Vietnamplus

Some qualified commercial banks are forecast to get higher credit growth quotas from the State Bank of Việt Nam (SBV) in the next few months.

The State Bank of Vietnam (SBV) and the State Treasury of Vietnam have injected hundreds of trillions of VND into the market through foreign currency purchases from commercial banks.

The Bao Viet Securities Company (BVSC) has just approved a resolution to increase its profit plan for 2021.

Vietnamese ICT enterprises have benefited greatly from the fast digitalisation trend, with their revenues rising despite the COVID-19 pandemic.

Recently released financial reports show the earnings of securities companies were positive in the first quarter of 2021.

Companies are looking to raise debts from bond issuance before the amended Law on Securities takes effect next January.

Global provider of benchmarks, analytics and data solutions FTSE Russell last week kept Vietnam on its watch list as a frontier market.

Experts have said that the reduction in the central bank’s interest rate will also help stabilise lending rates.

The State Bank of Vietnam set the daily reference exchange rate at 23,046 VND per USD on May 8, up 6 VND from the previous day (May 7) and the highest level ever.

Vietnam remains in the FTSE Russell’s watch list for a possible future upwards reclassification, according to the annual country classification review published by the UK-based data service provider.

Four banks are seeking all possible ways to increase charter capital and some of them have succeeded but they found it not easy.

Experts have predicted that the State Bank of Vietnam (SBV) will hike the VND/USD exchange rate by 1.5-2 percent in 2019 to stabilise the macro-economy and facilitate exports.

Vietnamese stock markets are expected to remain positive in the short-term, with the VN-Index moving towards the 990-1,000 point range next week.

Analysts believe banking credit growth will ease off next year, but since lending activities will mainly be focused on the economy, growth will not be affected.

Economists have given bright outlook to Vietnamese economy, with the State Bank of Vietnam (SBV)’s credit growth target of 14 percent achievable.

Issuance value of corporate bonds in Vietnam reached a five-year high of 39.45 trillion VND (1.7 billion USD) in 2018, data from Bao Viet Securities Co (BVSC) showed.

Credit growth in the next three to five years is forecast to be around 14 percent per year, lower than the average rate of 18.1 percent in the 2015-17 period.

Morgan Stanley Capital International (MSCI) has decided to hold Vietnam’s status in the equity market in the Frontier Markets Index until 2019.

Although the VN-Index didn’t hit the short-term target of 1,130 points last week as expected, it has nevertheless maintained its upward trend and is forecast to open next week’s session with positive status.

Vietnamese shares fell on February 22 as increased selling pressure during the ATC session dragged oil-gas and bank stocks down.