Vietnam currency to strengthen towards year-end: UOB

Vietnam currency to strengthen towards year-end: UOB

Vietnamese dong (VND), the local currency, is expected to appreciate against the greenback in H2/2024, with the U.S. Federal Reserve likely to cut interest rates twice this year.

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

Vietnam economy sees brighter growth prospects in 2024 amid uneven Q1 recovery: HSBC

Vietnam economy sees brighter growth prospects in 2024 amid uneven Q1 recovery: HSBC

Vietnam’s recovery story remains intact but uneven as domestic-oriented services lag behind external-facing sectors, HSBC researchers have said, highlighting better growth prospects for this year.

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

Vietnam planning ministry opts for 6.5% growth scenario after Q1 acceleration

Vietnam planning ministry opts for 6.5% growth scenario after Q1 acceleration

The Ministry of Planning and Investment, the government's principal economic advisory body, has proposed targeting GDP growth of 6.5% this year, the mandatory upper limit, after the first-quarter pace hit a five-year high.

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

Prospects remain bright for Vietnam economy despite geopolitical conflicts: UOB

Prospects remain bright for Vietnam economy despite geopolitical conflicts: UOB

With performance in the first quarter coming within expectations and a positive start to 2024, prospects for Vietnam this year remain positive despite downside risks stemming from geopolitical tensions, Singapore-based UOB said in a note.

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

Rising FDI inflows to further boost Vietnam’s domestic activities: UOB

Rising FDI inflows to further boost Vietnam’s domestic activities: UOB

An increase in both actual and registered foreign direct investment (FDI) inflows in 2023 will further boost Vietnam’s domestic activities in the quarters ahead including construction and employment, said researchers at Singapore-headquartered bank UOB.

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

Vietnam continues to see strong FDI inflows in 2024: HSBC

Vietnam continues to see strong FDI inflows in 2024: HSBC

The strong inflows of foreign direct investment will likely continue in 2024, buttressing Vietnam’s manufacturing sector, said James Cheo, chief investment officer for Southeast Asia and India, Global Private Banking and Wealth, at HSBC.

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

Vietnam economy could grow 6% in 2024 as exports, manufacturing improve: UOB exec

Vietnam economy could grow 6% in 2024 as exports, manufacturing improve: UOB exec

Vietnam could reach GDP growth of 6% in 2024 and over 6% in 2025 as exports and manufacturing continue to improve, but these figures are still comparatively low given that the country's economic expansion was 7-8% before the pandemic, said Suan Teck Kin, executive director at UOB Global Economics & Market Research.

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

Vietnamese currency VND may have bottomed: UOB

Vietnamese currency VND may have bottomed: UOB

Like other Asian peers, it appears that the bulk of the recent Vietnamese dong (VND) selloff is over, researchers at Singapore-based United Overseas Bank (UOB) said in a note.

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

Vietnam secures $36 mln in fintech funding from Jan-Sep: UOB

Vietnam secures $36 mln in fintech funding from Jan-Sep: UOB

Vietnam secured $36 million in nine finance technology (fintech) deals in the first nine months of this year, according to the Singapore-based United Overseas Bank's (UOB) FinTech in ASEAN 2023 report.

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

Shinhan Bank, Public Bank the only 2 foreign banks offering above 5% interest rates

Shinhan Bank, Public Bank the only 2 foreign banks offering above 5% interest rates

South Korea-invested Shinhan Bank and Malaysia-invested Public Bank are the only two foreign commercial banks in Vietnam offering more than 5% interest for 12-month deposits, at 5.3% and 5.6% respectively.

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

Vietnamese most optimistic ASEAN consumers: UOB study

Vietnamese most optimistic ASEAN consumers: UOB study

Vietnamese consumers are more optimistic than peers in Singapore, Malaysia, Thailand and Indonesia, despite inflation concerns, a study by Singapore-based United Overseas Bank (UOB) has found.

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

Vietnam’s economic growth can reach 5% in 2023, 6.3% in 2024: HSBC

Vietnam’s economic growth can reach 5% in 2023, 6.3% in 2024: HSBC

Vietnam can reach economic growth of 5% in 2023 and 6.3% in 2024, said Frederic Neumann, HSBC's chief Asia economist and co-head of Global Research Asia, at a Monday event held by the bank.

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

Vietnam’s 2023 GDP growth target out of reach: UOB

Vietnam’s 2023 GDP growth target out of reach: UOB

Vietnam’s official GDP growth target of 6.5% for this year is not achievable as economic recovery has fallen short of expectations, Singapore-based bank UOB said Monday.

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

Vietnam forecast to see slow growth, more rate cuts in Q3: UOB

Vietnam forecast to see slow growth, more rate cuts in Q3: UOB

Vietnam’s real GDP growth in the third quarter of this year is forecast to see little improvement, dragged down by continued weaknesses in the export and manufacturing sectors, while the central bank may consider further interest rate cuts, the Singapore-based UOB bank said in a report.

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

Vietnamese founded English learning startup secures $23 mln funding

Vietnamese founded English learning startup secures $23 mln funding

Elsa (English Learning Speaking Assistant), a Silicon Valley-based startup founded by Vietnamese language and education expert Van Dinh Hong Vu, has raised $23 million in Series C funding.

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

HSBC, Shinhan Bank, UOB record strong earnings in Vietnam

HSBC, Shinhan Bank, UOB record strong earnings in Vietnam

Foreign banks HSBC, Shinhan Bank and UOB posted strong performances in Vietnam in the first half of this year, according to their half-year reports.

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

Vietnam banks cut 12-month deposit rates to below 6%

Vietnam banks cut 12-month deposit rates to below 6%

The 12-month deposit interest rates at major banks in Vietnam, domestic and foreign, have fallen below 6% this month.

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

Nine in 10 Vietnam businesses eye overseas expansion: UOB study

Nine in 10 Vietnam businesses eye overseas expansion: UOB study

Almost nine in 10 businesses in Vietnam are looking to expand broad in the next three years, which will mean a higher interest in cross-border digital trade platforms, says a new study by Singapore’s United Overseas Bank (UOB).

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

Singapore's UOB triples Vietnam operating profit to $10.5 mln in H1

Singapore's UOB triples Vietnam operating profit to $10.5 mln in H1

Singapore’s United Overseas Bank (UOB) recorded a core operating profit of SGD14 ($10.5 million) from activities in Vietnam in the first half of 2023, nearly tripling year-on-year, according to the bank’s latest report.

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

Deposit interest rates below 7% at foreign banks in Vietnam

Deposit interest rates below 7% at foreign banks in Vietnam

While Vietnamese commercial banks reduced their deposit interest rates to below 8% recently, the rates were already lower at foreign counterparts in the country at below 7%.

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

Vietnam economy forecast to grow 7% in H2, after 3.7% in H1

Vietnam economy forecast to grow 7% in H2, after 3.7% in H1

The Vietnamese economy is expected to expand by 7% year-on-year in the last six months of this year, much stronger than the first half’s 3.72%, Standard Chartered Bank forecast.

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

12 wide-ranging agreements set to bolster Vietnam-Singapore ties

12 wide-ranging agreements set to bolster Vietnam-Singapore ties

Twelve MoUs signed Friday at the Singapore Regional Business Forum in Hanoi creates a framework for boosting wide ranging Vietnam-Singapore relations, senior officials say.

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

Vietnam economic rebound forecast for second half

Vietnam economic rebound forecast for second half

Vietnam’s economy in the second half of this year is set to pick up again after slow growth in the first half, but its full-year growth would be slower than earlier predicted, HSBC and DBS Bank said.

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

UOB cuts Vietnam 2023 growth forecast down to 5.2%

UOB cuts Vietnam 2023 growth forecast down to 5.2%

Singapore’s United Overseas Bank (UOB) has revised down its 2023 growth projection for Vietnam to 5.2% in view of the challenges ahead and the first half’s 3.72% expansion year-on-year.

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

UOBAM Malaysia launches Vietnam equity fund for retail investors

UOBAM Malaysia launches Vietnam equity fund for retail investors

UOB Asset Management (UOBAM) Malaysia has launched its United Vietnam Equity Fund, which provides local retail investors with access to the equity market in Vietnam, one of Southeast Asia’s leading manufacturing hubs.

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

Singapore bank UOB launches FinLab in Vietnam to aid SMEs

Singapore bank UOB launches FinLab in Vietnam to aid SMEs

UOB FinLab, an innovation accelerator powered by Singaporean bank UOB, was rolled out in Vietnam on Tuesday to help empower domestic small- and medium-sized enterprises to harness digital technologies for business growth.

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

UOB shapes up to be leading ASEAN bank

UOB shapes up to be leading ASEAN bank

Singapore’s United Overseas Bank (UOB) is doubling down on its acquisition of Citigroup’s consumer banking businesses in Vietnam, Malaysia, Thailand, and Indonesia, winning two million clients from the buyout that has significantly boosted its retail banking.

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

Vietnam’s central bank likely to further cut rates: UOB

Vietnam’s central bank likely to further cut rates: UOB

While the SBV has shifted towards a more accommodative stance, it does not mean the start of a rate-cut cycle, at least not just yet. The central bank is likely to approach further rate cuts cautiously and deliberately. One area of focus for the SBV is clearly the domestic inflation trend.

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

Singapore's UOB posts core 2022 operating profit of $13 mln in Vietnam

Singapore's UOB posts core 2022 operating profit of $13 mln in Vietnam

Singapore-headquartered United Overseas Bank (UOB) posted a core operating profit of S$17 million ($12.75 million) from activities in Vietnam in 2022, quadruple that in 2021 of S$4 million.

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

UOB completes acquisition of Citigroup’s consumer banking in Vietnam

UOB completes acquisition of Citigroup’s consumer banking in Vietnam

Singapore bank UOB said Wednesday it has finished the acquisition of Citigroup’s consumer banking business in Vietnam, which includes the transfer of about 575 Citigroup-related staff members to UOB Vietnam.

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

International organizations upbeat over Vietnam’s 2023 growth

International organizations upbeat over Vietnam’s 2023 growth

Vietnam’s economy would continue outperforming its Southeast Asian peers this year amid headwinds worldwide, according to international organizations.

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

UOB, Intellect partner to support Vietnam SMEs

UOB, Intellect partner to support Vietnam SMEs

Singapore-backed United Overseas Bank (UOB) Vietnam has partnered with Asia-focused mental wellness tech company Intellect in supporting the former's SME customers.

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

Vietnam growth likely to reach 6.83% this year: economic institute

Vietnam growth likely to reach 6.83% this year: economic institute

The Vietnamese economy is expected to expand by 6.83% at the most in 2023, a little higher than the National Assembly target of 6.5%, the Central Institute for Economic Management (CIEM) forecast Thursday.

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

Vietnam 2023 economy to grow 7.2%: Standard Chartered

Vietnam 2023 economy to grow 7.2%: Standard Chartered

Standard Chartered Bank put its Vietnam GDP growth prediction at 7.2% for 2023 and 6.7% for 2024, following 8.02% in 2022.

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

Vietnam GDP growth likely 6.62% in 2023: UOB

Vietnam GDP growth likely 6.62% in 2023: UOB

Singapore's United Overseas Bank (UOB) predicted Vietnam's GDP growth for 2023 at 6.62%, slightly above the target of 6.5% set by the country's National Assembly.

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