ABBank targets $42 mln in pre-tax profit, to go public in 5 years
An Binh Commercial Joint Stock Bank (ABBank) has targeted pre-tax profits of VND1 trillion ($41.6 million) this year, up 94.5% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Private lender Eximbank asked to clarify inflated 11-year credit card debt
State Bank of Vietnam (SBV) Governor Nguyen Thi Hong has requested private lender Eximbank to urgently handle a controversial case regarding an 11-year credit card debt to protect a customer's legitimate interests.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Developers should lower real estate prices to pay bond debts: economist
Maturity pressure will remain a major obstacle for the Vietnamese corporate bond market in 2024, forcing businesses to sell or swap assets, writes economist Le Xuan Nghia, a member of the National Financial and Monetary Policy Advisory Council.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
State-controlled Vietcombank reaps $1.69 bln in 2023 pre-tax profit
Vietcombank, the largest Vietnamese lender by market capitalization, saw its 2023 pre-tax profit expand 10.2% year-on-year to VND41.2 trillion ($1.69 billion), exceeding the yearly plan by 0.3%, according to the lender’s estimates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
How leading Vietnam brewer Habeco has 'surfed rough waves'
Facing continuous difficulties in terms of policies, consumer markets and input materials, Habeco – a 60-year-old Vietnamese beer brand - has applied innovative solutions over the years to enhance its products, sales channels and inventory management in order to survive.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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 tourism developer Andesco caught up in $3 mln debt row
An Giang Tourism Development JSC (Andesco) has refused to enter bankruptcy proceedings despite confirmed debt of nearly VND73 billion ($2.97 million) to TL Construction Investment & Design Consulting Ltd.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
DLGL group protests ‘illegal’ court decision on opening bankruptcy proceedings
Duc Long Gia Lai Group JSC (DLGL) has lodged a complaint to the People’s Court of Gia Lai province in Vietnam's Central Highlands, saying the court's decision to open bankruptcy proceedings against it goes against current regulations.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Banks race to reduce lending rates to facilitate debt repayments
Big commercial banks have launched new loan packages with low interest rates of only 5.6-8% per year to help customers repay their debts at other banks.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Economist points out challenges in Vietnam's personal financial market
There remains a lack of competence when it comes to handling debt in Vietnam, with the proliferation of black credit serving as the most prominent example, according to economist Can Van Luc.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
VietinBank plans to offload $249 mln debt in shipbuilding firm Nosco Shipyard
VietinBank's Dong Da branch in Hanoi plans to auction a debt of VND5.85 trillion ($249.3 million) in Vietnamese shipbuilding company Nosco Shipyard JSC on June 7, 2023.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Policy tools should be applied flexibly to support struggling enterprises: Fulbright expert
Vietnam needs to flexibly apply policy tools that have a legal basis to remove difficulties for struggling businesses in all economic sectors, Do Thien Anh Tuan, lecturer from the Fulbright School of Public Policy and Management, tells The Investor.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
New circulars to promote credit growth: securities broker
The State Bank of Vietnam’s (SBV) two new circulars are expected to have positive impacts on banks with a high proportion of real estate or consumer loans, and promote credit growth amid excess bank liquidity, according to top Vietnamese broker VNDirect.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
F88 responds to police probe of 5 staff members
Vietnamese financial services firm F88 confirmed Friday that Ho Chi Minh City police are investigating five of its debt collectors, and that it would not conceal any individuals' wrongdoings, if any.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam firms likely to suffer from Credit Suisse downfall
The downfall of Credit Suisse, Switzerland's second-largest bank, is likely to pose problems for some Vietnamese corporations that had used the creditor to conduct business deals with.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Agribank to auction Tan Hoang Minh property to recover debt
Agribank's Trang An branch has announced the auction of a series of collateral assets of THM-Concrete Production and Trading JSC, a subsidiary of property developer Tan Hoang Minh Group, to recover debts.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
BCG Energy, Hanwha Energy agree new bond payment deadline
Vietnamese power firm BCG Energy and its partner Hanwha Energy have concluded a new timeline for the former to pay the latter part of an overdue bond.
Bamboo Capital - Mon, Dec 22, 2021 | 11:30 am GMT+7
Properties as collateral pose bad debt risks amidst current downturn
Real estate accounted for about 60% of collateral for loans at 14 banks as of end-June, up 12.7% in value against end-2021, per data collected by The Investor.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Seatle-based SSA’s Vietnam joint venture may get $24 mln for shake-up
Saigon Port JSC is waiting for its shareholders’ nod to loan $24 million to the firm operating Saigon Port-SSA International Terminal for its financial restructuring.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Corporate bond market stagnant for eight months
After the market was tightened up over transparency concerns, the issuance of corporate bonds in Vietnam has slowed significantly, latest data shows.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
FPT Retail debt hits record high
FPT Retail’s profit rose nearly 20 times year-on-year in 2021, but its liabilities were 5.4 times more than equity, mainly short-term debt.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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