In 2016 and the first half of 2017, Vietnam has seen a series of multimillion dollar mergers and acquisitions (M&A) deals. Here is the list of Vietnam’s top merger and acquisition deals (The List 50) announced at this morning press conference organised by VIR and AVM Vietnam. Outstanding merger deals 1. TTC and Bien Hoa Sugar Thanh Thanh Cong Tay Ninh Sugar JSC (TTCS) will make a share swap to fully acquire Bien Hoa Sugar Joint Stock Company (JSC) in order to become the biggest sugar producer in Vietnam. TTCS will issue nearly 304 million shares to convert all outstanding shares of Bien Hoa Sugar at a ratio of 1:1.02. The conversion ratio was calculated by a third-party company that valued the shares of TTCS and Bien Hoa Sugar at VND20,944 ($0.92) and VND21,356 ($0.94), respectively. The deal will be carried out within 90 days (plus extensions if needed), starting from the day TTCS receives the permit from the … [Read more...] about List of the largest M&A deals in Vietnam in 2016-2017
Assets and liabilities of bank
HSBC launches its own VN bank (06-01-2009) HCM CITY — HSBC officially launched its own local bank, HSBC Bank (Viet Nam) Ltd yesterday. This is the first 100 per cent foreign-owned bank inaugurated in the country, following approvals granted by the State Bank of Viet Nam last September. "This is a great milestone for HSBC in Viet Nam and demonstrates our strong growth in developing markets and commitment to the development of Viet Nam's financial and banking sector," said Thomas Tobin, CEO of the new bank. "Despite the turbulent market conditions in 2008, we see the underlying potential of the Vietnamese economy with its dynamic workforce, stable pro-growth Government, and rich natural resources," he added. Operating as a locally incorporated entity would enable the HSBC to increase participation in the country's fast growing economy and financial markets with the best international banking practice and world-class services, Tobin said. "Local incorporation will give us a platform … [Read more...] about HSBC launches its own VN bank
ACB named best bank in Viet Nam for third time (30-07-2009) Customers complete transactions at the Asia Commercial Bank's headquarters. — VNA/VNS Photo Hoang Hai HA NOI — The Asia Commercial Bank was recently named the "Best Bank in Viet Nam" by Euromoney, a global financial magazine. This is the third time that ACB has received the award - the first time was in 1997 and the second in 2006. The bank received the recognition after maintaining sustainable growth and high-quality assets amidst the global recession. The award took into account the volume of business transacted, innovation, leadership, credit ratings, quality of assets and earnings, efficiency ratios and key performance indicators. The bank has recently been involved in securities, assets and liabilities management and financial leasing. Since December 2008, the bank's charter capital has been over VND6.35 trillion (US$353.9 million). Last year, the bank attained a profit of VND2.56 trillion … [Read more...] about ACB named best bank in Viet Nam for third time
According to director of the Institute of Finance Science Nguyen Thi Mui, shortcomings in the supply of banking services during recent times is due to the fact that banking service suppliers have been developing remarkably. But their financial status is suffering from limited equity capital, low profit and high levels of bad debt, thus reducing their capacity to mobilise capital, loan and develop new products, as well as creating high risks in business operations. Vietnam's commercial banking services do not have their own trademark, and the scale of each service has been limited with poor quality and weak competitiveness. In addition, banking services are not very convenient for customers, while marketing activities are limited. Therefore, only a few customers get access to banking services. To resolve these shortcomings, it is essential to implement intensive measures to develop banking services in Vietnam, such as increasing the financial status of commercial banks, diversifying … [Read more...] about Boosting banking services in the integration process
Hanoi Times -There are 5 main reasons for this problem, resulting from the side both commercial banks and customers. To this moment, according to the State Bank's report, the liquidity of the banking system is ensured and the excess of capital spare is at a high level. It is time for bankers and professionals to gather within the framework of the seminar taking place last weekend under the organization of Lien Viet Bank and the Institute of Banking to figure out the reasons lying behind the intensity in liquidity emerging at the beginning this year. The seminar focused on the 5 following main reasons. Firstly, the intensity in liquidity was due to overheating growth of credit market. That commercial banks' credit grew 53.89% in 2007 was too hot in comparison with economic growth and the speed of capital mobilization, said associated professor-doctor Nguyen Thi Mui-Vice director of the Institute of Banking. Doctor To Ngoc Hung, director of the Institute of Baking, added: … [Read more...] about What lies behind commercial banks’ liquidity difficulty?