Advertisements Kienlong Commercial Joint Stock Bank (Kienlongbank) and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd, announced Kienlongbank – JCB Credit Card just launched in Vietnam. The holders of Kienlongbank-JCB Card can access the JCB acceptance network with about 30 million merchants in the world, and enjoy a lot ofContinue reading “Vietnam’s Kienlongbank to launch Kienlongbank–JCB Credit Card”
Category Archives: Finance
Cash moving around, but not to production
Advertisements Investors successfully bought 5-year government bonds at a 3.45 interest rate at a bid organized on July 11 at the Hanoi Stock Exchange (HNX). Also at the trading session, the 10-year and 15-year bonds had interest rates of 4.43 percent and 4.73 percent, respectively. The interest rates showed an upward trend if compared withContinue reading “Cash moving around, but not to production”
MoF tables wide-scale proposal on gambling and casino business
Advertisements The Ministry of Finance’s proposal to cut a number of investment conditions on segments like casino, lottery, and betting, if approved, will stimulate investors implementing registered projects. Notably, the ministry proposed amending and supplementing 16 decrees in a number of fields, including insurance, securities, price appraisal, customs, accounting, auditing, lottery, electronic games for foreigners,Continue reading “MoF tables wide-scale proposal on gambling and casino business”
VN stocks driven by energy, agriculture
Advertisements Vietnamese shares advanced on Monday morning, driven by energy and agriculture stocks. The benchmark VN-Index on the HCM Stock Exchange gained 0.39 per cent to close at 972.70 points. The southern market index inched up total 0.04 per cent last week. The HNX Index on the Ha Noi Stock Exchange rose 0.33 per centContinue reading “VN stocks driven by energy, agriculture”
VDSC: Vietnam Stock Market Weekly Recap – MWG, BMP
Advertisements The shocker this week has been about the Turkey crisis, which sent ripples through the global market and reached Vietnam bringing the market down -1.73% on Wednesday, August 15th. The market had not dipped under -1% since July 20 (-1.12%). A combination of factors have led to fears the country is sliding into anContinue reading “VDSC: Vietnam Stock Market Weekly Recap – MWG, BMP”
Businesses, banks responsible for credit crunch: VCCI
Advertisements Both businesses and banks are to blame for the credit crunch facing the former, the VCCI says. The Vietnam Chamber of Commerce and Industry (VCCI) says that a survey of 504 businesses in different sectors found that most of them were unable to prove their creditworthiness to banks and other credit institutions. According toContinue reading “Businesses, banks responsible for credit crunch: VCCI”
City condo market begins to recover
Advertisements Condominiums remain the best bet for people living in big cities thanks to their affordable prices, and not surprisingly the HCM City apartment market is showing signs of recovering after the slowdown caused by the Carina Plaza fire at the beginning of this year, insiders said. A sales executive from TTC Land told ViệtContinue reading “City condo market begins to recover”
Bank tickers anticipated upbeat momentum ahead
Advertisements Despite some corrections in the first half, bank tickers are expected to lead the market in the second half, buoyed by dwindling provisioning and upbeat profit prospect. Hoang Huy, head of Equity Research at Ho Chi Minh City-based KIS Vietnam Securities Corporation, with price-per-earnings ratio averaging 17.1x, the VN-Index hovers in an attractive pricingContinue reading “Bank tickers anticipated upbeat momentum ahead”
Moody’s updates ratings of Vietnamese banks
Advertisements Moody’s Investors Service has upgraded the long-term local and foreign-currency deposit and issuer ratings of Vietcombank, BIDV, and VietinBank. Moody’s also upgraded the long-term counterparty risk ratings (CRR) and counterparty risk assessments (CRAs) of VietinBank and BIDV and affirmed those of Vietcombank. It also upgraded the long-term foreign-currency deposit ratings of ACB, Military Bank,Continue reading “Moody’s updates ratings of Vietnamese banks”
How will Vietnam cope with the crisis caused by China-US trade war?
Advertisements As GDP relies on exports, in order to avoid the abrasive effects of the China-US trade war, it needs to improve competitiveness and find new markets. A report released by NCIF (the National Centre for Socio-Economic Information and Forecast) at a recent conference said if the US imposes a tax rate of 25 percentContinue reading “How will Vietnam cope with the crisis caused by China-US trade war?”
Plan for new era fosters M&A market
Advertisements As the mergers and acquisitions market in Vietnam enters a new era, various changes are underway to foster growth in the right direction for Vietnam’s economy and businesses. Choosing the right investors At last week’s Vietnam M&A Forum 2018 in Ho Chi Minh City, senior officials, experts, businesses, and investors discussed the future growthContinue reading “Plan for new era fosters M&A market”
Overnight interest rate doubles to 4.42%
Advertisements Interest rates on the inter-bank market have surged strongly in the past week despite the central bank’s net injection of VNĐ14.4 trillion (US$612.76 million). According to a report from the Saigon Securities Incorporation (SSI), the rate of overnight loans last week doubled from the previous week to reach 4.42 per cent, nearly equal toContinue reading “Overnight interest rate doubles to 4.42%”
Gov’t approves strategy for bank expansion by 2025
Advertisements Việt Nam aims to have at least 2 or 3 banks in Asia’s top 100 largest banks in terms of assets by 2025. Under the development strategy of the banking sector until 2025, recently approved by Prime Minister Nguyễn Xuân Phúc, the Government also plans to have 3 to 5 banks listed on foreignContinue reading “Gov’t approves strategy for bank expansion by 2025”
Ministry of Finance proposes to cut 51.4pc of business conditions
Advertisements The Ministry of Finance proposed to cut 51.4 per cent of the total number of business investment conditions under the ministry’s management. The ministry also proposed to amend and supplement 16 decrees in many fields including insurance, securities, price appraisal, customs, accounting, auditing, lottery, electronic games for foreigners, casino, betting business, credit rating services andContinue reading “Ministry of Finance proposes to cut 51.4pc of business conditions”
Digital Banking Sees Prosperous Future in Vietnam
Advertisements Like the rest of emerging countries in Asia, digital banking penetration in Vietnam is on the rise. According to a survey by IDG Vietnam, 81% of respondents said they used digital banking solutions in 2017 compared to 21% in 2015. Digital banking solutions are appreciated for their convenience and time savings and while the growthContinue reading “Digital Banking Sees Prosperous Future in Vietnam”