Banking sector

Growing attractiveness of Vietnamese banks' shares is thanks to a positive revamp and strong outlook of the sector, particularly as Vietnam is accelerating global economic integration. Billions of USD is being poured into the Vietnamese banking sector, indicating its growing attractiveness in the eyes of investors and leading to expectation that a major change is coming to one of the economy’s key fields.  Banks with positive performance over the last two years.  A few days ago, state-run Commercial Bank for Investment and Development of Vietnam (BIDV) announced South Korea’s KEB Hana Bank as its first foreign strategic shareholder after the latter closed a deal worth VND20.3 trillion (US$875 million) to buy a 15% stake of of BIDV, making this the biggest M&A deal in Vietnam’s banking industry. The deal helped boost BIDV’s charter capital to over VND40.2 trillion (US$1.7 billion), the highest amount among banks operating in Vietnam A … [Read more...] about Vietnam’s banking sector becomes more attractive to investors

Financial Markets Top audit regulator may look into debt-laden banks next year The Saigon Times Daily Monday,  Nov 18, 2019,16:30 (GMT+7) Top audit regulator may look into debt-laden banks next yearThe Saigon Times Daily Customers transact at a bank in HCMC. Lawmakers have urged the country’s top audit regulator to look into three loss-making banks – PHOTO: THANH HOA HCMC – National Assembly deputies have called on the State Audit of Vietnam (SAV) to inspect three debt-laden banks that were earlier taken over by the State Bank of Vietnam, according to NA Secretary Nguyen Hanh Phuc. Ho Duc Phoc, auditor general of the SAV, said in a report sent to the legislative body that the SAV plans to audit a total of 146 agencies and organizations. In the corporate, financial and banking sectors, the SAV will inspect the State Bank of Vietnam, three commercial banks and 12 State-owned corporations. All of them … [Read more...] about Top audit regulator may look into debt-laden banks next year

  A job fair to help student find jobs being held at Hồng Bàng International University in HCM City in June. — VNS Photo Gia Lộc HCM CITY — High-tech manufacturing was the top sector in terms of demand for senior managers in the third quarter, according to executive search firm Navigos Search.    It was followed by fast-moving consumer goods, information technology, banking and finance, and professional services. At the same job level and position, high-tech manufacturing companies paid 2.5 times the salary that retail companies did and almost four times higher than the hospitality industry did. Investment from Hong Kong, Taiwan and China continues to increase sharply, resulting in a significant increase in demand for Chinese-speaking candidates. Most of these companies have factories in China and plan to expand or move a part or all of their production to Việt Nam, and so need personnel who can speak Chinese and work directly … [Read more...] about High-tech manufacturing sector tops recruitment in 3rd quarter

Illustrative image (Source: VNA) Hanoi (VNA) – The stock market’s growth in the first quarter of 2019 was fairly positive with 15 out of the 18 sectors gaining higher scores and a strong flow of money poured into the market through exchange traded funds. The statement was revealed by Dao Tuan Trung, head of the research centre at Vietinbank Securities, at a conference assessing the development prospects of Vietnam’s economy and stock market in 2019. He forecast that the profit growth of businesses listed on the Ho Chi Minh Stock Exchange (HOSE) will reach 7.51 percent this year. At the end of 2019, the VN-Index is projected to stand between 920 and 950 based on the anticipation of interest rate, profit and price-to-earnings ratio. According to Nguyen Duc Thanh, Director of the Institute for Economic and Policy Research (VEPR), Vietnam’s economy expanded by 6.79 percent in the first three months of this year. However, it depended heavily on … [Read more...] about Stock market sees positive growth in Q1

Investors at a stock trading floor in Hanoi. (Photo: vnreview.vn) Hanoi (VNS/VNA) - There are many securities products that are widely used in other countries but have not yet appeared on the Vietnamese stock market, said Phan Duc Hieu, deputy director of the Central Institute for Economic Management (CIEM). “This makes the Vietnamese stock market less attractive, affecting capital mobilisation of listed companies,” Hieu said at a seminar held in Hanoi on May 8, themed “Enhancing Vietnam's capital market accessibility”, co-organised by CIEM and the State Securities Commission (SSC). Participants at the seminar discussed solutions to offer new securities products to diversify the stock market and attract investors, helping businesses mobilise capital for production and development. According to SSC vice chairman Pham Hong Son, the securities sector has made great efforts to develop policies to attract foreign investment, raising the foreign ownership ratio in … [Read more...] about Stock market needs product impetus