Archive for February 27th, 2019
VN Index climbs, nearing 1,000 points
Vietnamese shares advanced on Monday with positive investor confidence in global market moves, but strong selling pressure could be a challenge in the coming days. The [...]
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Stock market briefs
Mobile World Investment Group (MWG) has decided to inject VND1 trillion into Bach Hoa Xanh grocery store chain in the first quarter of 2019. Bach Hoa Xanh has been expanding [...]
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VN Index fails to beat 1,000 points
Local stocks advanced for the sixth session in a row today, February 25, but the VN Index of the Hochiminh Stock Exchange still failed to beat the 1,000-point mark due to a [...]
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Hong Kong International Diamond, Gem & Pearl Show opens
LegCo president Andrew Leung officiates at today&aposs opening ceremony HONG KONG, Feb 26, 2019 – (ACN Newswire) – Organised by the Hong Kong Trade [...]
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Credit limit to double for the poor
The government will double the credit limit for poor people seeking loans without collateral, as part of efforts to reduce poverty and prevent loan sharks. Under a new [...]
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Vietnam raises over $2b via G-bond channel in first months of 2019
The State Treasury of Vietnam has so far this year raised more than VND51.24 trillion (US$2.19 billion) via government bond (G-bond) auctions on the Hanoi Stock Exchange [...]
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Higher foreign ownership imperative, say banks
Last August prime minister Nguyen Xuan Phuc issued Decision No.986/QD-TTg on the Development Strategy of the Banking Sector. It caps the government’s ownership of the [...]
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AEON wants to invest in Vietnam’s financial sector
The AEON Financial Service (AFS) Co. Ltd, the owner of Japan’s AEON retail chain, wants to expand its financial services in Vietnam through merge and acquisition [...]
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Exploiting bancassurance ‘gold mine’
Distributing life insurance products through banks is considered a golden potential for businesses with its strong growth in the recent time. The typical case is the [...]
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State ownership at least 65pct after Agribank’s IPO: deputy PM
State ownership at Vietnam Bank for Agriculture and Rural Development (Agribank) will remain at approximately 65 percent in the upcoming period, after the bank launched its [...]
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The root cause leads to many banks’ losses
Bad debts were partly pushed back, but newly arising bad debts made the risk provision increase sharply in the last quarter of the year, leading to heavy losses in Q4/ 2018. [...]
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Reference exchange rate down 1 VND
The State Bank of Vietnam set the daily reference exchange rate on February 26 at 22,910 VND per USD, down 1 VND from the previous day. With the current trading band of +/- 3 [...]
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Investors flock to bond funds
Interest from savings is increasing, reaching the highest level of 8-8.5 percent per year in many banks such as Viet Capital Joint Stock Commercial Bank (Ban Viet), Vietnam [...]
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Vietnamese banks have higher profitability than other banks in marginal markets
According to Viet Dragon Securities Company (VDSC), in 2018 2020 period, the profitability of Vietnamese banks is higher than other banks in regional markets with average [...]
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Credit for securities business increases by 15pct in 2018
The State Bank of Vietnam (SBV)’s deputy Governor said that securities business was one of the significant contributions of the banking system for increase of [...]
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