BIDV, Hana securities units kick off strategic cooperation
The securities arms of South Korea’s Hana Financial Group and Vietnam's leading bank BIDV have launched a strategic partnership, aimed to boost the Vietnamese broker’s digital transformation.
“The strategic partnership focuses on joint efforts to effectively develop digital transformation, expansion of new business areas, and application of an advanced risk management system,” Lee Eun Hyung, vice chairman of Hana Financial Group and CEO of Hana Securities, said at the partnership launch in Hanoi Wednesday.
Ngo Van Dung, CEO of BIDV Securities (BSC) and a board member of BIDV, said, “This key milestone motivates us to boost business activities, invest more in information technology, carry out comprehensive digital transformation, and keep developing our banking and financial services ecosystem."
“It will help us accelerate our 2025 goal of becoming one of the leading securities companies in Vietnam with substantial contributions to the sustainable development of the Vietnamese stock market,” he added.
BIDV Securities and Hana Securities embark on their strategic partnership in Hanoi on August 3, 2022. Photo courtesy of BIDV.
The two sides expect the partnership to help BSC improve brokerage service quality, enlarge its customer base via digital transformation, and expand its business into fund management.
BIDV, one of Vietnam’s leading banks by assets, in 2019 transferred a 15% stake to Hana Bank of Hana Financial Group for around $875 million.
Then, Hana Financial Investment Co., a subsidiary of the group, acquired a 35% stake in BSC for almost $117 million this April.
BIDV is the largest shareholder in BSC, holding an almost 80% stake. BSC's main business activities include securities brokerage, underwriting, investment consulting, derivatives trading, proprietary trading, and investment banking.
- Related News
- Read More
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
Vietnam's stock market attractively priced: Finnish fund PYN Elite
Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.
Finance - Fri, May 30, 2025 | 2:09 pm GMT+7
S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman
SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.
Energy - Fri, May 30, 2025 | 1:37 pm GMT+7
Vietnam's Hoa Phat Group to become Southeast Asia’s first producer of steel rails for high-speed railways
Hoa Phat Group, a top steelmaker in Vietnam, on Thursday signed an agreement with Germany’s SMS Group under which the latter will provide the former technology and production lines for manufacturing steel rails and shaped steel, with an annual capacity of 700,000 tons.
Companies - Fri, May 30, 2025 | 11:48 am GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 9:00 am GMT+7
Vietnam's telco giant Viettel signs deal with France’s John Cockerill Defense
Viettel High Tech, the core military and civilian R&D arm of Vietnam’s military-run telecom giant Viettel, has signed a cooperation agreement with John Cockerill Defense, a leading weapon designer and manufacturer in France.
Companies - Thu, May 29, 2025 | 9:14 pm GMT+7
MB showcases comprehensive financial solution Biz MBBank at Digital Transformation Day event
Vietnam's leading bank MB on Thursday introduced its latest digital technology solutions, notably the Biz MBBank digital financial platform, at the "Smart Digital Ecosystem in the New Era" event organized by the central bank.
Companies - Thu, May 29, 2025 | 8:02 pm GMT+7
Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
Companies - Thu, May 29, 2025 | 4:45 pm GMT+7
US's Excelerate Energy affirms intention to turn Vietnam into LNG hub for ASEAN
Excelerate Energy wants to make Vietnam a center for LNG distribution to the ASEAN region, president and CEO Steven Kobos told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Thursday.
Energy - Thu, May 29, 2025 | 4:33 pm GMT+7
Bourse shifts to heat up Vietnam's banking stocks
Several Vietnamese banks are planning to move their shares from the Unlisted Public Companies Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) this year, creating new momentum for banking stocks, long dubbed the “king” group.
Finance - Thu, May 29, 2025 | 2:48 pm GMT+7
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7
2024 cyberattack 'a blessing in disguise' for Vietnam's leading broker VNDirect: chairwoman
The cybersecurity breach that major Vietnamese brokerage VNDirect Securities encountered in 2024 was "an unfortunate incident, but also a lucky chance", chairwoman Pham Minh Huong said on Wednesday.
Finance - Thu, May 29, 2025 | 9:48 am GMT+7
Vietnam prioritizes smart, green seaport projects: Deputy PM
Vietnam encourages smart and green seaport investments, as technical barriers related to CO2 emissions and CO2 taxes begin to be tightened up globally.
Infrastructure - Wed, May 28, 2025 | 10:07 pm GMT+7
New Zealand, Vietnam expand timber trade partnership
New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the two countries' forestry sectors.
Companies - Wed, May 28, 2025 | 8:53 pm GMT+7
Norway vows to support Vietnam's energy transition
Norway is committed to supporting Vietnam’s energy transition, Norwegian Ambassador to Vietnam Hilde Solbakken said at a technical seminar held in Hanoi on Wednesday.
Companies - Wed, May 28, 2025 | 8:49 pm GMT+7
Thailand expected to become regional luxury retail hub
Thailand's luxury retail market is valued at $4.4 billion and projected to grow by approximately 5% annually through 2028, placing the country at the forefront of luxury retail in Southeast Asia and seventh in Asia-Pacific, according to property consultant CBRE Thailand.
Southeast Asia - Wed, May 28, 2025 | 8:44 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?
