About security bank

Tran Phuong Hong, IT Advisory director, KPMG Tax and Advisory Vietnam and Do Kim Hien, senior solution consultant, KPMG Tax and Advisory Vietnam In Vietnam, we have had vast opportunities in conducting SWIFT system security gap assessment projects for Vietnamese banks, and there are best practices that clients should consider while implementing and securing the system according to a SWIFT Customer Security Control Framework (SWIFT CSCF). The SWIFT CSCF describes a set of mandatory and advisory security controls for users. Mandatory security controls establish a security baseline for the entire community and must be implemented by all users on their local SWIFT infrastructure. The SWIFT has chosen to prioritise these mandatory controls to set a realistic goal for near-term, tangible security gain, and risk reduction. Advisory controls are based on good practice that SWIFT recommends. Over time, mandatory controls may change due to the evolving threat landscape, and some advisory controls may become mandatory. All controls are articulated around three objectives: ‘Secure your Environment’, ‘Know and Limit Access’, and ‘Detect and Respond’. Controls have been developed based on SWIFT analysis of cyber threat intelligence and in conjunction with industry experts and user feedback. Control definitions are also intended to be in line with existing information security industry standards. SWIFT CSCF version 2021 has defined 31 security controls (22 mandatory and nine advisory controls) that underpin these objectives and principles. The controls are intended to help mitigate specific cybersecurity risks that users face due to the cyber threat landscape. Within each security control, SWIFT has documented the most common risk drivers that the control is designed to help mitigate. Addressing these risks aims to prevent or minimise undesirable and potentially fraudulent business consequences, such as unauthorised sending or modification of financial transactions; …

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Commercial banks are facing challenges, including an increase in bad debts because of Covid-19 and pressure that has forced them to increase charter capital. But bank shares remain attractive to investors. According to the HCM City Stock Exchange (HOSE), the foreign CEO of Techcombank Jens Lottner has registered to buy 439,000 TCB shares of the bank under the puy-through mode. The share collection will be implemented in October 1-27, 2020. Techcombank's president Ho Hung Anh If noting that the current market price is VND23,000 per share, the CEO would have to pay more than VND10 billion to buy the shares of Techcombank, owned by billionaire Ho Hung Anh. Prior to that, Techcombank decided to raise the ceiling foreign ownership ratio from 22.5 percent to 22.51 percent of charter capital so as to pave the way for the newly appointed foreign CEO to increase his ownership ratio in the bank. Like many other banks, Techcombank has fixed the ‘room’ for foreign investors to reserve shares for strategic partners. Prior to that, a big shareholder of HDBank, Sovico, of the female dollar billionaire Nguyen Thi Phuong Thao, completed purchase of 10 million HDBank shares as registered. With the deal, Sovico increased its ownership ratio from 13.34 percent to 14.36 percent. Bank shares have attracted special attention from investors recently. A lot of banks reported high profit of trillions of dong and high growth rates over previous years, despite the impact of Covid-19. In H1, Techcombank’s provisions against credit risks were five times higher than that of the same period last year, but its pre-tax and post-tax profits still increased by 20 percent to 6.7 trillion and VND5.4 trillion, respectively. The bank aims to obtain pre-tax profit of VND13 trillion for the whole year of 2020. STB shares of Sacombank owned by Duong Cong Minh have also seen prices soaring recently thanks to the rumor that Thaco, a Vietnamese owned automobile manufacturer, will buy …

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Main index rockets to new record The Saigon Times A man monitors stock prices on his laptops. The VN-Index hits a record high today, April 12 - PHOTO: VNA HCMC – Strong cash flows coupled with positive investor sentiment, triggered by a surge in the liquidity on the Hochiminh Stock Exchange, pushed the VN-Index to an all-time high of 1,252.45 points today, April 12. Closing the day, the main index jumped by 20.79 points, or 1.69%, against the session earlier, with advancers outnumbering losers by 301 to 134. Trade volume totaled some 890.31 million shares worth over VND21.5 trillion, up 21.49% in volume and 18.17% in value from the previous session. The value of traded stocks was also the highest-ever. Some 32.67 million shares worth over VND1.5 trillion were traded in block deals. In the VN30 basket, only six stocks tumbled. Meanwhile, many large-cap stocks posted a sharp increase. For example, property developer VIC jumped 5.7% at VND132,000; VIC’s housing affiliate VHM added 2.9% at VND101,800; steelmaker HPG picked up 3.3% at VND51,200; and real estate firm NVL surged 5.9% at VND95,300. Other major contributors were bank stocks, with large-cap ones increasing more than 1% each. Notably, STB soared 3.3% at VND23,450. It also led the southern bourse in terms of liquidity with 49.31 million shares changing hands. The HNX-Index of the Hanoi Stock Exchange also continued its upward spiral, adding 1.75 points against the session earlier at 293.79 points. There were more than 183 million shares worth some VND3.1 trillion changing hands, with nearly 8.6 million shares, valued at VND120.39 billion, being traded in block deals. Some large-cap stocks in the HNX30 basket inched up, such as lender SHB by 0.4% and stone processor VCS by 0.7%. Further, securities company SHS rose 2.5% at VND32,400; bank stock NVB edged up 2.2% at VND18,300; and MBS expanded 2.3% at VND26,900. Trading and food service firm KLF and securities enterprise …

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