Real estate giant DIC Corp notches biggest quarterly loss since listing

Real estate giant DIC Corp notches biggest quarterly loss since listing

Development Investment Construction JSC (DIC Corp), among Vietnam’s top real estate developers, incurred a loss of VND117.2 billion ($4.62 million) in the first quarter of this year, marking its largest quarterly loss since floating shares in 2009.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank circular does not prohibit loans to buy future-formed houses

Vietnam central bank circular does not prohibit loans to buy future-formed houses

Circular No. 22/2023 of the State Bank of Vietnam (SBV) basically does not affect access to loans to buy future-formed houses mortgaged by those houses as some people fear, writes Nguyen Van Dinh, a real estate legal expert.

Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7

National Citizen Bank elects two new board members

National Citizen Bank elects two new board members

Vietnam's National Citizen Bank (NCB) on Saturday appointed two new board members for the 2020-2025 tenure.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Van Thinh Phat Group chairwoman-related assets frozen

Van Thinh Phat Group chairwoman-related assets frozen

The Ministry of Public Security's investigative agency has frozen 22 assets including one yacht, two ships and 19 cars belonging to Truong My Lan, chairwoman of Ho Chi Minh City-based real estate developer Van Thinh Phat Group, and other legal entities.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Two of Vietnam’s ‘Big 4’ banks report double-digit profit growth

Two of Vietnam’s ‘Big 4’ banks report double-digit profit growth

BIDV and VietinBank, both state-controlled banks in Vietnam, recorded respective pre-tax profit growth of 12% and 10% year-on-year in the first nine months of this year.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam private lender Bac A Bank’s Q3 pre-tax profit plunges 73%

Vietnam private lender Bac A Bank’s Q3 pre-tax profit plunges 73%

Vietnamese private lender Bac A Bank posted a 73% year-on-year decline in its pre-tax profit to VND77 billion ($3.15 million) in the third quarter of 2023, it lowest quarterly level since Q3/2015, according to its financial statement.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Major firms sell off assets on the cheap amid credit crunch: minister

Major firms sell off assets on the cheap amid credit crunch: minister

Cash flow troubles have forced many major companies in Vietnam to sell off assets at prices much lower than their market value, Minister of Planning and Investment Nguyen Chi Dung said on Tuesday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Former Quang Ninh education leader’s assets frozen

Former Quang Ninh education leader’s assets frozen

The Ministry of Public Security's investigative agency has ordered the sizeable assets of Vu Lien Oanh, former director of Quang Ninh province's Department of Education and Training, to be frozen.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

Death-row prisoner looks to resurrect business: my land assets worth billions now

Death-row prisoner looks to resurrect business: my land assets worth billions now

Lien Khui Thin was one of the most well-known entrepreneurs in Vietnam in the 1990s. He was sentenced to death in 2000 in the major Epco-Minh Phung scam. The sentence was commuted to life imprisonment in 2003 and he was freed in 2009 under an amnesty program to become an entrepreneur again.

Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7

Collectius makes $800 mln non-performing loan purchase in Vietnam

Collectius makes $800 mln non-performing loan purchase in Vietnam

Collectius, a debt restructuring partner for financial institutions across Southeast Asia, has acquired more than $800 million in non-performing loans (NPLs) from a Vietnam-based commercial bank.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Banking profit margins not high: State Bank governor

Banking profit margins not high: State Bank governor

State Bank Governor Nguyen Thi Hong on Thursday rejected allegations that banking profits were huge when the Covid-19 pandemic wrecked havoc on the local business community.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Police request freezing former FLC chairman’s assets

Police request freezing former FLC chairman’s assets

The Ministry of Public Security has requested localities to freeze assets and shares owned by former FLC Chairman Trinh Van Quyet who was recently arrested for alleged stock market manipulation.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7