Vietnamplus

Banks have been promoting a target of diversifying income sources to reduce dependence on credit.

Vietjet Aviation Joint Stock Company (HoSE: VJC) on May 28 held the 2022 Annual General Shareholders’ Meeting to review its resilient business performance against the pandemic, the last five-year term of the Board of Directors, and to vote on the 2021 audited financial statements and the development plan for 2022.

Vietjet Aviation Joint Stock Company (HOSE: VJC) has released its financial statements reporting 4,430 billion VND (approx. 192 million USD) of consolidated revenue in the fourth quarter of 2020 and a total of 18,210 billion VND (approx. 790 million USD) of consolidated revenue in 2020.

Many banks have gained significant profit increases from foreign exchange (forex) trading this year, figures show.

Sacombank has released its consolidated financial statements for the second quarter, with pre-tax profit going up by more than 10 percent from the same period last year to 441 billion VND (19 million USD).

Shareholders of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) approved the bank’s financial statements for last year, a number of targets for this year, profit distribution plans and other important proposals at its annual general meeting held online on June 5.

Vietnam Electricity (EVN) recently reported a pre-tax profit of 12.5 trillion VND (535 million USD) last year, up 38 percent year-on-year.

Vinaconex corporation has registered to divest all of its 16 million shares in Vinaconex Power Investment Construction and Development JSC.

The Ho Chi Minh Stock Exchange (HOSE) has received dozens of documents from listed companies asking to extend the deadline for the disclosure of this year's financial statements.

The State Bank of Vietnam (SBV)’s Governor or the directors of SBV’s municipal and provincial branches will be able to lace credit institutions under the SBV’s special control, starting from next month.

Despite a draft roadmap to apply International Financial Reporting Standards 9 (IFRS 9) compulsorily in Vietnam from 2025, domestic banks should start preparations now as the complex norms have proved a major challenge for global financial institutions, experts have said.

Vietjet Aviation Joint Stock Company has announced its audited financial statements of 2018, which exceeded its annual plan.

The Ministry of Finance and the Japan International Cooperation Agency (JICA) held a seminar in Hanoi on February 22 to discuss international experience in and a roadmap on the adoption of International Financial Reporting Standards (IFRS) in Vietnam.

Healthy domestic banks should focus on improving the transparency in their audited financial statements to attract foreign investors as some banks have recently succeeded with the strategy, experts suggested.

The WB, in partnership with the Ministry of Finance, launched the Reports on the Observance of Standards and Codes (ROSC) in accounting and auditing in a ceremony in Hanoi on December 14.