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.
Covered warrants (CWs) will be officially listed and traded on the Vietnamese stock market from June 28, according to the State Securities Commission of Vietnam (SSC).
The Vietnam National Quality Awards 2018 were presented at a ceremony in Hanoi on June 23, honouring 75 companies with remarkable achievements in product and service quality and business performance.
Hydropower plants have seen poor business performance in the first quarter of 2019, which could give coal-powered and gas-powered thermo-electric plants more opportunities to produce electricity.
National flag carrier Vietnam Airlines will officially list more than 1.4 billion shares (coded HVN) on the Ho Chi Minh Stock Exchange (HoSE) on May 7, according to the company.
Although the stock market has been propped up by positive signs from both domestic and foreign markets, analysts still stayed prudent while giving forecast for the market trend in the Q2.
Japanese investment in Vietnam is expected to grow this year, given Japan’s recent initiative to shift investment to Vietnam and other Mekong River nations, as well as free trade agreements (FTA), experts said.
Recommendations were given to Vietnamese textile-garment businesses at a workshop in Ho Chi Minh City on April 10 to help them develop strategies for sustainable development.
Southern localities of Vietnam has been a major destination for investment from the Republic of Korea (RoK) in recent years, and local textile-garment and footwear industries have proved to be a magnet for an influx of capital from this country.
The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector in 2019, experts said.
Capital limitations hinder banks from meeting regulations on capital adequacy ratio (CAR) and performing their business due to a series of other regulations.
Authorities of the southern province of Dong Nai have held a meeting with foreign invested businesses to help address difficulties facing their operations.
As many as 88 percent of credit institutions expected their business performance will keep improving in 2019, of which 35 percent anticipated ‘significant improvement’.
The Vietnam Bank for Agriculture and Rural Development (Agribank) has been recently named in the top 500 strongest banks (AB500) in Asia-Pacific by the Asian Banker.
Many banks have seen their employee efficiency increase significantly, with each member of staff earning them more than 1 billion VND (43,000 USD) in pre-tax profit on average last year.
The Military Commercial Joint Stock Bank (MB) ranked third among 14 Vietnamese banks in the list of 500 strongest banks (AB500) in Asia-Pacific recently released by The Asian Banker.
The charter capital of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has risen by 3 percent to 37.1 trillion VND (1.6 billion USD) after its recent sale of more shares to two strategic investors - the Singaporean investment fund GIC Private Limited (GIC) and Japan’s Mizuho Bank.
Most of credit organisations expect their business performance will keep improving in 2019, according to the central bank’s Monetary Forecasting and Statistics Department.
Business
XIII National Congress of Communist Party of Vietnam
