State Bank takes over GP Bank Business

State Bank takes over GP Bank

The State Bank of Vietnam (SBV) took over Global Petrol Bank on July 7, after the bank failed to meet a deadline to have secured legal capital requirements.
Business

FDI disbursements hit peak

Disbursement of foreign direct investment (FDI) in March reached 1.39 billion USD, the highest level since the beginning of the year, according to the Foreign Investment Agency (FIA) of the Ministry of Planning and Investment.
Disbursement up but FDI falls in January Business

Disbursement up but FDI falls in January

Existing foreign investors have disbursed 420 million USD so far this month, a year-on-year increase of 5 percent, the Ministry of Planning and Investment's Foreign Investment Agency has said.
Business

Bank stocks help rally markets

Stock indices rose steadily on Dec. 15 after the previous trading session's modest retreat with bank shares again performing strongly.
Business

Banks seek time for capital deadline

With commercial banks facing a looming December 31 deadline to comply with stricter minimum capital requirements, the State Bank of Vietnam (SBV) has sent a proposal to the Government seeking an extension of the deadline.
Business

Market slump hits securities share offer

Stock market declines have forced securities companies to delay plans to issue shares to raise capital this year.

Among the firms affected are Trang An Securities Co, which in looking to raise its charter capital from 139 billion VND to 300 billion VND (15 million USD); and Vietinbank Securities Co, that plans to raise its capital from 790 billion VND to 900 billion VND (45 million USD).

Business

Vietcombank lowers this-year profit target

Vietcombank shareholders on April 19 approved a lower profit target for the year, cutting the bank’s estimated take this year by 10 percent from earlier forecasts to 4.5 trillion VND (236.84 million USD).
World

Malaysia sets to become high-income economy

Malaysia has set to enhance its competitiveness in order to be a high-income economy within a decade, Malaysian International Trade and Industry Minister Mustapa Mohamed said at a recent conference in Kuala Lumpur.