Advertisements Moody’s Investors Service on Tuesday upgraded the ratings of 14 Vietnamese banks, driven by its upgrade of Vietnam’s sovereign rating to Ba3 from B1 late last week. According to a report on VNS, under the latest rating actions on Vietnam’s banking industry, Moody’s upgraded the long-term local and foreign-currency deposit and issuer ratings ofContinue reading “Moody’s takes rating actions on 14 banks in Vietnam”
Category Archives: Finance
Moody’s takes rating actions on VIB
Advertisements Moody’s has upgraded the long-term local and foreign- currency bank deposit and issuer ratings of Vietnam International Bank (VIB). All other ratings were affirmed. Moody’s has also changed the outlook for the local currency deposit and local and foreign currency issuer ratings of VIB to stable from positive. The rating actions follow Moody’s upgradeContinue reading “Moody’s takes rating actions on VIB”
Business, individuals stay away from importing Bitcoin mining rigs to Vietnam
Advertisements The government, supported by other government agencies and the country’s central bank, is likely to pass a law banning the import of bitcoin mining rigs into Vietnam. Moneycontrol News Owing to the government’s efforts to pass a law banning the import of bitcoin mining rigs into Vietnam, since early July, Vietnamese businesses and individualsContinue reading “Business, individuals stay away from importing Bitcoin mining rigs to Vietnam”
Vietnam stock market started new week on positive note
Advertisements The Vietnam stock market started well on Monday with the two main stock indices rising, with improved liquidity and increased net buying by foreign traders among blue-chips. According to a report on VNS, on the Ho Chi Minh Stock Exchange (HOSE), the VN-Index closed Monday up 0.99 per cent at 978.04 points after gainingContinue reading “Vietnam stock market started new week on positive note”
ANZ Vietnam: Jodi West appointed as new CEO
Advertisements Australia and New Zealand Banking Group Limited (ANZ) today announced the appointment of Jodi West as new CEO of ANZ Vietnam, reporting to Farhan Faruqui, ANZ Group Executive, International. According to the announcement on the website of ANZ, Ms Jodi West joined ANZ in 2015 as Head of Institutional FX Sales, Australia. Prior toContinue reading “ANZ Vietnam: Jodi West appointed as new CEO”
Biggest Taxpayers list in Vietnam FY 2017
Advertisements The 1,000 Biggest Taxpayers 2017 list has several banks, including Vietcombank, VietinBank and BIDV, right at the top. According to a report by Thanh Xuan on VNExpress, 10 lenders made it to the top 50. Vietcombank inched up two spots from 2016 to fourth behind telecom giant Viettel Group, Japan’s automobile manufacturer Honda VietnamContinue reading “Biggest Taxpayers list in Vietnam FY 2017”
VDSC: Vietnam Stock Market Weekly Recap – Banking industry
Advertisements The second week of the month has been a rather subdued week with not much volatility compared to prior weeks past. The market has traded in a tighter range from -0.36% (Tuesday) to the high of 0.99% (Wednesday). This week closed out at 968.47, +0.52% for the day and +0.93% WoW. The VN IndexContinue reading “VDSC: Vietnam Stock Market Weekly Recap – Banking industry”
Vietnamese PE Mekong Capital fully exits Asia Chemicals
Advertisements Vietnam-focused private equity firm Mekong Capital has announced that its Mekong Enterprise Fund II (MEF II) made a full exit from its investment in Asia Chemicals Corporation (ACC) for a total consideration of $8.9 million, generating a gross return multiple of 2.6x and a gross IRR of 15.1 per cent. ACC is the lastContinue reading “Vietnamese PE Mekong Capital fully exits Asia Chemicals”
Vietnam to feel the ripples of the Yuan rout
Advertisements China’s currency may have stabilized, but the pain is spreading. Think the latest yuan rout is over? Tell that to Vietnam. According to a report by Shuli Ren on Bloomberg, the slide in China’s currency paused this week after jawboning by the central bank, which told commercial lenders it has the tools to stabilize the marketContinue reading “Vietnam to feel the ripples of the Yuan rout”
Banks won’t get higher credit limits
Advertisements The State Bank of Việt Nam (SBV) will not adjust upward credit growth limits for commercial banks, except in some special cases, for the rest of the year, SBV Governor Lê Minh Hưng said. The special cases are banks that have been required by the SBV to support ailing credit institutions in their restructuringContinue reading “Banks won’t get higher credit limits”
Difficult question for VN Central Bank: Curbing interest, inflation rate
Advertisements The government of Vietnam wants to keep the interest rate low and stable in order to encourage economic sectors to expand business, thus helping economic growth. The State Bank of Vietnam (SBV) had to sell more than $2 billion last week. The move, as analysts commented, shows that foreign capital flow in the marketContinue reading “Difficult question for VN Central Bank: Curbing interest, inflation rate”
It won’t be easy to lure foreign capital in H2: experts
Advertisements Foreign portfolio investment (FPI) will no longer be the main driver to attract foreign capital to Vietnam in the second half of 2018 as it was in the first six months of the year. The State Bank (SBV) Governor at the online government dialogue on July 2 said SBV bought over $11 billion inContinue reading “It won’t be easy to lure foreign capital in H2: experts”
Eximbank receives Operational Excellence Award from Wells Fargo
Advertisements Wells Fargo, one of the top three US banks, honoured Eximbank with the Operational Excellence Award. This award was handed over personally by Charles Kohler, deputy head of Global Payment Services at Wells Fargo, to Eximbank’s deputy CEO Nguyen Huong Minh. Minh Trang reported on VIR. This award is granted by Wells Fargo to its correspondentContinue reading “Eximbank receives Operational Excellence Award from Wells Fargo”
Vietnam investment: hectic M&A in 2018
Advertisements There is massive interest among foreign investors at the moment. At the Savills Hanoi, Da Nang, and Ho Chi Minh offices, we see many investor groups every day, mostly new entrants, who are keen to explore opportunities. This interest is mainly coming from the region – Japan, Korea, China, Hong Kong, Singapore – thoughContinue reading “Vietnam investment: hectic M&A in 2018”
CEOs meet the challenges of an uncertain world
Advertisements For our fourth annual Global CEO Outlook survey, we reached out to 1,300 CEOs of large companies across sectors from around the world, including over 30 CEOs from Vietnam, to get their views of a broad range of business drivers, risks, and pain points they and their businesses face. As in prior years, we’veContinue reading “CEOs meet the challenges of an uncertain world”