Merger and acquisition

Vietcombank was the first bank with equity exceeding $4.26 billion by the end of 2021. In 2022, four more banks achieved this figure – Techcombank, Vietinbank, VPBank, and BIDV. In 2022, the charter capital of many banks saw a significant increase, with some banks even recording a vast increase in charter capital. At the same time, banks continue to improve their capital adequacy ratio and apply international standards in risk management. More than 20 banks have applied Basel II standards. Notably, many banks have successfully applied Basel III with more stringent requirements, such as TPBank, ACB, VPBank, SeABank, NamABank, and OCB. Some banks are also partially applying or piloting Basel III implementation, including VIB, HDBank, Techcombank, ABBank, MSB, and Sacombank. Besides the growth in scale, banks’ development in customer base is significantly greater, with digital transformation being an indispensable factor. While in the past, it typically took a traditional bank 20-30 … [Read more...] about Modest bank growth projected this year

Vi, who has almost 20 years of experience working in the field of finance and investment credit, discussed credit financing for renewable energy initiatives, including wind and solar, at the event. She said the spectrum of electricity investment in Vietnam could be divided into three categories: foreign investors, Vietnamese corporate entities that can arrange credit with domestic and foreign banks, and businesses that have not yet had the opportunity to arrange capital but wish to. During 2017–2019, international investors could obtain capital inflows at a cost of around 4–5 per cent, but Vietnamese firms had to obtain capital from local banks at a cost of 11–15 per cent of total capital expenses. Therefore, local investors were pressured to invest much more than their international counterparts. In addition, Vietnamese organisations and businesses continue to need assistance in gaining access to credit, owing to the fact that international banks do not lend to local businesses … [Read more...] about Misleading to assert foreign firms dominate Vietnam’s energy sphere: expert

Naris Cosmetics Vietnam specialises in producing cosmetics, soap, detergents, polish, and sanitary preparation. The company has a factory in Portrade International Tech Park in the southern province of Binh Duong. Following this deal, Naris Cosmetics Vietnam officially became a member of Rohto-Mentholatum Vietnam under the name Rohto-Mentholatum (Vietnam) Co., Ltd. II from January 4. It will operate under the leadership of new president and general director Hirofumi Shiramatsu. Shiramatsu, who is also general director of Rohto-Mentholatum Vietnam said, "The successful negotiation of this purchase and sale agreement is an important milestone for us. Through the merger, we will welcome 50 new members of Naris Cosmetics Vietnam with the spirit of being one team. As a result, 2023 is expected to be a breakthrough year for our team with diversity, originality, and creativity in new initiatives and projects." Rohto-Mentholatum Vietnam is a subsidiary of Rohto Pharmaceutical Co., Ltd, … [Read more...] about Rohto-Mentholatum Vietnam takes over Naris Cosmetics

Following the M&A deal, Lion plans to make MERAP an equity-method affiliate. MERAP possesses major brands in the healthcare field, mainly in over-the-counter pharmaceuticals, as well as a distribution network and sales capabilities covering hospitals, clinics, and pharmacies throughout Vietnam. The deal will create synergy by combining MERAP’s business foundations with the Lion Group’s strengths in product development and production technology. By doing so, the Japanese firm aims to contribute to the creation of better habits and achieve business expansion in Vietnam. The move is part of Lion’s efforts to expand its overseas business, which will be important to achieving its vision of becoming an advanced daily healthcare company by 2030. To facilitate this goal, Lion is working to reinforce its businesses in countries and areas where it already operates while also entering new locations to expand its presence in Asia. To date, Lion has exported certain products to the … [Read more...] about Japan’s Lion Corporation to acquire 36 per cent of MERAP

Jim Ratcliffe's company INEOS has formally entered the bidding process to buy Premier League soccer club Manchester United, a spokesperson for the chemical firm said on Tuesday. The Glazer family, United's U.S. owners, said in November they had begun looking at options for the 20-times English champions, including new investment or a potential sale, 17 years after they bought the Old Trafford club. In August, British billionaire Ratcliffe, a long-time fan of the club, expressed interest in buying United, Reuters reported. "I can confirm that we have formally put ourselves into the process," an INEOS spokesperson said in a statement on Tuesday. United declined to comment when contacted by Reuters. The Times newspaper, which first reported the news, said formal bids were expected to start next month, with United potentially changing hands by the end of the season. Interest from the United States, the Middle East and Asia is also expected. Manchester United's shares rose … [Read more...] about INEOS confirms entering bidding process to buy Manchester United

Vietnam posted inspiring results in 2022 and the GDP target for this year is set at 6.5 per cent. What will be the major challenges to the economy, and the banking and financial sector in particular, in 2023? Economist Nguyen Tri Hieu Vietnam’s economic growth of 8.02 per cent for 2022 is impressive on the surface while the country was going through many difficulties and uncertainties during that year. However, the result is of quantitative nature. There are often two aspects in assessing the economic development: qualitative and quantitative. Quantitative aspect comprises a basket of indexes, from GDP growth indices and inflation rates to import-export and investment figures. However, those indexes do not present the whole picture of economic development. In terms of qualitative growth, Vietnam’s economy has encountered a raft of problems in the past year. Albeit the inflation rate remains low, people have continuously been affected by spiking fuel and food prices. … [Read more...] about Expectations on the horizon

Price increases were large in sectors such as automobiles and transportation services, where pent-up demand picked up after reopening from the pandemic. On the supply side, shortages of key commodities, exacerbated by the Russia-Ukraine conflict, contributed substantially to higher energy and food prices. Andrea Coppola, Lead economist, World Bank The higher share of food in consumer spending has caused inflation to accelerate more in low-income countries compared to other emerging markets and developing economies. Many countries experienced large currency depreciations that passed through into higher import, producer, and consumer prices. In contrast, long-term inflation expectations have been more stable, edging up only slightly in both advanced economies and emerging markets and developing economies since the onset of the pandemic – by around 0.15 percentage points. This greater stability possibly reflects the credibility of the commitment of most central banks to … [Read more...] about The implications of global uncertainty