Banking market share australia

A transaction at Military Bank (MBB). MBB rose 6.8 per cent last week. — Photo MBB Shares are predicted to continue their short-term uptrend thanks to the return of cash flow this week. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) had risen 2.5 per cent last week. An average of 917.3 million shares were traded on the southern exchange during each session last week, worth 15.6 trillion (US$664.3 million). With the positive movement of banking and large-cap groups, the market surpassed 1,080 points and closed with a good gain in the last session of last week. Liquidity also continued to increase, showing that investors' trading sentiment was more positive although profit-taking still presented in some sectors at the end of the session, said Viet Dragon Securities Co (VDSC). “With this development, investors can expect the cash flow to continue to support and help the market gradually move to higher price ranges in the near future.” “It is expected that … [Read more...] about Shares to keep uptrend this week

Access to this huge amount of customer data is a golden opportunity for banks to promote digital services and products, especially online lending. — Photo baodautu.vn Through a series of newly-issued regulations and access to the national population database, banks are planning to expand their online money-lending services. Deputy Governor of the State Bank of Viet Nam (SBV) Pham Tien Dung said accessing the national population database will help banks to check and authenticate new customer information more easily. Commercial banks will promote lending services on their electronic platforms based on this database. The draft amending the Law on Credit Institutions has many regulations specifying banking services via electronic devices. Besides that, several provisions supplemented by Civil Law and the Law on Electronic Transactions are necessary to complete the legal framework for online lending. Online lending, mostly small loans, has been implemented by many banks for a … [Read more...] about Banks to promote online lending through national population database access

Recently, Mixue, a Chinese chain of fresh ice cream and tea stores focusing on the low-end market and Generation Z, announced it had reached 1,000 stores through franchising after nearly five years of operation in Vietnam – a scale that no F&B brand had ever reached. Despite the global economic slowdown, top-of-mind F&B brands expanded their chains after the Covid-19 pandemic. As of February, Highland Coffee had around 600 stores, an increase of 63.5% compared to March 2021. Trung Nguyen E-Coffee nearly doubled its stores from 308 in March 2021 to 620 in February 2023. Phuc Long, after receiving the capital from Masan Group, expanded rapidly to more than 900 stores, including 132 flagship stores and more than 770 kiosks at WinMart/WinMart , compared to just 80 stores in March 2021. According to a report about the F&B market by iPOS.vn, the F&B market saw a considerable recovery after the COVID-19 pandemic to reach a revenue of VND610 trillion in 2022, up … [Read more...] about F&B more robust with boom in low-end market

Asian markets wobbled Tuesday after a two-day rally as profit-takers stepped in and traders weighed the chances of the Federal Reserve skipping an interest rate hike this month. The tepid performance came after a global advance stumbled in New York and Europe on Monday, with a below-par read on US services sector activity hinting at weakness in a key area of the economy. Analysts also warned that with the US borrowing ceiling now lifted, the Treasury is expected to unleash a flood of debt onto the market as it looks to restock its coffers, sucking cash from the financial system and putting pressure on liquidity. Sylvia Jablonski, at Defiance ETF, told Bloomberg Television that such a move that soaks up money "is something that will probably keep us in a range-bound mode until we see where it all lands, including the Fed’s final decision on rates". Traders have been broadly upbeat after a "Goldilocks" jobs report Friday that was neither too good nor too bad suggested the economy … [Read more...] about Asian markets struggle to kick on after rally, with eyes on Fed

In the first five months of the year, Vietnam welcomed nearly 4.6 million international visitors, 13 times the amount on-year and equal to 63 per cent compared to 2019. The ten largest markets were South Korea, Mainland China, the US, Taiwan, Japan, Thailand, Malaysia, Cambodia, Australia, and Singapore, providing a combined total of 3.3 million arrivals, accounting for 71 per cent of the total number of visitors. Before 2019, China was Vietnam's largest international tourist market, accounting for about 30 per cent of the total number of visitors. That year, Vietnam welcomed 18 million international visitors, of which China contributed 5.8 million, followed by visitors from Russia, the UK, and France. After the Covid-19 pandemic, South Korea has since risen to be the largest tourist market with 1.3 million arrivals, followed by China in second. Several European markets have also dropped out of the top ten, replaced by the likes of Cambodia and Singapore. According to … [Read more...] about Vietnam’s Top 10 international tourist markets

Transactions at Vietcombank. — Photo courtesy of the bank The State Bank of Viet Nam (SBV) just allowed Vietcombank to raise its charter capital from VND47 trillion (US$2 billion) to VND55 trillion ($2.3 billion) by issuing shares to pay dividends from the remaining profits of 2019 and 2020. Previously, the bank’s 2022 Annual General Meeting of Shareholders approved the issuance of 856.5 million dividend stocks at a rate of 18.1 per cent. Once the issuance is completed, its charter capital will increase by nearly VND8.6 trillion to more than VND55.89 trillion, thereby surpassing Vietinbank and BIDV to become the second largest bank, after VPbank. Vietcombank said that the mobilised capital will be spent on expanding the business scale to meet the economy’s requirements, and investing in improving management and operation plans. The bank also plans to issue a maximum of nearly 2.8 billion shares to pay dividends from the remaining profit of 2021 and the remaining profit … [Read more...] about Vietcombank permitted to raise capital to $2.3 billion

Party General Secretary Nguyen Phu Trong (R) receives Australian Prime Minister Anthony Albanese . (Photo: VNA) Sydney (VNA) – Dr. Nguyen Hong Hai , a researcher at the Centre for Policy Futures under the University of Queensland in Australia, has noted that the freshly-concluded visit to Vietnam by Australian Prime Minister Anthony Albanese was a success, as reflected through the agreements reached by the two sides on both bilateral and multilateral issues. Albanese paid an official visit to Vietnam from June 3-4 at the invitation of his Vietnamese counterpart Pham Minh Chinh. According to Hai, the two sides shared the view on positive developments of the bilateral diplomatic ties over the past 50 years, and the bilateral strategic partnership in the three pillars of politics, national security and defence; economy, trade and investment; and education and training. They said ample room remains for cooperation in economy, trade and investment. Therefore, … [Read more...] about Australian PM’s Vietnam visit a success: researcher

Illustrative image (Photo: laodong.vn) Hanoi (VNA) - Although the aquaculture industry have been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) Le Hang told Lao dong newspaper. According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export . The bank has been required to implement supportive and preferential policies, including proposing a credit package worth 10,000 billion VND (over 425.4 million USD) to support businesses operating in forestry and aquatic production and processing industries. Credit programmes should be prioritised for the fisheries sector, towards creating favourable conditions for businesses involved in the … [Read more...] about Government support helps aquaculture industry weather difficulties

About 90-95 per cent of Cambodia's pepper output has been exported to Viet Nam. — Photo nld.com.vn Viet Nam's pepper exports are not challenged by Cambodia being issued a licence to export its pepper to China directly, according to experts. The Viet Nam Trade Office in Cambodia quoted Khmer Times sources saying that Cambodian pepper would be available in China directly after the General Administration of Customs of China (GACC) approved Cambodia’s export proposal. Accordingly, the GACC approved seven packaging factories and 28 growing facilities for pepper exports in Cambodia. Le Viet Anh, head of the Viet Nam Pepper Association's office, Cambodia exporting pepper directly to China was not a challenge for Viet Nam's pepper exports immediately because the pepper volume exported from Cambodia to China was not much. “About 90-95 per cent of Cambodia's pepper output have been exported to Viet Nam, then processors in Viet Nam have re-exported the volume to other countries, … [Read more...] about Viet Nam does not face challenge from Cambodia pepper exports to China: experts

Illustrative photo (Photo: Breeding Magazine) Hanoi (VNA) – Vietnam spent 2.04 billion USD to import animal feed and raw material s for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD). The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the US (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers … [Read more...] about Vietnam spends over 2 billion USD on animal feed, material imports in 5 months