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Meanwhile, provision expenses dropped 7 per cent to VND605 billion as its non-performing loan ratio declined to 1.7 per cent from 2.2 per cent. The bank also reacquired all bad debts it sold to the Viet Nam Asset Management Company. … [Read more...] about VIB’s pre-tax profit skyrockets in 2019

However, the supply of premium and luxury apartment seems abundant, especially when you take into consideration projects under construction. With this, we estimate that Ho Chi Minh City could have close to three prime apartments per 1,000 persons, close to the average in Bangkok, Kuala Lumpur and Manila, but higher than Jakarta. The government is seeking ways to encourage developers to undertake more affordable housing projects to meet the housing needs of the city. … [Read more...] about Foreign investors ready to invest big in Vietnam housing

Thanks to the exploitation of existing individual customer base and search for new customers, as well as the expansion of the ecosystem via diverse financial products and services, profit generated from the individual customer segment has risen by more than 120 per cent compared to 2018. This is the strongest growth recorded in the individual customers segment of VPBank so far. … [Read more...] about VPBank annouces record pre-tax profit in 2019

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

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