
Vietnam’s stock market looks to strong 2025, led by banks
Recent financial disclosures from over 900 listed enterprises reveal a 20.9% year-on-year growth in profits after tax for the fourth quarter (Q4) of 2024.
Recent financial disclosures from over 900 listed enterprises reveal a 20.9% year-on-year growth in profits after tax for the fourth quarter (Q4) of 2024.
Currently, SIM card operating boxes can be imported without applying for authorities' permission, and they are used to provide call centre services for enterprises.
Banks in Singapore are increasingly turning to AI and automation to enhance services and address client losses due to inefficiencies in Know Your Customer (KYC) processes.
Bank representatives said they plan to increase market share and shift retail, with a focus on sustainable development to boost profits higher than last year.
Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,288 VND/USD on November 13, up 21 VND from the previous day.
Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,115 VND/USD on October 3, up 21 VND from the previous day.
Vietnamese banks' profitability is expected to be squeezed following their provision of debt relief to support borrowers affected by a recent deadly typhoon, according to the latest report by S&P Global Ratings.
Many banks have recently announced they are stopping transactions of domestic automated teller machine (ATM) cards with magnetic strips, to ensure security for customers in the context of increasing cybercrimes.
As many as 17 banks in Vietnam have announced programmes to support their customers who were affected by Typhoon Yagi.
Asset risks and profitability of Vietnamese banks remained broadly stable, but small banks faced more loan delinquencies and liquidity issues in the first half of 2024, analysts said.
Many banks, which used to focus on lending to individual (retail) customers, have had to shift to expanding corporate lending to achieve credit growth in the first half of 2024.
The Monetary Authority of Singapore (MAS) has cooperated with banks to seek solutions on quantum security in finance sector.
Many banks have issued large amounts of bonds to raise thousands of billions of VND, pushing interest rates to around 8% per year, much higher than that of normal savings.
Thailand’s major financial institutions are preparing for a difficult second half of 2024, as a struggling economy and high household debt force banks to take a more conservative approach to lending.
Bad debts in the banking system in the first five months of 2024 continued to increase by some 75.9 trillion VND (3 billion USD) against the end of 2023.
The Bank of Laos (BOL) and 15 commercial banks have signed a Memorandum of Understanding (MoU) to establish a centralized foreign exchange market to stabilize the national currency, improve transaction monitoring, and provide convenient currency exchange options..
Reference exchange rate for USD continues to slip
Some 80-90% of banks have partially or fully applied ESG (Environment - Social - Governance) practices in their operations, the State Bank of Vietnam (SBV)’s official said.