Techcombank i bank

Inside a factory of Hoa Phat Group (HPG). HPG increased 5 per cent on Monday. — VNA/VNS Photo Vietnamese shares on Monday surpassed the 1,200-point mark, underpinned by steel and banking stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.46 per cent, to 1,202.82 points. The benchmark last week registered a weekly decrease of 2.6 per cent. Nearly 527 million shares were traded on the southern bourse, equivalent to VND12.3 trillion (US$529 million). Market breadth was positive with 116 losers and 340 gainers. In the banking group, most of the stocks gained ground including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB). Vietcombank (VCB) was the only decliner in the group. Steel stocks also attracted cash flow with gainers including Hoa Sen Group (HSG) rising 5.3 per … [Read more...] about Market surpasses 1,200-point mark thanks to steel, banking stocks

Customers conduct banking transactions at a Vietcombank branch. The bank tops the list of the 10 most prestigious commercial banks in Vietnam in 2022. - Photo baochinhphu.vn The 10 banks honoured as the most prestigious commercial banks in the country are Vietcombank, VietinBank, Techcombank, Military Bank, VPBank, ACB, BIDV, TPBank, VIB and AgriBank. Meanwhile, the list of the 10 most prestigious private joint-stock banks comprises Techcombank, VPBank, ACB, TPBank, VIB, HDBank, Sacombank, SHB, OCB and MSB. The banks have been ranked based on three criteria: financial capacity shown on the latest financial statement, credibility on media evaluated by the Media Coding method, and stakeholder opinions collected in a survey in June. The survey also showed that 48 per cent of bank customers think the banking industry has been playing a leading role in the country's economic recovery, 77 per cent think banks have been maintaining decent customer services, and 58.9 per cent think … [Read more...] about Vietnam Report announces Top 10 prestigious banks

Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago.— Photo datxanhgiatrithuc.com Tran Trung Thanh, a real estate broker in Binh Thuan and Ba Ria-Vung Tau provinces, said since the beginning of April demand for agricultural lands has seen a sharp slump. The number of people who want to sell land is higher than those who want to buy, he said. Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago. Even the housing segment has shown signs of slowing down in many localities due to falling demand on both the primary and secondary markets. HCM City is a typical example. The country’s economic hub always has high demand for housing and faces a serious shortage of … [Read more...] about Real estate market slumps as banks cut off funds

Facilities of Binh Son Refining and Petrochemical Company Limited (BSR) in the central province of Quang Ngai. BSR rose 2.8 per cent on Wednesday. Photo bsr.com.vn Vietnamese shares rose on Wednesday, propped up by a slew of banking and energy stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.27 per cent, to 1,218.10 points. The benchmark increased 1.46 per cent, to close Tuesday at 1,202.82 points. More than 588.4 million shares were traded on the southern bourse, equivalent to VND14.4 trillion (US$619 million). Market breadth was positive with 136 losers and 326 gainers. Banking stocks were darlings of the market with gainers including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB), Saigon-Hanoi Commercial JS Bank (SHB), Tien Phong Bank (TPB) and Vietcombank (VCB). Energy stocks gained ground with gainers such as Viet Nam National … [Read more...] about Shares extend gains, bolstered by bank and energy sectors

Illustrative image Asso. Prof. Dr. DANG NGOC DUC, former Director of the Institute of Banking and Finance at the National Economics University shared his thoughts on this issue with Saigon Investment recently. JOURNALIST: - Sir, many commercial banks are running out of credit room while needing to increase credit balance to support the economic recovery. Many experts believe that controlling credit growth by granting an annual credit limit to commercial banks is an administrative measure that is no longer appropriate. What is your opinion on this issue? Asso. Prof. Dr. DANG NGOC DUC: - The credit limit has been used by the State Bank of Vietnam as a tool to control credit growth since 2011. The Governor of the State Bank of Vietnam said that this is a very effective measure to keep the credit market stable and has prevented interest rate to increase the scale of deposits and loans. The use of credit limit tools for commercial banks is based on three basic objectives. First, … [Read more...] about Current credit room no longer suitable

The index closed 3.2 points lower after losing over 41 points this week. Trading on the Ho Chi Minh Stock Exchange fell by 15.6 percent to VND13.31 trillion ($572.7 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 15 tickers gain, with SSI of leading brokerage SSI Securities and STB of HCMC-based lender Sacombank closing at ceiling prices. They gained 6.9 and 6.8 percent, respectively. Three bank stocks, TCB of Techcombank, MBB of MBBank and VPB of VPBank, followed, rising 4.4 to 5.5 percent. Other winners included HPG of steel giant Hoa Phat, up 3.4 percent, and ACB of lender Asia Commercial Bank, up 3.3 percent. Twelve blue chips fell, led by two energy tickers: GAS of Petrovietnam Gas and POW of Petrovietnam Power. They both hit floor prices, losing 6.8-6.9 percent. FPT of IT giant FPT Corp closed 5.2 percent lower, and MWG of electronics retailer Mobile World dropped 5 percent. Foreign investors were net buyers to the tune of VND24.1 … [Read more...] about VN-Index hits 14-month low