Advertisements Vietnam stock market may be upgraded to the emerging market status from its current frontier market by 2020, according to the latest SSI Retail Research. The local securities market has grown rapidly and reached US$191 billion in total value by the end of March 2018, equivalent to 95 per cent of the GDP (grossContinue reading “Vietnam stock market may get ‘emerging status’”
Category Archives: Finance
Eximbank appoints former CEO of SeaBank as its new standing Deputy CEO
Advertisements The Viet Nam Export Import Commercial Joint-Stock Bank (Eximbank: EIB) has appointed Mr. Nguyen Canh Vinh, the former CEO of SeABank as its new standing Deputy CEO. His first working day at Eximbank is April 11th, 2018. . The news source of Vietnam Insider said, in order to complete the organizational structure to meet theContinue reading “Eximbank appoints former CEO of SeaBank as its new standing Deputy CEO”
Vynn Capital bullish on early stage bets as growth funding matures in SE Asia
Advertisements Vynn Capital, a new Southeast Asia-focused venture capital firm founded by former Gobi executive Victor Chua and Singapore’s Darren Chua, says it categorizes Vietnam as one of its Tier 1 markets. “This, coupled with our experience in Vietnam, we believe Vietnam is crucial for our investment strategy and will be a major driver ofContinue reading “Vynn Capital bullish on early stage bets as growth funding matures in SE Asia”
VN-Index hits 1,200 points on cash flow
Advertisements Strong cash flow poured into the brokerage and real estate sectors helped push the benchmark VN-Index to a new record high of 1,200 points in the morning session and maintain the uptrend during most of yesterday session, with stronger growth in the last minutes of trading. The VN Index on HCM Stock Exchange gainedContinue reading “VN-Index hits 1,200 points on cash flow”
Shinhan Bank Vietnam announces 2018 brand ambassadors
Advertisements Korean-backed Shinhan Bank Vietnam Ltd. today announced coach Park Hang Seo and U23 captain, Luong Xuan Truong to be the brand ambassadors of Shinhan Bank in 2018. After U23 Vietnam’s excellent performance in the recent Asian Football Confederation (AFC) U23 Champions Finale, coach Park Hang Seo and Luong Xuan Truong have become the iconsContinue reading “Shinhan Bank Vietnam announces 2018 brand ambassadors”
Moody’s upgrades VPBank’s credit rating for second year
Advertisements Moody’s Investors Services -Global credit rating firm – has upgraded Vietnam Prosperity Bank (VPBank: VPB)’s baseline credit assessment from B3 to B2, and its counterparty risk assessment from B2 to B1. In addition, Moody’s kept VPBank’s rating on long-term foreign-currency deposit unchanged at B2, while raising its outlook from ‘stable’ to ‘positive’. This wasContinue reading “Moody’s upgrades VPBank’s credit rating for second year”
Vietnam Stocks May Be in for Some Inclement Weather: Gadfly
Advertisements The heat in Ho Chi Minh City these days is almost too intense to bear. Having returned 52 percent in 2017, Vietnam is on track to be Asia’s best-performing market for a second year in a row. The Vietnam Stock Index is already up 22 percent. Since January, foreigners have purchased more than $440Continue reading “Vietnam Stocks May Be in for Some Inclement Weather: Gadfly”
Vietnam has huge e-commerce potential
Advertisements Vietnam’s e-commerce is valued at USD5bn and may reach USD10bn in the next four years, according to the Vietnam E-commerce Association (Vecom) According to Vecom, Vietnam experienced over 25% growth in e-commerce last year and may have the same growth for 2018-2020 period. Revenue growth of retail e-commerce alone last year was 35%. TheContinue reading “Vietnam has huge e-commerce potential”
Vietnam starts next phase of bank reform with TPBank listing
Advertisements Nine more in pipeline this year as country seeks foreign investors Tien Phong Commercial Joint Stock Bank, or TPBank, will debut on Vietnam’s main stock exchange on April 19, the first of 10 domestic banks scheduled to list in 2018. Out of the 31 lenders ordered by the government to list, 17 banks, includingContinue reading “Vietnam starts next phase of bank reform with TPBank listing”
VN-Index keeps upward trend, approaching 1,200 points
Advertisements The VN-Index on the Ho Chi Minh Stock Exchange (HOSE) continued the upward trend on April 6 when it gained nearly 7 points to move closer to the 1,200 point benchmark. The index rose 0.98 point to 1,194.15 points right at the beginning of the trading session. Later, a sudden strong demand pushed theContinue reading “VN-Index keeps upward trend, approaching 1,200 points”
Vietnam’s credit institutions expect better results in second quarter
Advertisements The majority of credit institutions in Vietnam anticipate that their business performance will improve in the second quarter of the year, according to a survey conducted by the State Bank of Vietnam. Three in four institutions said their results would be better in the April-June period, while 84% anticipate improved results throughout 2018, ofContinue reading “Vietnam’s credit institutions expect better results in second quarter”
V is for Vietnam, not volatility
Advertisements Despite the return of market volatility, a Vietnam equity fund managed by JP Morgan Asset Management has soared to the top as best performer, according to data from FE Analytics. Global equity markets have been volatile this year, led by a market correction in February and prompting analysts to herald “the return of volatility”Continue reading “V is for Vietnam, not volatility”
TrueMoney scores Vietnam payment services license
Advertisements TrueMoney Vietnam (“TrueMoney”), part of Southeast Asian Fintech company Ascend Money, has obtained the Intermediary Payment Services License from the State Bank of Vietnam to operate digital financial services in e-money, e-payment, wireless transfers, and payment gateways. TrueMoney is processing over one million transactions per month, with 500,000 customers a month transacting with TrueMoneyContinue reading “TrueMoney scores Vietnam payment services license”
VIB to raise chartered capital by 43.5% to VND8,100 billion
Advertisements Vietnam International Commercial Joint Stock Bank (or VIB) concluded its AGSM 2018 successfully with presence of shareholders, holding 486m of stocks, accounting for more than 91.7 per cent of total voting shares, independent auditing company and representative of the State Bank. All proposals were passed by the shareholders present at the meeting. VIB’s reportsContinue reading “VIB to raise chartered capital by 43.5% to VND8,100 billion”
Former DongA Bank CEO faces prosecution over $150mn loss case
Advertisements A former CEO of DongA Bank (DAB) and 20 accomplices will be prosecuted for violations in financial management and credit grants that led to a hefty loss for the Vietnamese lender, police said on Tuesday. The investigation police under the Ministry of Public Security said they have completed the investigation into the VND3,405 billion (US$150Continue reading “Former DongA Bank CEO faces prosecution over $150mn loss case”