expected to rise in 2019
Advertisements Many deals struck this year to come to completion next year, according to Baker McKenzie report. M&As in Vietnam are forecast to reach $4.1 billion in 2019 and domestic IPOs $4.5 billion, according to the recent Global Transactions Forecast Report from Baker McKenzie. “Notwithstanding a solid domestic economy, Vietnam still sees some cooling inContinue reading “M&A value expected to rise in 2019”
ACB has planned to raise US$96.6m from unconvertible bond issuance
Advertisements The Vietnam’s Asia Commercial Joint Stock Bank (ACB) on Monday announced a plan to issue US$96.6 million worth of non-convertible bonds by the end of 2018. The to-be-issued 2,200 bonds would mark the bank’s second issuance round this year. VNS reports. The bonds will mature in 10 years with face value of VND1 billionContinue reading “ACB has planned to raise US$96.6m from unconvertible bond issuance”
Shares continued to fall on world stocks sinking
Advertisements Shares continued to fall on Tuesday due to the uneasy global market and the worries among investors about the US Fed’s imminent interest rate hike decision. According to Reuters, Asian markets were down on Tuesday, contributing to concerns about the global economy that brought Wall Street stocks to their lowest levels in more thanContinue reading “Shares continued to fall on world stocks sinking”
VIB relocates headquarters from Hanoi to Saigon
Advertisements Vietnam International Bank (Upcom: VIB) has moved its headquarters from Hanoi, Vietnam to Saigon from December 17th 2018. VIB’s headquarters located in Pasteur Street, District 1 – the heart of Ho Chi Minh City (Saigon), an area which will allow it to better meet customers’ requirements, the bank said in a press release. “SaigonContinue reading “VIB relocates headquarters from Hanoi to Saigon”