Bad debt ratio

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) recorded pre-tax profit of nearly VND900 billion in the third quarter of the year, a drop of 13 percent compared to a year ago. Its net interest income grew by nearly 15 percent in the first nine months of the year. Similar to Vietcombank, Sacombank also saw less profit as provision for bad debt went up nearly 70 percent. … [Read more...] about Pre-tax banking profits grow – as do bad debts

“The Government and local authorities have to do strict budget estimates so that the balance between spending and income and the macro-economic conditions are sustained” as Việt Nam is further integrating in the world’s economy with less barriers of taxes and tariffs, thus the decline of taxes and tariffs has had negative impacts on the budget income, he added. … [Read more...] about Deputies fear State will miss budget targets

Facing the challenges of 2020, SHB Finance has quickly adapted, strictly controlled debt quality and credit scale, implemented flexible policies in the challenging business conditions. In 2020, SHB Finance recorded stable business results with a pre-tax profit of VND70 billion ($3 million), ending with a balance of VND3.7 trillion ($160.87 million), bad debts were strictly controlled, while serving nearly 700,000 customers. … [Read more...] about SHB Finance announced new chairman and posted stable performance in 2020

According to the Vietnam Cement Association, due to the impacts of the COVID-19 pandemic, domestic sales of cement fell 5 percent to 56.1 million tonnes in January – November as construction activities were sluggish, especially in the first four months of this year when social distancing was imposed. In January-April, cement sales decreased by 10 percent from the same period last year. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 13

Speaking at a meeting held on January 13 to review the industry and trade sector’s performance last year and set tasks for this year, Nguyen Phuong Dong, the department’s deputy director, said: “In 2020 city enterprises restructured their production to make it market-oriented. The city’s industrial sector shrunk by 4 percent last year due to the impact of the COVID-19 pandemic. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 17