Vietcombank merger news expected

Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), one of the nation's biggest banks, is expected to ask its stakeholders at the meeting next week about a merger with a credit institution whose name remains a secret, Ban Viet Securities revealed on April 11.
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank),one of the nation's biggest banks, is expected to ask its stakeholdersat the meeting next week about a merger with a credit institution whosename remains a secret, Ban Viet Securities revealed on April 11.

Themeeting documents posted on Vietcombank's website do not mention thisdeal. Vietcombank had total assets of 469 trillion VND (22.23 billionUSD) as of the end of last year, an increase of more than 13 percentover the previous year, according to its audited financial report.

Vietcombank'spre-tax profit for last year reached 5.743 trillion VND (273.4 millionUSD), meeting approximately 99 percent of the target. With the economicsituation improving, the management board proposed aiming for pre-taxprofits of 5.5 trillion VND (261.9 million USD) this year, slightlylower than last year.

Japan's Mizuho Bank is now the strategicstakeholder of Vietcombank with a 15 percent stake. Vietcombank alsoholds stakes between 4 and 10 percent in Military Bank, Eximbank, PhuongDong Bank and Sai Gon Bank.

If Vietcombank's deal is announced,the banking sector will witness at least four mergers and acquisitionsthis year as part of the restructuring process.

PGBank, a memberof Petrolimex, may sell 99 percent of its stake to Vietinbank. The salewill be discussed at the annual shareholder meeting on April 18.

Ata meeting last month, Sacombank shareholders agreed to the bank's planto merge with Southern Bank, which will be implemented this year. Themerger of Mekong Housing Bank and Maritime Bank has also attractedattention.-VNA

See more

An overview of the meeting (Photo: VNA)

Binh Duong works to remove obstacles facing major FDI firms

Authorities of the southern industrial hub of Binh Duong held a meeting with two major foreign direct investment (FDI) enterprises operating in the province to address challenges facing the firms in production and business operations while encouraging their further expansion.

Real estate investors eye industrial zones with strong transport infrastructure. Illustrative image (Photo:VNA)

Real estate rises with infrastructure boom

According to Savills Vietnam, a more favourable real estate investment environment is expected in 2025 as cyclical challenges subside and the market continues its recovery.

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.