Regions bank stock

Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us to deliver stellar performance year after year,” said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a “stable and cheap” source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks

Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum

There should be special mechanisms for economic ties between the two countries. The governments of Vietnam and Laos are closely working on the construction of the Hanoi-Vientiane expressway project that will facilitate sea access to land-locked Laos. Chairman of Vietnam’s National Assembly Vuong Dinh Hue speaks with Vietnamese businesses in Laos on May 15. Photos: Quochoi The information was released by Chairman Vuong Dinh Hue of Vietnam’s National Assembly who is on his three-day visit to Lao starting on May 15. Hanoi-Vientiane expressway, which is being built with funding from Japan, will enable Laos to access the sea in Vung Ang Seaport, Vietnam’s central province of Ha Tinh. Launched in 2016, the 725-km project, with an estimated investment of US$4.5 billion, is expected to boost economic connectivity between the two countries and Thailand’s northeast. Hue said the two countries' economic ties need to be boosted to become commensurate to the strong … [Read more...] about Vietnam, Laos boost construction of road linking two capital cities