Banking stocks list

Illustrative photo Billions of shares According to statistics, banks added about eight billion shares to the market by paying dividends in 2021. If one includes private placement and offering to existing shareholders, the number of newly issued bank shares on the market is about ten billion shares. The fact that banks have rushed to put billions of shares into circulation has caused banks to face a downward pressure, especially when the stock market is adjusting sharply after the impact of strict social distancing during the Covid-19 pandemic in the third quarter of 2021. In the second half of 2021, many bank stocks plunged sharply after closing the right to pay dividends for the year. Typically, Vietnam International Commercial Joint Stock Bank (VIB Bank) lost nearly 27% of its value after four months of paying dividends. Similarly, VietinBank also decreased value by about 25% after three months of closing the right to pay more than 30% dividend in shares. The trend of … [Read more...] about Shareholders concerned about bank stocks

Hoa Phat Group and four commercial banks of Vietnam have been named in this year’s Forbes list of the world’s 2,000 largest companies (Global 2000). Customers conduct transactions at a branch of Vietcombank in Hanoi. (Photo: VNA) In the latest ranking, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) ranks at the 950th position while Vietnam Technological and Commercial Joint Stock Bank (Techcombank) stands at 1,874th. This year, Hoa Phat Group is named on the list for the first time with revenues of 1.5 billion USD and market value of 8.53 billion USD. The total capitalisation of the four Vietnamese banks on the list reached 46.84 billion USD, in which the market value of Vietcombank accounted for more than 36 percent.. Forbes said that despite the challenges of the COVID-19 pandemic and Russia-Ukraine conflict, the world’s top companies still managed to boost sales and profits last year. Besides, the stock values of … [Read more...] about Hoa Phat Group, four Vietnamese banks among world’s 2,000 largest companies

Prime Minister Pham Minh Chinh (right) and New York Stock Exchange (NYSE) President Lynn Martin hold talks with CEOs of major firms listed on the NYSE on May 16. — VNA/VNS Photo Duong Giang Prime Minister Pham Minh Chinh had a roundtable with CEOs from world-leading firms and investment funds listed on the New York Stock Exchange (NYSE) during a visit there on May 16. In the opening address, PM Chinh said global instabilities had impacted both Viet Nam and the US, requiring the companies to help address the challenges. Viet Nam in recent times had strived to keep macroeconomic conditions under control, including exchange rates, inflation and interest rates, as well as budget revenues and expenditure balances, food security, imports and exports. Viet Nam is currently in serious need of developing a healthy, sustainable securities and bonds market, according to the Prime Minister. The PM also informed the company executives of the implementation of the recovery package worth … [Read more...] about PM underlines commitments to facilitate foreign businesses in roundtable with NYSE-listed firms

Vietnamese Prime Minister Pham Minh Chinh (C) visits the New York Stock Exchange (NYSE) (Photo: VNA) In his meeting with NYSE leaders, the Vietnamese PM expressed his pleasure to visit the largest stock exchange in the world in terms of market capitalisation, and thanked them for the warm welcome and the privilege to ring the bell to end the trading session of May 16. PM Pham Minh Chinh meets with representatives of NYSE (Photo: VNA) PM Chinh stressed that Vietnam is cracking down on the violations of a few unscrupulous investors in the country’s stock markets to ensure its security, transparency, and sustainable development. He asked the NYSE to cooperate and share experience in developing an effective, sustainable stock market in Vietnam as well as realising the country’s ambition to successfully build a regional-level financial centre, foster the win-win partnership between the NYSE and Vietnamese agencies and companies, contributing to the development of the … [Read more...] about PM visits New York Stock Exchange, holds roundtable with CEOs of int’l firms

Vietnamese Prime Minister Pham Minh Chinh (C) visits the New York Stock Exchange (NYSE) (Photo: VNA) New York (VNA) - Vietnamese Prime Minister Pham Minh Chinh held a working session at the New York Stock Exchange (NYSE) on May 16 (local time) as part of his trip to the US. In his meeting with NYSE leaders, the Vietnamese PM expressed his pleasure to visit the largest stock exchange in the world in terms of market capitalisation, and thanked them for the warm welcome and the privilege to ring the bell to end the trading session of May 16. PM Pham Minh Chinh meets with representatives of NYSE (Photo: VNA) PM Chinh stressed that Vietnam is cracking down on the violations of a few unscrupulous investors in the country’s stock markets to ensure its security, transparency, and sustainable development . He asked the NYSE to cooperate and share experience in developing an effective, sustainable stock market in Vietnam as well as realising the country’s ambition to … [Read more...] about PM visits New York Stock Exchange, holds roundtable with CEOs of world leading firms

Foreign resources are key for Vietnam in the process of building an independent and self-reliant economy. Vietnam would continue to open doors for foreign investors in new fields of the stock market, energy transition, digitalization, healthcare, and pharmacy. Overview of the meeting. Source: VGP Prime Minister Pham Minh Chinh gave the view during a meeting with major corporations and venture capital listed on the New York Stock Exchange (NYSE) on May 16. “Vietnam is striving to build an independent and self-reliant economy, focusing on global integration with foreign resources as a key driver,” Chinh said. In this regard, Chinh noted the Vietnamese Government is putting in place measures to ensure a transparent, healthy, and competitive business environment for both local and foreign businesses. “We expect to gain trust and confidence from businesses for Vietnam’s economy, instead of causing concern and troublesome,” he added. Amid the ongoing … [Read more...] about Vietnam opens doors for foreign investors in new business fields: PM

The index mostly stayed in the green in the morning but started to fall after lunch, closing 0.93 points lower and ending its three-session winning streak. It surged 6 percent this week thanks to a 56.4-point rise Tuesday, but has dropped over 18 percent since the beginning of 2022. Trading on the Ho Chi Minh Stock Exchange fell marginally to VND12.46 trillion. The VN-30 basket, comprising the 30 largest capped stocks, saw 17 tickers lose, led by SAB of brewery Sabeco with a 3.9 percent loss. MSN of conglomerate Masan Group dropped 2.4 percent and ended its 21-percent gain over the last three sessions. VNM of dairy giant closed 1.3 percent lower, and GAS of Petrovietnam Gas fell 1.2 percent. Other losers included three lenders: VCB of largest player Vietcombank, down 0.9 percent, CTG of VietinBank, down 0.8 percent, and STB of Sacombank, down 0.7 percent. Ten blue chips gained, with PNJ of Phu Nhuan Jewelry rising 3.8 percent and GVR of Vietnam Rubber Group closing … [Read more...] about VN-Index ends gaining streak

Warburg Pincus is relishing its opportunities in Vietnam as the economy grows and capital markets develop, said Jeffrey Perlman, Southeast Asia chief of the private equity firm to Reuters. "It's a market that we think there's a lot of opportunity in," quoted Perlman in an interview with Reuters on March 22. "Four, five years ago, even in Vietnam there wasn't an understanding of what was private equity and what it will do to businesses." Warburg Pincus is relishing its opportunities in Vietnam. Vietnam's emergence as a large manufacturing destination next to China helped the Southeast Asian nation's economy grow at 6.8% last year, the strongest since 2010, Reuters reported.The growth is rapidly building up a huge middle class that is boosting consumer spending in a country of about 100 million. Its stock index VNI has risen 20% this year, the best performance in Southeast Asia, after surging by 50% last year. Perlman said the growth in Vietnam's capital … [Read more...] about Warburg Pincus: “Vietnam a big draw for global investor”

Assoc Prof and PhD Dinh Trong Thinh. The corporate bond market is expected to become a major source of capital for businesses in the long term, alleviating the pressure on the banking system in supplying capital to the economy. However, recent scandals involving bonds issued by property developers as well as uneven quality of corporate bonds have weakened investor confidence in the market. Assoc Prof and PhD Dinh Trong Thinh, a senior economist from the Academy of Finance, spoke to Vietnam News Agency Television about the loopholes in this market and solutions to make the market healthier and grow well. How do you evaluate the current state of the corporate bond market after a number of controversies related to corporate bonds? After some scandals involving corporate bond issuance, the corporate bond market has slowed down. Previously, the market grew about 46 per cent on average in the 2017-21 period and in 2021, the growth rate was 56 per cent. It still kept growing very … [Read more...] about Fixing loopholes to improve health of the corporate bond market

A cardholder is experiencing the use of a chip-based citizen ID card to withdraw money in Hanoi. He then listed the benefits of using this ID card to withdraw money, compared to the use of traditional ATM cards. Firstly, the procedure has a double level of security, one from the bank and the other from the chip itself. When the process begins, a special scanner captures a portrait and fingerprint of card owners to compare with existing biometric data saved in the chip of the ID card. Matching data ignite the next steps of withdrawing money as usual. Secondly, a loss of an ATM card with the revelation of its password means the possibility of money loss to criminals. However, card thieves cannot do the same with a stolen chip-based citizen ID card, since the newly scanned biometric information cannot match cardholder’s one. When being asked about the case of a person owning several bank cards wishing to withdraw money via a chip-based citizen ID card, the Deputy Director … [Read more...] about Important notice to withdraw money at ATM via chip-based citizen ID card