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”
Category Archives: Finance
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”
Vietnam real estate outlook sparks foreign investor rush
Advertisements ‘In Vietnam, the rapid advancement of the middle and affluent classes is promoting the next wave of demand.’ Ranked high for development prospects in the Asia-Pacific region, Vietnamese real estate is attracting increased investment interest. Big names in the global real estate industry are choosing Vietnam as their next investment destination because it showsContinue reading “Vietnam real estate outlook sparks foreign investor rush”
PG Bank skips 2017 dividend
Advertisements PG Bank had to set aside a provision of VND383 billion ($17 million) in 2017 so its profit was not enough to pay dividends. Will the merger with HDBank improve the business activities of PG Bank? According to PG Bank’s report on its general shareholders’ meeting, the total assets of the bank in 2017Continue reading “PG Bank skips 2017 dividend”
Five sectors of opportunity in Vietnam
Advertisements Poised to become a developed nation by 2020, Vietnam is an open economy with trading flow of US$340 billion. The country’s foreign direct investment (FDI) sector accounts for approximately 22 per cent of its economy. PwC highlights five emerging sectors in the country with the greatest potential for growth and investment. 1. Business processContinue reading “Five sectors of opportunity in Vietnam”
Shares fail to maintain rally
Advertisements Vietnamese shares failed to maintain their upward trend on Thursday due to overwhelming selling pressure that persisted from the start of the trading hour to the closing minutes. The benchmark VN Index on the HCM Stock Exchange dropped 1.18 per cent to close at 969.40 points. It jumped 1.95 per cent on Wednesday. TheContinue reading “Shares fail to maintain rally”
TPBank earns US$97mn by issuing private shares
Advertisements Tiên Phong Commercial Joint Stock Bank (TPBank, stock code TPB) has completed the private sale of 87.63 million shares to more than 20 investors, earning nearly VNĐ2.2 trillion (US$96.5 million). In a filing to Ho Chi Minh Stock Exchange on June 18, the bank said 100 per cent of its shares were sold toContinue reading “TPBank earns US$97mn by issuing private shares”
Moody’s Assigns Counterparty Risk Ratings to 16 Vietnamese Banks
Advertisements Moody’s Investors Service has today assigned Counterparty Risk Ratings (CRRs) to 16 rated banks in Vietnam. The banks affected are: 1) An Binh Commercial Joint Stock Bank (ABB), 2) Asia Commercial Bank (ACB), 3) Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), 4) JSC Bank for Foreign Trade of Vietnam (Vietcombank), 5)Continue reading “Moody’s Assigns Counterparty Risk Ratings to 16 Vietnamese Banks”
Vietnam Internet Crackdown Damages Plans to Become Blockchain Hub
Advertisements Vietnam legislators approved a cybersecurity bill on June 12 putting tighter rules on tech companies from the start of 2019. Vietnam has been recognised as a potential hub for blockchain activity but doubts still remain over regulatory uncertainty. New Cybersecurity Bill Approved The new bill requires tech companies to hold important personal data locallyContinue reading “Vietnam Internet Crackdown Damages Plans to Become Blockchain Hub”
Tighter rules for banks
Advertisements The State Bank of Việt Nam (SBV) has decided to push ahead with restructuring the banking system, applying stricter measures to effectively prevent cross-ownership at commercial banks. The SBV recently announced it is drafting a circular in a move to discourage cross-ownership among banks and encourage transparency in the capital contribution sources of shareholders.Continue reading “Tighter rules for banks”
VCSC: KEB Hana Bank is potential strategic investor of BIDV
Advertisements Korea’s KEB Hana Bank has been confirmed as the potential strategic investor of Bank for Investment and Development of Vietnam (BIDV) by Viet Capital Securities Company (VCSC). In a report on BIDV, which is one of big four state-run commercial banks, VCSC said the prospect of finding strategic investors of BIDV after eight yearsContinue reading “VCSC: KEB Hana Bank is potential strategic investor of BIDV”
Vietnam Techcombank to increase charter capital to 1.53 billion USD
Advertisements The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will increase its charter capital to nearly 34.97 trillion VND (1.53 billion USD). According to VNA’s report, the plan was approved by the bank’s shareholders at an extra meeting on June 14. Techcombank’s charter capital currently stands at nearly 11.66 trillion VND, and the increaseContinue reading “Vietnam Techcombank to increase charter capital to 1.53 billion USD”
Financial experts urge caution against dollar loans
Advertisements Experts have warned enterprises to be more cautious with their US dollar loans amidst a significant rise in the lending and appreciation of the greenback. Statistics of commercial banks showed that despite a decline in dollar deposits, their dollar lending increased significantly in the first quarter of this year. At BIDV, for example, dollarContinue reading “Financial experts urge caution against dollar loans”
Commercial banks to support WB projects
Advertisements Sài Gòn-Hà Nội Bank (SHB) and Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) have been assigned to support projects signed between Việt Nam and the World Bank. — Photo baomoi.com, reported by Viet Nam News HÀ NỘI — Sài Gòn-Hà Nội Bank (SHB) and Việt Nam Technological and Commercial Joint Stock Bank (Techcombank)Continue reading “Commercial banks to support WB projects”
‘Big four’ banks stay firmly in their positions as other big banks arrive
Advertisements The prosperity of the stock market in 2017 and the first months of 2018 has helped banks increase accumulated capital. Techcombank on April 26 announced it had completed the sale of 164 million shares, collecting VND21 trillion worth of capital. The shares went for a good price, VND128,000, a price level that only oneContinue reading “‘Big four’ banks stay firmly in their positions as other big banks arrive”