VinaCapital officially ends investment in poultry firm Ba Huan Ba Huan JSC, the country's leading pasteurized eggs and poultry meat producer, has decreased its charter capital from VND280 billion (US$12 million) to VND222 billion (US$9.53 million), effectively ending the involvement of VinaCapital, one of the two largest asset management firms in Vietnam, with the company. This results in an increase in the stake holding of domestic shareholders from 66.2% to 83.6%, of which Ba Huan's Director Pham Thi Huan owns 64%. In Feburary, VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) invested US$32.5 million to acquire a significant minority stake in Ba Huan. However, in early July, Ba Huan sought Prime Minister Nguyen Xuan Phuc's intervention in terminating its partnership with VinaCapital. The firm said there were differences between the English and Vietnamese versions of the agreement and the terms were not what the two parties had agreed initially. Among … [Read more...] about BUSINESS NEWS IN BRIEF 10/10
What banks offer secured credit cards
Tien Phong Commercial Joint Stock Bank (TPBank) has been allotted a 15 per cent credit growth quota in 2018, but it used up 14.5 per cent right in the first half of the year.— Photo vneconomy.vn Tien Phong Commercial Joint Stock Bank (TPBank) has been allotted a 15 per cent credit growth quota in 2018, but it used up 14.5 per cent right in the first half of the year. Some other banks have limits ranging from 9 per cent to 12 per cent. The State Bank of Viet Nam (SBV) sets credit growth limits for each bank depending on its health at the beginning of the year to regulate overall credit growth and to support government targets. This year the SBV set a target of 17 per cent for the industry, lower than last year’s figure of 18.2 per cent. Many banks are likely to seek an increase in their credit limits like they did in previous years when they used up their assigned quota halfway through the year. In the last few years the SBV has increased credit limits for certain banks … [Read more...] about Calls again for scrapping credit growth limits for banks
Since using this modern payment application, my life has positively changed. As a person who was always cautious of managing money, I used to trusted in cash payment only. However I have changed my payment habit. It is now only with a cellphone, all of my ATM cards and membership cards are fully integrated with Samsung Pay, and above all others, it is still absolutely secured. Have you ever experienced the feeling of regretfully looking at your favorite items sold to somebody else, or how embarrassing it is when your money is not enough to pay for a coffee bill? Having gone through all of these, I shall share a tip to stay away from these troubles. The strong need of e-payment solution In the past, I only trust in things that I was sure of. Especially, I was very cautious of what I considered to be risky like crediting all my money to cards. It was partly due to my habits, and partly due to the obsession with the ATM card theft, I was not so interested in card payment. That was why … [Read more...] about How did my cash payment habits change?
Barry Weisblatt, head of research at Viet Capital Securities What is your outlook for the Vietnamese banking sector? We are generally quite positive in our outlook for the Vietnamese banking sector. 18 per cent credit growth was quite solid in 2017 and was not the kind of window dressing we have seen in previous years where growth accelerates in the last two weeks of the year to reach the SBV’s target but, rather, was stable throughout the year. Moreover, we are seeing a shift into retail lending, which is having several positive impacts. First, the higher yields on retail assets helped keep net interest margins (NIMs) of the banks we cover stable at 2.99 per cent despite rising funding costs. Second, we are seeing non-interest income (NOII) make a more significant contribution to banks’ bottom lines. NOII increased from 12 per cent of Total Operating Income (TOI) for our coverage universe to 18 per cent in just two years due to triple-digit increases at some banks. Much … [Read more...] about The bright outlook for Techcombank
VietNamNet Bridge – Nguyen Hoang Minh, deputy director of the State Bank of Viet Nam Branch in Ho Chi Minh City, talks to Hai Quan (Customs) newspaper about switching from a cash payment society to a non-cash payment society. Nguyen Hoang Minh. — Photo Bizlive What do you think about online payment platforms in Viet Nam? In 2012, the Government issued Decree 101/2012/NĐ-CP on online payment. By 2016, the decree was revised in line with the rapid development of online payment platforms and it came into force on July 1st, 2016. The biggest impact of Decree 101 is its legal elements. The document created a legal corridor for the fast development of non-cash payments in the country’s economic system. That legal system has provided favourable conditions for all economic entities, including enterprises, credit organisations and … [Read more...] about Online payment is the best choice