9 million usd to euro

Hanoi (VNA) - The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) earned pre-tax profit of over 12.83 trillion VND (554.7 million USD) and revenue of 21.1 trillion VND (910.38 million USD), marking increases of 31.5 percent and 24.7 percent year on year, respectively. In its latest report, Techcombank said net interest income reached 14.3 trillion VND, up 25.2 percent year on year. Meanwhile, non-interest income rose by 23.4 percent to 6.8 trillion VND, accounting for 32.3 percent of total revenues. The report showed that the provision expenses decreased by 50.3 percent supported by healthy asset quality and prudent risk management. Cost-to-income ratio of 34.7 percent was within the bank’s initial target. Return on assets of 2.9 percent was the best in the market and is consistent with Techcombank’s low risk, high return strategy. Total assets increased 19.5 percent compared with the same period last year, reaching 383.7 trillion VND (16.6 … [Read more...] about Techcombank reports pre-tax profit of over 554 million USD

Over the past two years, with the spirit of accompanying enterprises, the entire political system has taken drastic actions to support the development of the private economic sector. Many new mechanisms and policies have been promulgated and solutions undertaken, all towards bettering the business environment and timely tackling difficulties and obstacles for the development of the private economic sector in accordance with the Party’s guideline and policies. … [Read more...] about BUSINESS NEWS HEADLINES JAN. 21

Hanoi (VNA) - The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) announced a record consolidated pre-tax profit of 10.3 trillion VND in 2019 (447 million USD), exceeding 9 percent of the yearly plan and up 12.3 percent compared to 2018. With the result, VPBank has officially joined the list of the few banks with profit of over 10 trillion VND. The bank's total consolidated operating income last year reached 36.35 trillion VND (1.57 billion USD), an increase of 20.3 percent compared to the previous year. Consolidated credit growth reached 17.6 percent, higher than the average growth of the whole system. Deposit growth rate reached 23.7 percent compared to 2018, helping the bank ensure capital adequacy and expand business operations. VPBank attributed the record result to the breakthrough in the segments of consumer finance, individual customers and small and medium enterprises. Thanks to the exploitation of existing individual customer base and search for new … [Read more...] about VPBank announces record pre-tax profit in 2019

Tay Ninh (VNA) - A new two-line cable car system has opened in the southern province of Tay Ninh, taking visitors to the top of Ba Den (Black Lady) Mountain and Ba Den Pagoda. Developed by Sun Group, the cable car system, which is part of the Ba Den Mountain Sun World Tourism Area project, was designed by Austrian company Doppelmayr at an estimated cost of 2 trillion VND (86.5 million USD) for the first phase. With a designed speed of eight metres per second, it can transport 4,400 passengers per hour. Each cabin can accommodate 10 people. The two-way cable car line 1 extends from the foot of the mountain to the peak of Ba Den Mountain. It travels 986 metres above sea level with a length of 1,847 metres. With its 113 cabins, the cable car takes only eight minutes to reach the mountain’s summit, compared to a dangerous four-hour trek. From the foot of … [Read more...] about New cable car at Ba Den Mountain launched

Can Tho (VNA) - The Mekong Delta city of Can Tho will be calling for investment in local logistic services, tourism, hi-tech agriculture and IT projects at its investment promotion conference slated for August 8-10. The information was released by Truong Quang Hoai Nam, Vice Chairman of the municipal People’s Committee at a meeting to review preparations for the conference on March 20. Nam underlined the significance of the event, saying that it aims to introduce the city’s socio-economic achievements and potential, as well as policies on investment attraction to domestic and international partners. The conference will be chaired by the Prime Minister, the Minister of Planning and Investment, the Secretary of the municipal Party Committee, and the Chairman of the municipal People’s Committee. It is expected to welcome 500 delegates, including 100 foreigners. A ceremony will be held in the framework of the conference to present investment scheme and investment … [Read more...] about Can Tho conference to promote investment in logistics, tourism, IT