Finance-Banking

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

S&P Global Ratings has reaffirmed Techcombank’s issuer rating of BB- with a “stable” outlook, highlighting the bank’s robust profitability, stable capitalisation and strong asset quality.

The General Department of Taxation on November 7 reported that the total state budget collection of the sector in January – October was estimated at over 1.4 quadrillion VND (55.18 billion USD), or 94.8% of the annual projection and up 16.3% against the same time last year.

The swift efforts by the Vietnamese securities regulator to eliminate pre-funding requirements have garnered praise from FTSE Russell and Morgan Stanley.

Ayudhya Public Bank Limited (Krungsri), a member of Japan's MUFG Group, has proposed to the Saigon - Hanoi Commercial Joint Stock Bank (SHB) that it will speed up the acquisition of the remaining 50% of SHBFinance’s charter capital.

The Ministry of Finance has released two price management scenarios to control inflation until the end of the year.

Affordable bank credit has supported businesses in key sectors that drive the country’s economic growth, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City office, told a conference on October 31.

While accelerating digital transformation, ensuring operational safety and information security is a priority. The remark was made by Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banks’ Association (VNBA) at the Smart Banking 2024 workshop and exhibition held in Hanoi on October 29.

Việt Nam is expected to continue pursuing a looser monetary policy, with interest rates forecast to decrease by 0.7 percentage points next year.

With the theme "Pioneering in Green Investment", the Vietnam Excellent Brands Program 2024 conducted a survey, evaluated and honored business brands with outstanding achievements in production, business, trade and service activities towards green growth and sustainable development.

Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.

Prospects for credit growth and exchange rates will create favourable conditions for non-bank corporate bonds to recover in the final months of this year, analysts forecast.

(VEN) - According the State Bank of Vietnam’s (SBV) leadership, with the current growth rate and overall economic trends, Vietnam’s 15-percent credit growth target for 2024 is within reach. However, the SBV emphasized that the key is to focus credit growth on boosting the economy, particularly prioritizing support for trading and production activities.

In a move to restructure the credit institution system and tackle bad debts, the State Bank of Vietnam (SBV) has announced the mandatory transfer of two major banks.

The State Bank of Vietnam (SBV) has issued a document requesting banks and credit institutions apply measures to boost consumption and spending.

(VEN) - Asian stock markets fell sharply after a tech sell-off on Wall Street, which raised concerns about the sustainability of artificial intelligence (AI) stocks.

Eximbank has refuted rumours circulating on social media about an 'urgent petition and reflection' allegedly citing severe risks that could lead to operational insecurity and a potential system collapse at the bank.

The Vietnamese stock market marked a significant turning point after a prior correction phase, with a remarkable recovery in the past trading week.

HCM City is focusing more on attracting remittance from overseas Vietnamese into the city’s socio-economic development through many policies, including issuing bonds for infrastructure projects.

Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.

Development Investment Construction (DIC Corp) said that it has fully redeemed the bonds it issued in September 2021.

Manulife Vietnam and Techcombank on Monday announced updated information on their exclusive insurance distribution partnership in Việt Nam.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and LOTTE C&F Vietnam Co., Ltd held a ceremony on September 27 for the signing of a MOU on optimising theirs resources, promoting sustainable growth, and bringing flexible, economical and effective consuming finance solutions to LOTTE customers.

State budget revenue from import-export activities in the first nine months of 2024 reached more than 306 trillion VND (12.4 billion USD), accounting for 81.7% of the set target and increasing 13.5% from the same period last year, the General Department of Vietnam Customs (GDVC) has reported.

Masan Group Corporation (HOSE: MSN) is expected to attract significant foreign capital as Việt Nam’s stock market is projected to receive up to US$1.7 billion from exchange-traded funds (ETFs) following its upgrade to emerging market status.

The State Bank of Vietnam (SBV) is working closely with ministries and local authorities to implement comprehensive strategies to address significant price disparities and stabilise the gold market.

State budget collection has so far reached 85 percent of this year's estimate, Deputy Minister of Finance Nguyễn Đức Chi has reported.

The State Audit Office of Vietnam (SAV) was elected as one of the two members of the Asian Organisation of Supreme Audit Institutions (ASOSAI) Audit Committee for the 2024-2027 term at the second plenary session of the 16th ASOSAI Assembly in New Delhi, India, on September 27.

A seminar entitled ‘Towards a sustainable future: Enhancing Vietnam – Republic of Korea (RoK) financial synergies’ was held in Hanoi on September 25, gathering representatives of state management agencies, credit institutions, businesses, and experts and scientists from Vietnam and the RoK.

Hanoi – Japan will continue its support for the State Securities Commission (SSC), stock exchanges and relevant parties in Vietnam to improve the equity market’s fairness and transparency under a technical assistance project from the Japan International Cooperation Agency (JICA), heard a workshop in Hanoi on September 23.