Advertisements There has been great variations in small-scale banks’ bad debts performance in the first half of the year, with some showing great improvements, while others struggle to cope. According to VIR, the total bad debt volume of Ho Chi Minh City-based NamA Bank fell to VND391 billion ($17.3 million) by the end of JuneContinue reading “Bad debts landscape at small banks”
Category Archives: Finance
Yuan payment allowed in Vietnam, China border areas
Advertisements Chinese yuan will be allowed for payment in the border areas between Vietnam and China. According to VNS, the announcement was part of Circular No 19/2018/TT-NHNN, which will take effect from October 12 this year. Besides the yuan, traders and residents in the border areas of Vietnam and China, can also use Vietnamese đồngContinue reading “Yuan payment allowed in Vietnam, China border areas”
Traders can use Yuan along China border of Vietnam
Advertisements Central bank appears to be striving to reduce risks from dollar transactions Vietnam plans to officially allow the use of the Chinese yuan for trading goods in its northern border towns, the central bank said on Wednesday. According to a report on Nikkei, the State Bank of Vietnam announced on its website that merchants,Continue reading “Traders can use Yuan along China border of Vietnam”
JPMorgan lends $50m to LienVietPostBank; SK’s Hyosung to invest $1.2b
Advertisements Hanoi-based lender LienVietPostBank has signed a $50 million credit agreement with JPMorgan Chase Bank, N.A while South Korea’s Hyosung Corp is investing $1.2 billion on a polypropylene (PP) plant and a liquefied petroleum gas (LPG) warehouse in Vietnam. Quynh Nguyen reported on DealStreetAsia. JPMorgan Chase lends $50 million to LienVietPostBank Hanoi-based lender LienVietPostBank hasContinue reading “JPMorgan lends $50m to LienVietPostBank; SK’s Hyosung to invest $1.2b”
Chu Thi Binh fully repaid by Eximbank
Advertisements Eximbank has paid client Chu Thi Binh the remaining VND152 billion ($6.7 million) out of a total of VND245 billion ($10.8 million) embezzled from her saving books. According to a report by Nguyen Huong on VIR, Eximbank has just announced finishing the compensation of Chu Thi Binh, repaying her the VND245 billion ($10.8 million) that sheContinue reading “Chu Thi Binh fully repaid by Eximbank”
Vietnam Stocks Attempt a Comeback
Advertisements Volatility in Vietnamese shares falls to lowest since November Ho Chi Minh Stock Index has risen 10 percent from its July low According to a report by Nguyen Kieu Giang on Bloomberg, Vietnam’s volatile stock market, which has gone from being the best performer in Asia Pacific this year to barely breaking even, seemsContinue reading “Vietnam Stocks Attempt a Comeback”
VN-Index struggles to maintain rally
Advertisements The exciting movement of the market on Monday morning was extinguished by selling pressure increasing in the afternoon, affecting many large-cap stocks. The benchmark VN-Index on the HCM Stock Exchange rose 0.49 per cent to close at 991.92 points. It made a weekly gain of 1.9 per cent last week. The HNX Index onContinue reading “VN-Index struggles to maintain rally”
Producers of oil & gas firms see drop in profits, but distributors’ earnings rise
Advertisements The oil price fluctuations have had a big impact on the business performance of Vietnam’s oil and gas firms. While miners and producers have unsatisfactory business results, distributors have made make fat profits. PV Drilling, which does most of the oil field drilling for PetroVietnam, incurred the loss of VND300 billion in the firstContinue reading “Producers of oil & gas firms see drop in profits, but distributors’ earnings rise”
Consumer credit: hundreds of lenders, thousands of debtors
Advertisements Vietnamese are increasingly borrowing money to spend on consumer goods as consumer loans had reached $5 billion by the end of 2017. The high demand for consumer credit has prompted more and more investors to set up finance companies. The Cement Finance JSC has changed its name to VietCredit Finance Company, while EVN FinanceContinue reading “Consumer credit: hundreds of lenders, thousands of debtors”
State-owned banks suffer equity erosion
Advertisements According to statistics from the State Bank of Viet Nam (SBV), as of May, State-owned banks’ combined equity was VNĐ252.472 trillion (US$10.83 billion), down 0.86 per cent. Other lenders’ equity was VNĐ315.340 trillion ($13.5 billion) after rising by 8.5 per cent, Vietnamnews reported. Việt Nam has seven State-owned banks, the biggest of which areContinue reading “State-owned banks suffer equity erosion”
Eximbank outlook is revised Stable from Negative by Standard & Poor’s Global Ratings
Advertisements Vietnam’s Eximbank has been revised to Stable from Negative by Standard & Poor’s Global Ratings. The stable outlook reflects our expectation that the bank will continue its restructuring efforts, characterized by selective loans growth and strict underwriting standards, over the next 12-18 months. the resilience of Eximbank’s financial profile has improved on the backContinue reading “Eximbank outlook is revised Stable from Negative by Standard & Poor’s Global Ratings”
Eximbank applies Infosys Technology for Enhanced Risk Management Capabilities
Advertisements The current challenges set by changes in the business environment and increasing requirements of risk management regulations have promoted banks to synchronize particular products. That is why the core-banking system is considered the center and nuclear of a bank’s information system as well as other financial systems. The more effective the core-banking system is,Continue reading “Eximbank applies Infosys Technology for Enhanced Risk Management Capabilities”
Remittances to Vietnam expand despite rise in USD price
Advertisements Remittances to Vietnam have increased despite the rise in USD price against other currencies and the zero interest rate for foreign currency savings, factors experts said would impact remittance flow. Nguyen Hoang Minh, deputy director of the State Bank of Vietnam’s HCM City branch, said in the past few years remittances to the cityContinue reading “Remittances to Vietnam expand despite rise in USD price”
Japanese ODA consultants in Vietnam should be paid $30,000 a month
Advertisements Vietnam has said the Japanese insistence that its official development assistance (ODA) consultants should be paid $30,000 a month is unreasonably high. “This is 20-25 percent higher than the average foreign consultant’s salary for projects funded by ODA loans and government preferential loans,” the Ministry of Finance (MOF) said in a recent report toContinue reading “Japanese ODA consultants in Vietnam should be paid $30,000 a month”
Finance companies finding it difficult to attract foreign capital
Advertisements Experts say the legal framework for consumer financing is still not open enough, creating difficulties in attracting foreign capital. Deputy CEO of Ernst & Young Nguyen Thuy Duong said the high consumer credit growth rate in recent years has attracted many regional investors. More M&A deals have occurred in the last two years. ShinhanContinue reading “Finance companies finding it difficult to attract foreign capital”