The logo of Deutsche Bank building in Amsterdam. The German lender's latest decision to remove global equities unit from its business portfolio may not impact the Vietnamese market.- AFP Photo German Deutsche Bank early this week announced it will axe its global equities unit, cut some fixed-income operations and lay off around 18,000 staff as part of its restructuring plan. … [Read more...] about Deutsche Bank’s restructuring not expected to harm Vietnam market
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Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,228 VND per USD on February 19, up 14 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,925 VND/USD and the floor rate 22,531 VND/USD. The opening hour rates at most commercial banks saw a slight fluctuation. At 8:20 am, Vietcombank listed the buying rate at 23,135 VND/USD and the selling rate at 23,305 VND/USD, unchanged from February 18. However, BIDV cut 5 VND from both rates, with the buying rate listed at 23,165 VND/USD and the selling rate at 23,305 VND/USD. Techcombank added 5 VND to both rates, listing the buying rate at 23,160 VND/USD and the selling rate at 23,320 VND/USD./. … [Read more...] about Reference exchange rate up 14 VND on February 19
At present, there are still a number of banks holding over 5% of the shares of other banks or financial companies. For example, the Bank for Foreign Trade of Vietnam currently holds 7% stake of the Military Bank, 5.07% stake of the Oriented Commercial Joint Stock Bank and 8% of the Sai Gon Bank. … [Read more...] about SBV encourages M&As to restructure banks
In late January, the exchange rate quoted by banks was VND23,100/23,270 per dollar, increasing by VND20 and VND40 per dollar, while the dollar price in the free market was VND23,200/23,300 per dollar, increasing by VND30 and VND120 compared with the end of 2019. In late January, the exchange rate quoted by banks was VND23,100/23,270 per dollar, increasing by VND20 and VND40 per dollar, while the dollar price in the free market was VND23,200/23,300 per dollar, increasing by VND30 and VND120 compared with the end of 2019. … [Read more...] about How will exchange rate and interest rate be affected amid Covid-19 outbreak?
The appreciation of the US dollar in the global market would continue to weigh on the exchange rate, coupled with the pressure from the development of the coronavirus epidemic, according to Bảo Việt Securities. However, the company predicted that the Vietnamese đồng would see just a slight devaluation against the US dollar, at around 2-3 per cent for the full year. — VNS … [Read more...] about Central bank makes net cash withdrawal amidst high inflation pressure