The signing ceremony of a co-operation agreement on capital arrangement advisory took place today between Saigon-Hanoi Bank Finance Co., Ltd. (SHB Finance) and SHS Saigon-Hanoi Securities JSC (SHS) at the former’s headquarters in Hanoi. SHB Finance CEO Dinh Quang Huy (left) and SHS CEO Vu Duc Tien at the signing ceremony Under the agreement, SHS was selected to become the capital arrangement advisory partner for SHB Finance through issuances of certificates of deposit (CDs). The minimum distributed CD volume was set at VND1.5 trillion ($65.2 million) for a 12-month term. Besides enjoying the approved credit limit of maximally 10 per cent of its parent bank SHB’s equity, the fresh move aims to help SHB Finance to become self-reliant in their business operation in 2019. This is the second round of CD issuance of SHB Finance since its official entry in the Vietnamese consumer finance market from last August. The first round took place by virtue of support from … [Read more...] about SHB Finance signs capital arrangement advisory deal with SHS
Banking finance
World Bank vice president for Infrastructure to visit Vietnam
The Hanoitimes - As of September 2016, the World Bank had provided US$22.5 billion in grants, credits and concessional loans to Vietnam. WB retains downside projections for Vietnam’s economic growth amid trade war WB points out 4 key priorities for Vietnam’s reform agenda WB helps Vietnam reduce use of coal, mobilize funding for clean power Vietnam should reduce coal power for sustainable growth: EU, WB Vietnam should consider high growth firm-focused policy to boost economic performance: WB Makhtar Diop, the World Bank’s vice president for infrastructure, will pay his first official visit to Vietnam from February 20 to 22 as the Southeast Asian country is in dire need of capital for infrastructure development. World Bank’s Vice President for Infrastructure Makhtar Diop During his stay, Makhtar Diop is expected to meet with senior leaders of the country and of various ministries and agencies, and local authorities to confirm the World … [Read more...] about World Bank vice president for Infrastructure to visit Vietnam
Higher foreign ownership urged to aid Vietnam’s banks in integration
The Hanoitimes - The relaxation of foreign ownership ceiling to 49 percent is needed to help banks meet requirements in the country’s integration and be able to compete with international peers. The government should lift the foreign holding ratio at local commercial banks to 49 percent from the current 30 percent to help banks meet requirements in the country’s rapid integration and be able to compete with international peers, experts said. Foreign capital can help local banks improve their competitiveness According to finance expert Bui Quang Tin, CEO of BizLight Business School, it is necessary to increase the ratio for foreign investors as it not only helps local banks attract large amounts of capital from foreign investors, but also contributes to improving local banks’ finance capacity, governance, risk management and other standards in line with international practices. Under current regulations, the ownership ratio of a foreign investor in a … [Read more...] about Higher foreign ownership urged to aid Vietnam’s banks in integration
Prudential Finance at the forefront of innovation
Atul Dixit, CEO of Prudential Finance, at the forefront of Vietnam Retail Banking Forum 2018 The events, which were held in Ho Chi Minh City on November 28-29 with great success, provided a platform for expert-led sessions on knowledge economic trends shaping the region as well as technological developments that are geared to take the financial services industry to the next level. The Vietnam Cyber Security Forum 2018 was organised by the Authority of Civil Cryptography Management and Cryptography Product Evaluation (the Vietnamese government’s Cypher Committee), the Vietnam Computer Emergency Response Team, the Authority of Cyber Security and Information Security (Ministry of Public Security), and the International Data Group (IDG Vietnam). Now in its 10th year, the Vietnam Retail Banking Forum 2018 – organised by the Vietnam Banks Association and IDG Vietnam – is one of the leading influential retail banking events in the country. Senior executives and officials … [Read more...] about Prudential Finance at the forefront of innovation
Banking-finance takes lead in Vietnam’s foreign investment
It was followed by agricultural, forestry and seafood field with $68.4 million, processing and manufacturing with $50.9 million. In 35 nations and territories which Vietnam have invested in, Laos attracts most with $97.6 million. Australia ranks second with 52.7 million and Slovakia ranks third with $35.9 million. At the following position is Cambodia, Cuba and Myanmar. The Foreign Investment Department under the ministry said that 2006-2017 is the booming phase of Vietnam’s foreign investment. The country has invested in 1,188 projects in 70 nations and territories with the total registered capital of $21.4 billion as of January last year. So far, the amount has approximated $22.1 billion. By ANH PHUONG – Translated by Hai Mien … [Read more...] about Banking-finance takes lead in Vietnam’s foreign investment