Vietnamplus

The open market operations (OMO) have been more stable this month after the State Bank of Vietnam (SBV) reduced its intervention in the market.

Banks are forecast to have a credit expansion at the end of the third quarter of 2022, according to Saigon Securities Incorporation.

The insurance industry is forecast to continue gaining double-digit growth this year thanks to new bancassurance contracts signed late last year and the recovery of the economy.

Major banks are still expecting to report growth in the first quarter and for the rest of 2020 despite the disruptions caused by the COVID-19 pandemic.

The State Bank of Vietnam has resumed open market operations for the first time since Tet (Lunar New Year) to improve liquidity in the banking system.

Liquidity in the interbank market has been abundant, helping the State Bank of Vietnam (SBV) resume the issuance of treasury bills after five months to withdraw Vietnamese dong from the banking system.

The Saigon Securities Incorporation (SSI) and a group of seven foreign financial institutions, led by Taiwan’s SinoPac bank, signed a trust loan contract worth 55 million USD during a ceremony in Ho Chi Minh City on March 21.

The Saigon Securities Incorporation (SSI) remained the largest broker in Vietnam in the third quarter of 2018, announced the HCM City Stock Exchange (HoSE) on October 3.

Stocks struggled on August 30 morning, but buying force was overwhelming in the afternoon’s session, helping the market rebound.

The State Bank of Vietnam (SBV) may sell part of its foreign reserves to stabilise the monetary market if the exchange rate continues to climb, the Saigon Securities Incorporation (SSI) forecast.

Saigon Securities Incorporation (SSI) remained the largest broker in Vietnam in the second quarter of 2018, accounting for 23.08 percent of the brokerage market share, according to the Ho Chi Minh City Stock Exchange (HoSE).

SSI targets pre-tax profits of 1.615 trillion VND (70.8 million USD) on revenues of 3.41 trillion VND (149.56 million USD) this year, year-on-year increases of 12 percent and 15 percent.

The profits of many domestic banks in the first quarter of this year are estimated to rise higher than that of the same period last year thanks to significant credit growth.

The shares of HDBank will list on the HCM City Stock Exchange (HoSE) on January 5, making it the first bank to go public in 2018.

Demand for Government bonds has hit a seven-month high, helping the State Treasury successfully issue all 5-15 year bonds worth 4 trillion VND (175.43 million USD) set for bidding last week.

Saigon Securities Incorporation (SSI) has decided to issue bonds worth 300 billion VND (13.3 million USD) to financial and credit institutions.