Advertisements A majority of credit institutions in the country expect an upward trend in their business this year, according to a survey released on Monday by the State Bank of Việt Nam. Under the business sentiment survey conducted last month, which covered domestic and foreign commercial banks operating in the country, 88.3 per cent ofContinue reading “Banks expect better business performance in 2018”
Tag Archives: banking
Bordier Partners in Vietnam
Advertisements Swiss private bank Bordier in Singapore will develop a new private banking service for the Vietnamese market with a partner in Hanoi. Hanoi-based Military Commercial Joint Stock Bank (MB) and Swiss private bank Bordier Singapore (Bordier) have signed an agreement for a collaboration in wealth management, the two firms said in a media releaseContinue reading “Bordier Partners in Vietnam”
Vietnam keeps on tightening monetary policy
Advertisements The State Bank of Vietnam, the central bank, wants to keep inflation below 4 percent this year, while also ensuring the exchange rate is stable. Local daily newspaper Vietnam News on Monday quoted Ho Chi Minh City Securities Corporation as reporting that, central bank will likely continue its tightened monetary policy in the fourthContinue reading “Vietnam keeps on tightening monetary policy”
Tightening monetary policy: strong message from central bank
Advertisements The State Bank of Vietnam (SBV) has requested commercial banks to control disbursement in risky business fields such as real estate, consumer credit and securities investments. The move, in the eyes of analysts, continues to tighten lending in the last months of the year. Monetary policy won’t affect GDP The GDP grew by 6.98Continue reading “Tightening monetary policy: strong message from central bank”
VIB issues 2,800 non-convertible bonds
Advertisements Three-year bonds in denominations of VND1 billion issued on September 27. The Vietnam International Commercial Joint Stock Bank (VIB) has announced the result of Phase 1 of its bond issuance in 2018. It issued 2,800 non-convertible bonds on September 27, secured by assets and not accompanied by warrant. The bonds have a term ofContinue reading “VIB issues 2,800 non-convertible bonds”
Fed rate hike won’t have much impact on Vietnam
Advertisements The US Federal Reserve (Fed)’s third interest rate hike this week would not affect Việt Nam’s economy significantly as the move was foreseeable, according to experts. Fed policymakers on Wednesday lifted the benchmark overnight lending rate by a quarter of a percentage point to a range of 2 per cent to 2.25 per cent.Continue reading “Fed rate hike won’t have much impact on Vietnam”
SBV refuses to lift credit growth ceiling, but banks remain optimistic
Advertisements The State Bank of Vietnam (SBV) may not approve the commercial banks’ proposal on lifting the credit growth rate ceiling, but banks still believe they will be able to fulfill their yearly business plans. SBV’s standpoint on the credit growth ceiling is clear: it will not grant more credit ‘quotas’ to banks unless thisContinue reading “SBV refuses to lift credit growth ceiling, but banks remain optimistic”
Techcombank named “The Best Bank in Vietnam 2018” by Euromoney
Advertisements The well-known financial publication Euromoney recently announced their “Awards for Excellence 2018”. The event attracted the participation of financial institutions from nearly 100 countries worldwide. Techcombank was the recipient of the award for the “Best Bank in Vietnam 2018.” According to Euromoney, Techcombank earned the “The Best Bank in Vietnam 2018” award as aContinue reading “Techcombank named “The Best Bank in Vietnam 2018” by Euromoney”
Vietnam Banking Report 2018: Amidst earnings announcement, concerns about capital adequacy remain
Advertisements In the first half of 2018, the Vietnamese banking sector enjoyed VNĐ35.5 trillion (US$1.53billion) in net profit, equivalent to 64 per cent of the previous year. Thanks to improved financial efficiency, progress was made in tackling bad debt, effective digitisation and thriving bancassurance partnerships, while bank stocks have become more attractive again. By SeptemberContinue reading “Vietnam Banking Report 2018: Amidst earnings announcement, concerns about capital adequacy remain”
Few bank stock options for foreigners
Advertisements Although Vietnamese bank stocks appear to have a bright future, foreign investors may find it difficult to join the parade due to a lack of progress on foreign ownership and corporate governance. Hot stocks The ups and downs of bank stocks tend to be closely monitored by investors and analysts in Vietnam, as theseContinue reading “Few bank stock options for foreigners”
VIB finances nearly $300 million for SME transactions
Advertisements Vietnam International Commercial Joint Stock Bank, also known as VIB, has been named the leading SME Trade Bank by the Asian Development Bank (ADB), thanks to its $276 million trade financing during the year ending on June 30, 2018. At the TFP Awards and Partners Dinner which was held on September 4 in theContinue reading “VIB finances nearly $300 million for SME transactions”
Banks upbeat about reaching full-year profit targets
Advertisements Banks are confident in reaching their full-year profit targets albeit the central bank is unlikely to loosen banks’ credit growth limit in the second half. Apart from several banks that have downwardly revised their full-year profit targets as they are approaching the credit growth limit, many other banks insist on retaining their profit targetsContinue reading “Banks upbeat about reaching full-year profit targets”
JPMorgan lends $50m to LienVietPostBank; SK’s Hyosung to invest $1.2b
Advertisements Hanoi-based lender LienVietPostBank has signed a $50 million credit agreement with JPMorgan Chase Bank, N.A while South Korea’s Hyosung Corp is investing $1.2 billion on a polypropylene (PP) plant and a liquefied petroleum gas (LPG) warehouse in Vietnam. Quynh Nguyen reported on DealStreetAsia. JPMorgan Chase lends $50 million to LienVietPostBank Hanoi-based lender LienVietPostBank hasContinue reading “JPMorgan lends $50m to LienVietPostBank; SK’s Hyosung to invest $1.2b”
Eximbank outlook is revised Stable from Negative by Standard & Poor’s Global Ratings
Advertisements Vietnam’s Eximbank has been revised to Stable from Negative by Standard & Poor’s Global Ratings. The stable outlook reflects our expectation that the bank will continue its restructuring efforts, characterized by selective loans growth and strict underwriting standards, over the next 12-18 months. the resilience of Eximbank’s financial profile has improved on the backContinue reading “Eximbank outlook is revised Stable from Negative by Standard & Poor’s Global Ratings”
Cash moving around, but not to production
Advertisements Investors successfully bought 5-year government bonds at a 3.45 interest rate at a bid organized on July 11 at the Hanoi Stock Exchange (HNX). Also at the trading session, the 10-year and 15-year bonds had interest rates of 4.43 percent and 4.73 percent, respectively. The interest rates showed an upward trend if compared withContinue reading “Cash moving around, but not to production”