Vietnamplus

The top 60 biggest companies by market capitalisation and trading liquidity on the two local stock exchanges saw combined post-tax profit gain of 22.5 percent to 46.75 trillion VND (2 billion USD) in the third quarter of 2019.

Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.

Contactless payment is becoming trendy in Vietnam thanks to the growth of technology and the country’s young population.

Vietnamese shares advanced on October 8 as attention shifted to companies with good earnings prospects amid a lack of supportive information.

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)’s pre-tax profit hit 2.491 trillion VND (102.21 million USD) in the first nine months of this year, a year-on-year rise of 89.5 percent, the bank reported.

Many banks are auctioning mortgaged assets, mainly real estate, worth trillions of VND to speed up the resolution of non-performing loans.

Sacombank and Alliex Vietnam JSC have signed a deal to create shared POS payment infrastructure that is integrated with many banks and allows many different payment methods.

Deputy PM Vuong Dinh Hue hailed the Republic of Korea as a cashless payment model that Vietnam wants to follow during a reception in Hanoi for Director of the RoK’s Alliex Technology Company.

The State Bank of Vietnam (SBV) and the Bank of the Lao PRD (BOL) held a conference on September 17 to share experience in macro-economy management, particularly in the finance-banking area.

Leaders of the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) met in Phnom Penh on September 16 at an annual conference to share experience in macro-economy management, especially in finance-banking, and seek ways to strengthen cooperation in personnel training.

Banks have increased their interest rates on certificates of deposit (CDs), bringing them in excess of 10 percent per year with the aim of mobilising long-term capital.

Tai Viet JSC – Vietstock and finance and life newswire Fili.vn on August 9 announced and honoured a list of listed companies with the best investor relations.

With increasing digital adoption, the finance industry is having great difficulty finding human resources for new job positions, experts have said.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted the highest pre-tax profits among Vietnamese banks in the first six months of 2019, raking in more than 11.04 trillion VND (474.7 million USD), up 43.1 percent on-year.

Though there remains six months, some banks have almost used up the assigned quota for the whole year, and experts said it would be difficult for the banks to get an expansion approval from the State Bank of Vietnam (SBV).

Many of them have paid dividends in shares, issued bonus stocks, or even asked to retain their dividends.

While private joint stock banks have had some success in raising their charter capital, major banks, except for Vietcombank, are still struggling with this work.

Some experts have said when a bank is unable to have a minimum capital adequacy ratio (CAR) of 8 percent for a long time, it could be put under special control by the central bank.

The Vietnam Maritime Commercial Joint Stock Bank (MSB) has been given an approval from the State Bank of Vietnam (SBV) to apply Basel II standards, raising the total number of Vietnamese banks meeting the global norms to nine.

The Vietnam Bank Card Association, in collaboration with the National Payment Corporation of Vietnam (NAPAS) and 7 commercial banks, launched the first domestic chip cards on May 28.