Vietnamplus

The Ministry of Finance (MoF) held a seminar with the International Monetary Fund (IMF) on November 19 to discuss risk management of re-lending foreign loans and government guarantees.

The Vietnamese dong will remain stable for the rest of the year but may appreciate by 0.5 percent in 2021, VNDirect Securities Corp forecast.

Vietnam and Singapore boast faster-than-expected “V” recovery compared to the rest of the ASEAN region, Singapore’s website propertyguru.com.sg cited a report by Maybank Kim Eng – the largest bank of Malaysia.

The corporate bond market cooled in September and risks still persist for investors, according to securities companies.

A total 31 trillion VND (1.33 billion USD) was mobilised for the State Treasury through 15 Government bond auctions at the Hanoi Stock Exchange (HNX) in October, falling 47 percent from the previous month.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, HOSE: HDB) reported pre-tax profits of 3.61 trillion VND (155.5 million USD) for the first nine months of 2020, a year-on-year increase of 31.9 percent and equivalent to 107 percent of the target.

Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.

Banks in Ho Chi Minh City are focusing on measures to mitigate the difficulties faced by businesses due to the COVID-19 pandemic and help them get back to health, a State Bank of Vietnam official has said.

Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.

Domestic and foreign capital flow is expected to bolster real estate shares after the COVID-19 pandemic as many investors are paying attention to the industry.

The Prime Minister’s Economic Advisory Group has met with the local fintech firm MoMo in Ho Chi Minh City early this week.

Many banks have cut deposit interest rates after the State Bank of Vietnam (SBV) lowered the ceiling levels of interest rates from October 1.

Mechanisms and policies to support the local agro-forestry-fisheries sector have been broadly carried out around northern Vinh Phuc province since the beginning of the year, with a shift towards concentrated production based on value chains and market demand.

Renewable energy companies were becoming more active in the corporate bond market, according to brokerages.

The State Bank of Vietnam (SBV) said on October 2 that as of September 30, credit had expanded 6.09 percent as compared with the end of 2019.

Ho Chi Minh City is set to roll out a second COVID-19 aid package worth 12 trillion VND (517 million USD) exclusively for small and medium-sized enterprises (SMEs).

The Malaysian Real Estate and Housing Developers’ Association (Rehda) said it does not expect the ending of the six-month moratorium on loan repayments on September 30 to worsen the country’s residential property overhang.

The State Bank of Vietnam (SBV) on September 30 announced its decision to lower the benchmark interest rate as part of efforts to support the national economy amid difficulties posed by the COVID-19 pandemic.

Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital.

Commercial banks are trying to boost individual consumer loans, especially to home and car buyers, since credit growth had slowed due to low capital demand from businesses.