Joint stock investment bank

Vietnamese banks are expected to deliver 15 per cent to 21 per cent return on equity over the next two years. — Photo VCB The Vietnamese banking sector is an attractive investment opportunity because it is generating a lot of capital and growing fast, according to a senior banker at JP Morgan. It is a rare combination where Vietnamese banks are growing fast and are quite profitable, Harsh Modi, co-head of Asia ex-Japan for financials research at the investment bank, told CNBC. As such, they are able to sustain high growth without needing too much capital for long periods of time “The return on equity that they’re generating is quite high. The return is higher than balance sheet growth,” Modi said. "What that implies is Vietnamese banks theoretically do not need to raise capital to fund current growth, but they do so, anyway, for purposes like having higher capital ratios and satisfying regulatory requirements." As a result, without putting in a lot of money, … [Read more...] about JP Morgan bullish on Vietnamese banks thanks to high growth, profitability

Stock Market Large-cap stocks buoy market recovery The Saigon Times Daily Wednesday,  Dec 11, 2019,19:21 (GMT+7) Large-cap stocks buoy market recoveryThe Saigon Times Daily Two investors look at the electronic stock price quotation board at Maybank Kim Eng Securities Company. The local stock market recovered today, December 11, with the VN-Index rising 1.48 points - PHOTO: THANH HOA HCMC – The local stock market recovered today, December 11, with the VN-Index rising 1.48 points, or 0.15%, at 961.78, backed by the rising prices of large-cap stocks. On the Hochiminh Stock Exchange, the VN-Index rebounded and hit its highest level of the day after falling below the reference mark. There were 216.5 million shares worth nearly VND4.4 trillion changing hands, down 10.8% in volume and 12.6% in value over the session earlier. In block deals, 57.9 million shares were traded with a total value of nearly VND1.5 trillion. … [Read more...] about Large-cap stocks buoy market recovery

Overall, on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, 101 stocks gained and 206 stocks lost at the end of Monday session. Vietnam’s index for its 30 highest market cap stocks, the VN30-Index, fell 0.89 percent to 892.48 points. The HNX-Index, which represents a separate market for smaller and mid-cap stocks, fell 0.43 percent, and the UPCoM-Index for unlisted public companies fell 0.71 percent. Blue-chips, real estate and oil and gas stocks were mostly losers in this session, with 12 stocks falling by above 2 percent. GAS shares of state-owned oil and gas corporation PetroVietnam Gas JSC fell 2.5 percent, and CTD shares of construction giant Coteccons dropped 2.9 percent. VIC shares of private conglomerate Vingroup and VHM shares of its real estate arm, the two largest market cap stocks on HoSE, also lost 0.2 and 1.1 percent respectively. The only exception to the general selling trend of the market were some banking stocks, such as MBB of … [Read more...] about Stock market down as trade war escalates

Production at the Hoya Glass Disk Vietnam Company in Thang Long Industrial Park, Hanoi. The capital city attracted 7 billion USD in FDI in the first 11 months this year. (Photo: kinhtedothi.vn)   Hanoi (VNA) - Hanoi attracted the most foreign direct investment (FDI) in Vietnam during the first 11 months of this year with 7 billion USD, accounting for nearly a quarter of the total, according to the Hanoi Department of Planning and Investment. This figure was higher than the 6.3 billion USD registered in the same period last year. Total registered investment capital for new projects and additions to existing projects reached about 2.1 billion USD, including 1.6 million USD for 788 new projects and 580 million USD for 160 existing projects. During the 11 months, foreign investors poured 5.3 billion USD into Hanoi through capital contributions and share purchases. Foreign investors have chosen Hanoi thanks to its good infrastructure, completed industrial zones and convenient … [Read more...] about Hanoi attracts most investment in 11 months

The shareholders’ meetings of HDBank and PGBank were both organized on April 21. All of PGBank’s shareholders agreed on a plan to merge PGBank and HDBank, while 94.3% of shareholders agreed to do so for HDBank. The merger of two banks will start soon, with share conversion in July and the merger wrapped up in August. The schedule was a surprise to the finance community. Just days before, on March 29, when asked about the bank’s M&A plan, CEO of MBBank Luu Trung Thai said MBBank was still considering banks for the plan, including PGBank.  Now, as PGBank has decided to merge with HDBank, MBBank will have to look for another partner. At the 2018 shareholders’ meeting, LienViet Post Bank stated it was considering raising charter capital, restructuring shareholders, completing an M&A, and restructuring credit institutions as requested by the State Bank. Duong Cong Minh, former chair of LienViet Post Bank, is now chair of Sacombank. Nguyen Van Huynh, who … [Read more...] about Commercial banks discuss M&As – again