Advertisements Bank’s pretax profit may double to 2.2 trillion dong in 2018 Bank aims to sell 15% stake via private placement this year Tien Phong Commercial Joint Stock Bank expects its market capitalization to rise to least $1 billion in the fourth quarter after the scheduled listing this month, according to Chairman Do Minh Phu.Continue reading “TPBank Expects a $1 Billion Market Value After Vietnam Listing”
Category Archives: Finance
Foreign banks step up personal banking, increase M&A activity
Advertisements The year 2017 has witnessed a series of M&A deals in the banking sector, including Shinhan Bank Vietnam’s purchase of ANZ Vietnam’s personal banking division and the transfer of HCM City branch from Commonwealth Bank of Australia (CBA) to VIB. The year 2017 has witnessed a series of M&A deals in the banking sector,Continue reading “Foreign banks step up personal banking, increase M&A activity”
TP Bank Expects a $1 Billion Market Value After Vietnam Listing
Advertisements Tien Phong Commercial Joint Stock Bank (TP Bank) expects its market capitalization to rise to least $1 billion in the fourth quarter after the scheduled listing this month, according to Chairman Do Minh Phu. The Hanoi-based lender, known as TPBank, plans to sell about a 15 percent stake to investors via a private placementContinue reading “TP Bank Expects a $1 Billion Market Value After Vietnam Listing”
Most Southeast Asia stocks gain; Vietnam closes at all-time peak
Advertisements Vietnam shares ended at an all-time high on Monday, while most other Southeast Asian markets posted gains as broader Asian stocks climbed on the first trading day of the quarter. Vietnam stocks rose 1.9 percent to close at an all-time high of 1,196.61, helped by financials and real estate stocks. Joint Stock Commercial BankContinue reading “Most Southeast Asia stocks gain; Vietnam closes at all-time peak”
Property developers eye SEZs: new real estate trend in 2018
Advertisements Van Don, Bac Van Phong and Phu Quoc – three special economic zones (SEZs) – are new destinations for large real estate developers. Doors open wide Under the draft of the law on special administrative/economic units, one of the business fields to be given preferential treatment is real estate. Van Don EZ is designedContinue reading “Property developers eye SEZs: new real estate trend in 2018”
Vietnamese stock breaks 11-year record
Advertisements Real estate firm Vingroup JSC was the biggest contributor to the main index’s gain. Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate stocks, while most other Southeast Asian markets started April on a sombre note. The benchmark Vietnam index rose as much as 1.1Continue reading “Vietnamese stock breaks 11-year record”
Foreign real estate brokers expanding in Vietnamese market
Advertisements The property market segments which bring the highest profits are mostly controlled by foreign enterprises. In July, ERA Real Estate, a foreign broker, quietly opened five transaction points and one commercial office in the central business district of HCM City. The company now has 300 consultancy officers trained and certified in accordance with internationalContinue reading “Foreign real estate brokers expanding in Vietnamese market”
THE MOBILE BANKING COMPETITIVE EDGE REPORT: How banks rank on offering the features consumers say are critical for choosing a bank
Advertisements Banks are going to new lengths to attract and retain customers with mobile features. In BI Intelligence’s Mobile Banking Competitive Edge study, 83% of respondents said they use mobile banking. And banks are investing in mobile banking capabilities at unprecedented levels: Bank of America tripled its 2015 mobile banking budget in 2016, and maintainedContinue reading “THE MOBILE BANKING COMPETITIVE EDGE REPORT: How banks rank on offering the features consumers say are critical for choosing a bank”
Banks tighten lending to prevent real estate bubble in Ho Chi Minh City
Advertisements Banks in Ho Chi Minh City are raising the bar on real estate loans to stop a property bubble resulting from hiking land prices on the outskirts. Loans taken out for investment in real estate in District 9 and the rural districts of Can Gio, Cu Chi and Hoc Mon in Ho Chi MinhContinue reading “Banks tighten lending to prevent real estate bubble in Ho Chi Minh City”
VIB in talks with foreign investors for treasury shares sale
Advertisements Vietnam International Bank (VIB) is counting on surging foreign investment inflows in 2018 to offload its treasury shares to foreign investors as soon as in the third quarter and is looking to bolster its charter capital through a private placement. VIB chairman Dang Khac Vy said at the bank’s annual general meeting (AGM) heldContinue reading “VIB in talks with foreign investors for treasury shares sale”
Vietnam has huge potential in franchising: experts
Advertisements Many international and regional brands will enter Viet Nam’s retail and franchise sector in the coming years, according to experts taking part in Viet Nam Retail and Franchise Conference held in HCM City on Wednesday. “Viet Nam is a growing market for the retail and franchise sector,” said Suttisak Wilanan, deputy managing director ofContinue reading “Vietnam has huge potential in franchising: experts”
VIB and 3 local banks to organise AGM this week
Advertisements The Vietnam International Bank (VIB) LienVietPostBank, Saigon Commercial Bank (SCB), Military Bank (MB) are due to organise the annual general meeting (AGM) of shareholders this week. On March 29, VIB’s AGM will ask shareholders for approval plans to increase its charter capital to VND8.1 trillion by offering treasury shares, issuing new shares and payingContinue reading “VIB and 3 local banks to organise AGM this week”
Vietnam unprepared for imminent 4th Industrial Revolution: experts
Advertisements ‘For businesses to stay competitive, they need to adapt or die.’ The next Industrial Revolution will upend society as we know it and Vietnam is not adequately equipped to ride the upcoming waves of technological convergence, said experts at a conference held by the Vietnam Chamber of Commerce and Industry (VCCI)Continue reading “Vietnam unprepared for imminent 4th Industrial Revolution: experts”
Former Vietcombank branch director accused of swindling $64 million
Advertisements The former director of the Tay Do branch of Vietcombank in Can Tho, Nguyen Minh Chuyen, has been prosecuted for swindling VND1.44 trillion ($64 million) from the bank. Specifically, Nguyen Minh Chuyen, former director of the Vietcombank branch in Can Tho, and two accomplices named Tran Anh Huy (former head of the Credit Unit)Continue reading “Former Vietcombank branch director accused of swindling $64 million”
Dirty money: banks urged to report suspicious transactions
Advertisements Banks and payment gateways are now the most effective way for hi-tech criminals to transfer dirty money and conduct illegal actions. The police, while investigating cybercrime cases, have discovered that payment portals of some units of the banking system serve as a channel for criminals to remit money. The money is remitted in casesContinue reading “Dirty money: banks urged to report suspicious transactions”