2023: energy, electronics sectors shine bright as Vietnam attracts huge foreign investments

2023: energy, electronics sectors shine bright as Vietnam attracts huge foreign investments

Energy and electronics sectors hogged the limelight as registered foreign direct investment (FDI) in Vietnam reached $36.6 billion this year through December 20, up 32.1% year-on-year.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

SMBC to earn $48.6 mln dividend from VPBank weeks after becoming strategic investor

SMBC to earn $48.6 mln dividend from VPBank weeks after becoming strategic investor

Sumitomo Mitsui Banking Corporation (SMBC), the second-largest bank in Japan by total assets, will receive VND1.19 trillion ($48.6 million) worth of dividend from privately-run VPBank just weeks after becoming a strategic investor.

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

Japan's SMBC member entirely divests from Vietnam broker Petrovietnam Securities

Japan's SMBC member entirely divests from Vietnam broker Petrovietnam Securities

SMBC Nikko Securities Inc., a member of Japan’s Sumitomo Mitsui Banking Corp. (SMBC), is now no longer a major shareholder of Petrovietnam Securities JSC (PSI), according to the Hanoi Stock Exchange (HNX).

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

Major private lender VPBank to raise foreign ownership limit to 30%

Major private lender VPBank to raise foreign ownership limit to 30%

VPBank, Vietnam’s biggest lender in terms of charter capital, will increase its foreign ownership limit to 30%, from 17.642% at end-2022.

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

Thailand's KBank explores major Vietnam acquisition deal

Thailand's KBank explores major Vietnam acquisition deal

Thailand's second-biggest lender Kasikornbank said Wednesday it is exploring an acquisition deal in Vietnam but that it is still not the time to announce the result if any.

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

WB arm joins with Japanese lender to invest $60 mln in Vietnamese firms

WB arm joins with Japanese lender to invest $60 mln in Vietnamese firms

The World Bank’s IFC is making two new investments in Vietnam’s retail and agribusiness sectors to help strengthen the value chain and support food security in the country.

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

Japan's SMBC kicks off $200 mln fund to fuel Asian fintech startups

Japan's SMBC kicks off $200 mln fund to fuel Asian fintech startups

Japanese megabank SMBC has co-founded the corporate venture capital fund “SMBC Asia Rising Fund” with Tokyo-based venture capital firm Incubate Fund (IF) in Singapore while it expands across Asian markets, including Vietnam.

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

VPBank receives 10% deposit from Japan’s SMBC

VPBank receives 10% deposit from Japan’s SMBC

VPBank, Vietnam’s largest bank by charter capital, has received a 10% deposit from Sumitomo Mitsui Banking Corp. (SMBC) in a deal to sell its 15% stake to the Japanese major bank, said VPBank chairman Ngo Chi Dung.

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

Japanese banks pump vast capital into Vietnam market

Japanese banks pump vast capital into Vietnam market

Japanese banks, both mega and smaller, have been channeling more investment into Vietnam, one of the world’s fastest expanding economies.

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

SMBC acquires 15% stake in Vietnam’s VPBank for $1.5 bln

SMBC acquires 15% stake in Vietnam’s VPBank for $1.5 bln

Vietnamese lender VPBank signed a deal on Monday to sell a 15% stake to Japan’s Sumitomo Mitsui Banking Corp. (SMBC) for about $1.5 billion through a private placement.

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

Consumer credit firm Kredivo raises $270 mln in Mizuho Bank-led round

Consumer credit firm Kredivo raises $270 mln in Mizuho Bank-led round

Kredivo Holdings, a Southeast Asian major digital consumer credit platform with operations in Vietnam and Indonesia, has raised $270 million in a series D round led by Japan’s Mizuho Bank, which contributed $125 million.

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

IFC considers pouring $20 mln into Vietnam’s biggest sugar maker

IFC considers pouring $20 mln into Vietnam’s biggest sugar maker

The World Bank’s investment arm IFC has proposed a $20-million investment in Vietnam’s largest sugar producer TTC Sugar in one year.

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

SMBC representative leaves Eximbank board of directors

SMBC representative leaves Eximbank board of directors

The representative of major shareholder Sumitomo Mitsui Banking Corporation (SMBC) in Eximbank, Vo Quang Hien, is no longer a member of its board of directors, starting Wednesday.

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

Ride-hailing firm scores $60 mln Deutsche Bank expansion loan

Ride-hailing firm scores $60 mln Deutsche Bank expansion loan

Deutsche Bank AG has provided Vietnam’s Be Group, a Grab and Gojek rival, with a loan facility of at least $60 million to expand its ride-hailing, food delivery, and digital banking services.

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

Eximbank H1 profit hit 10-year record high

Eximbank H1 profit hit 10-year record high

Eximbank, with Japan's SMBC as major shareholder, reported after-tax profits of VND1,519 billion ($65 million) in the first six months of the year, 2.4 times year-on-year.

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

Techcombank concludes $1 billion syndicated loan

Techcombank concludes $1 billion syndicated loan

Techcombank has concluded a landmark $1 billion syndicated loan facility as the largest-ever medium and long-term syndicated loan for a Vietnamese financial institution.

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