Hanoi (VNA) - The HCM City Development Joint Stock Commercial Bank (HD Bank) reported impressive results on August 3 for the first half of 2020, with pre-tax profit growing 31.5 percent year-on-year to over 2.9 trillion VND (124.3 million USD). Its non-performing loan ratio was kept firmly under control, at 1.1 percent, the lowest among all the domestic banks. Several indicators for the first half posted strong growth. Total mobilised capital, for instance, reached close to 213.94 trillion VND, a year-on-year increase of 18.2 percent, while total outstanding loans rose 10.3 percent to more than 168.77 trillion VND. The bank also recorded a 22.7 percent increase in total consolidated operating income, exceeding 6.34 trillion VND. This included over 5.66 trillion VND in net interest income; 30.1 percent higher than in the same period last year. Operating costs were well-managed and stood at nearly 2.74 trillion VND, making its cost income ratio (CIR) fall to 43.1 percent from last … [Read more...] about HD Bank’s profit up 31.5 pct. in H1
Law for income tax
Vietnam is currently the 16th-largest trade partner of New Zealand and the two countries boast many advantages from supplementing each other. New Zealand has high demand for importing garments and textiles, footwear, wood, tropical farm produce, and seafood, which are strengths of Vietnam, while Vietnam needs to import milk and dairy products, wine, lamb, fruit, raw wood materials, and materials and accessories for garment-textile and leather-footwear. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 3
The government recently announced a new list of 120 companies which are to be privatized in 2020, with four more companies to be privatized by end-November 2020. Fourteen companies will be transferred to the State Capital Investment Corporation (SCIC) by end-August, including Sabeco, a leading brewery. The government plans to sell a further 36% in Sabeco after transferring it to SCIC. It also plans stake sales in Petrolimex, Vietnam Airlines, and building materials maker Viglacera. Some large agriculture, forestry and tourism enterprises are also on the list. … [Read more...] about Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC
As Vietnam has to wait for another year for the bill on preventing and fighting against the harmful effects of alcoholic beverages to be revised and completed, many streets across the country will remain day and night filled with beer shops and the “Cheers” sound of drinking toasts. … [Read more...] about Why do Vietnamese drink so much?