Advertisements After two months postponing the increase in service fees for ATM cash withdrawals as required by the central bank, some commercial banks have now resumed the plan, announcing that a new service fee framework will apply from the middle of this month. Three big banks Vietinbank, Vietcombank and BIDV will officially increase service feesContinue reading “Banks to hike service fees this month”
Category Archives: Finance
Personal lending skyrockets, VIB ranks among biggest retail banks in Vietnam
Advertisements Vietnam International Bank (UPCoM: VIB) announced its 1H 2018 unaudited financial statements with positive business results showed in key indicators such as profit before tax, deposits, lending and NPL. Specifically, VIB’s 1H profit before tax reached VND1,151 billion, up 216% year-on-year since the net revenue increased by 56% year-on-year to VND2,701 billion, while operatingContinue reading “Personal lending skyrockets, VIB ranks among biggest retail banks in Vietnam”
Vietnam: Stock market has been hit by big players
Advertisements In the first half of 2018, at least 13 major funds and investors on Vietnam’s stock market suffered negative growth rate in their net asset value (NAV), which is value per share of a fund on a specific date or time. Leading this was Hanoi-based Hestia Joint Stock Company registered on the Unlisted PublicContinue reading “Vietnam: Stock market has been hit by big players”
Investors should think before snapping up cheap stocks
Advertisements Market adjustments over the past few weeks have brought many stocks down to attractive price levels compared to the beginning of the year, but investors should remain cautious. On the Hồ Chí Minh Stock Exchange, the benchmark VN-Index rose 2.01 per cent to close at 917.51 points on Friday. On the Hà Nội StockContinue reading “Investors should think before snapping up cheap stocks”
Stock markets from Vietnam to Japan hit by trade war contagion
Advertisements In the US versus China trade conflict, China isn’t the only loser for equity investors. Asian markets from Shanghai to Tokyo – and even Ho Chi Minh City – have been the biggest casualties ahead of American tariffs on US$34 billion of Chinese exports and retaliatory measures set to begin Friday. Bloomberg reports. InContinue reading “Stock markets from Vietnam to Japan hit by trade war contagion”
Shanghai Chongyang Investment Management: Stocks Are Near Bottom
Advertisements The rout in Chinese stocks may be nearing an end as the central bank turns to more accommodative monetary tools, according to Shanghai Chongyang Investment Management, whose flagship hedge fund has returned 356 per cent since its launch in September 2008. “While asset prices will face a ceiling given China’s tough regulation, risk preventionContinue reading “Shanghai Chongyang Investment Management: Stocks Are Near Bottom”
Vietnam c.bank willing to intervene after dong hits record low
Advertisements HANOI, July 2 – Vietnam’s central bank is willing to intervene in the foreign exchange market to ensure stability, its governor said on Monday after the dong currency fell to a record low last week. The dong hit 22,965 to the dollar on Friday, a drop that the central bank attributed to the U.S. currency’sContinue reading “Vietnam c.bank willing to intervene after dong hits record low”
Hedge Fund Veteran Gives Up on Chinese Stocks, increasing investments in Vietnam
Advertisements Kingsmead’s exit from China proves prescient as rout deepens Foo’s Kingsmead is increasing investments in Vietnam, Thailand According to a report by Bloomberg, John Foo, who has managed long-only and hedge funds in Asia for 20 years, has sold out of Chinese stocks for the first time in his career as a money manager.Continue reading “Hedge Fund Veteran Gives Up on Chinese Stocks, increasing investments in Vietnam”
Most marketes in SEA Stocks has falling, Vietnam plunges over 4 percent
Advertisements July 3 (Reuters) – Most Southeast Asian stock markets fell on Tuesday with Vietnam declining over 4 percent to a seven-month closing low, while Thailand rose more than 1 percent. Broader Asian markets also fell amid escalating worries a bitter trade dispute between the United States and major economies could derail global growth. InvestorsContinue reading “Most marketes in SEA Stocks has falling, Vietnam plunges over 4 percent”
Vietnam stock market hits new low, could go lower
Advertisements VN-Index, fell 39 points to 908.26 by 2:25 p.m. Tuesday and VN30-Index fell 3.7 percent to 895.86. Vietnam’s stock market fell 4.11 percent on Tuesday afternoon, hitting its lowest point this year, following a dramatic plunge in the second quarter. The country’s benchmark stock index, VN-Index, fell 39 points to 908.26 by 2:25 p.m.Continue reading “Vietnam stock market hits new low, could go lower”
Vietnamese natural makeup brands prosper in home market
Advertisements After many years of using only French makeup, My Ha, 40, from Phu Nhuan district in HCM City has begun using natural products made by Vietnamese enterprises. My Ha, a ‘follower’ of the ‘live green’ movement, found a showroom that sells skin-care products made by Vietnamese enterprises on Mac Thi Buoi street in districtContinue reading “Vietnamese natural makeup brands prosper in home market”
Two hacked customers lose VND200 million in DongA Bank overnight
Advertisements Two DongA Bank cardholders confirmed that they are still holding their ATM cards and have never given them to anyone, but VND201 million ($8,855) was stolen from their accounts in the middle of the night. Nguyen Thi Phuong Thuy (District 12, Ho Chi Minh City) is a client of DongA Bank who had VND86Continue reading “Two hacked customers lose VND200 million in DongA Bank overnight”
Vietnam’s former central bank official jailed
Advertisements A court in Vietnam on Monday jailed a former deputy governor of the central bank for three years, his lawyer said, the most senior banking official put on trial in the Southeast Asian nation amid a crackdown on corruption. Vietnam’s banking system was rocked in the early 2010s by a string of mismanagement scandalsContinue reading “Vietnam’s former central bank official jailed”
Stocks seen staying negative on investor fears
Advertisements The recent volatility of global stocks and the outflow of foreign capital have dampened investors’ confidence in Vietnamese shares in the past few weeks and the troubles are forecast to last into the near future. The benchmark VN Index on the HCM Stock Exchange gained 0.36 per cent to close at 960.78 points onContinue reading “Stocks seen staying negative on investor fears”
Woori Bank to open 6 new branches in Vietnam this year
Advertisements South Korea’s Woori Bank Co. won the Vietnamese financial authorities’ approval to open six additional branches in the Southeast Asian country, moving a step closer to its goal to operate more than 20 branches in the country by 2020. Pulsenews reported, the Korean leading bank said Wednesday that its local subsidiary Woori Bank VietnamContinue reading “Woori Bank to open 6 new branches in Vietnam this year”