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A customer borrows at a SHB’s transaction office in Hanoi. Outstanding loans for real estate of SHB in H1 2023 increased by 88.8% compared to the beginning of the year. (Photo: VNA) Hanoi (VNS/VNA) - Outstanding loans to the real estate sector in the first half of 2023 surged by 17.4%, exceeding the 10.7% growth rate of the whole of 2022, according to data from the State Bank of Vietnam (SBV). Data of 17 listed banks showed their total outstanding loans for the real estate sector in the first half of 2023 reached 426 trillion VND, up 36.2% compared to the end of last year. The proportion of the banks’ loans in this sector also increased from 8% at the end of 2022 to 10% at the end of the second quarter of 2023. The rise showed banks were still continuing to inject capital into the real estate sector even though the real estate market had not improved much. According to the data, 14 out of the 17 banks recorded an increase in outstanding loans for real estate compared … [Read more...] about Bank loans to real estate business rise in H1 2023

A transaction office of the Saigon - Hanoi Joint Stock Commercial Bank (SHB). (Photo: VNA) Hanoi (VNA) - The State Bank of Vietnam ’s reference exchange rate increased 45 VND between August 21 and 25. The rate experienced a sharp decrease at the beginning of the week on August 21, narrowed the decline momentum on the next day, and rebounded from August 23 to August 25. The rate was set at 23,898 VND/USD on August 25, up 44 VND from the previous day. With the trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day was 25,274 VND/USD and the floor rate 22,884 VND/USD ./. VNA … [Read more...] about Reference exchange rate up 45 VND last week

Shrimp processed at Cửu Long Fish JSC (ACL) in Trà Vinh Province's Trà Vinh City. ACL rose 1.4 per cent on Wednesday. — VNA/VNS Photo Vũ Sinh Việt Nam's stock market extended gains on Wednesday on the back of banking and seafood shares. The benchmark VN-Index on the Hồ Minh Stock Exchange (HoSE) increased by 0.72 per cent, to 1,213.16 points. Market breadth was positive as 320 stocks climbed while 167 declined. The VN-Index had increased 0.23 per cent, to close Tuesday at 1,204.43 points. Nearly VNĐ21 trillion (US$869 million) was poured into the southern bourse, equivalent to a trading volume of 912 million shares. The VN30-Index, which tracks the 30 biggest stocks in market capitalisation on the southern market, gained 0.83 per cent to close at 1,225.56 points. Of the VN30 basket, 22 stocks jumped while six slid, and two stayed unchanged. Banking stocks performed positively and bolstered the increase of the market with gainers including Military Bank (MBB), Techcombank … [Read more...] about Shares climb on banking, seafood stocks

Lending rate lag still causing bank unease, photo Le Toan There has been a decline in savings interest rates in recent weeks. From August 23, Agribank continued to reduce deposit interest rates from 0.5 to 0.3 per cent to support individuals and businesses. Since the beginning of the year, Agribank’s deposit interest rate has decreased up to 4.5 per cent. On the same day, BIDV reduced the deposit interest rate at the counter for 1-month and 3-month terms by 0.3 per cent per year. Interest rates for a 6-month term decreased from 5 per cent to 4.7 per cent per year. Interest rates for a term of 12 months or more were strongly adjusted from 6.3 per cent to 5.8 per cent. VietinBank’s adjustment level is similar to that of BIDV and the highest deposit interest rate is only 5.8 per cent per year, applied for a term of 12 months or more. Overall, Agribank, BIDV, VietinBank, and Vietcombank all lowered interest rates for terms of less than 12 months by 0.3 percentage points, while … [Read more...] about Lending rate lag still causing bank unease

A customer borrows at a SHB’s transaction office in Hà Nội. Outstanding loans for real estate of SHB in H1 2023 increased by 88.8 per cent compared to the beginning of the year. — VNA/VNS Photo Outstanding loans to the real estate sector in the first half of 2023 surged by 17.4 per cent, exceeding the 10.7 per cent growth rate of the whole of 2022, according to data from the State Bank of Việt Nam (SBV). Data of 17 listed banks showed their total outstanding loans for the real estate sector in the first half of 2023 reached VNĐ426 trillion, up 36.2 per cent compared to the end of last year. The proportion of the banks’ loans in this sector also increased from 8 per cent at the end of 2022 to 10 per cent at the end of the second quarter of 2023. The rise showed banks were still continuing to inject capital into the real estate sector even though the real estate market had not improved much. According to the data, 14 out of the 17 banks recorded an increase in outstanding loans … [Read more...] about Bank loans to real estate business rise in H1 2023

With an ambitious target of 8.4 million users, Thailand’s second-largest bank, Kasikornbank (KBank), is priming to pour more than $1 billion into Vietnam between now and 2027, it announced a fortnight ago. Thailand lending duo on the march with fortifying presence KBank chairman Pipit Aneaknithi revealed that a lion’s share of this investment, $735 million, is earmarked for banking operations. “The remaining funds are set to bolster two of KBank’s subsidiaries in Vietnam: the KVision investment fund, with an infusion of $336 million, and technology firm KBTG, receiving $7 million,” he said. Currently, KBank operates a representative office in Hanoi and a Ho Chi Minh City branch that has been licensed since 2021, with initial capital of $80 million. In May, it escalated capital to $285 million, making it the second-highest capitalised foreign bank branch in Vietnam. “For KBank, Vietnam is deemed a pivotal growth sector in Southeast Asia. Furthermore, the … [Read more...] about Thailand lending duo on the march with fortifying presence

A worker carries out technical checks at a steel factory of Hòa Phát Group (HPG). HPG rose 4.3 per cent on Wednesday. — Photo courtesy of Hòa Phát Group Vietnamese markets ended Wednesday higher as the injection of cash flow supported the market and outweighed the sell-off pressure. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.85 per cent, to close the day at 1,245.50 points. The breadth of the market was in positive territory, with 356 stocks up and 145 trading lower. During the session, investors poured more than VNĐ25.2 trillion (US$1 million) into the southern market, equivalent to a trading volume of 1.1 billion shares. The VN30-Index also closed higher at 1,260.03 points, up 1.24 per cent. Twenty-two stocks of the VN30 basket climbed, while four went down. The VN-30 group performed positively and bolstered the market. The best performers in the VN30 group were Vietinbank (CTG), PetroVietnam Gas JSC (GAS), Hòa Phát Group (HPG), Khang Điền … [Read more...] about Shares end higher on cash flow injection

Alongside PetroVietnam and Samsung, several other household names dominated the charts, such as Viettel, Vietcombank, Techcombank, BIDV, MB, Agribank, and VPBank. Among the private enterprises featured were notable high performers like Techcombank, VPBank, ACB, Vingroup, VIB, Vinamilk, HDBank, Hoa Phat, SHB, and TPBank. Despite not reaching their pre-pandemic heights, there has been a marked improvement since 2022. The average return on assets (ROA) of these 500 enterprises saw growth across all three sectors. The foreign-invested enterprises (FIEs) led the pack with an impressive 13.7 per cent, registering the most substantial surge of 2.7 per cent. Their growth stands as testament to the stability of their business and their ability to derive profit from assets. Meanwhile, the private and state-owned businesses followed suit, recording respective ROAs of 11.2 per cent and 9.2 per cent. 2023 also witnessed a noteworthy shift in the average return on equity. FIEs and the … [Read more...] about Vietnam’s 500 most profitable firms for 2023 unveiled

Individual investors net bought 3.38 trillion VND on HOSE in August, of which net buying through order matching was 4.37 trillion VND. (Photo: VNA) Hanoi (VNS/VNA) - The exchange-traded funds (ETFs) investing in Vietnamese stocks recorded a net withdrawal of nearly 4.5 trillion VND (187 million USD) in August, the strongest monthly net withdrawal value in more than two years, according to data from FiinGroup. In the first eight months of 2023, cash flow into ETFs investing in Vietnamese stocks reached more than 2.8 trillion VND, but down significantly compared to the 7.3 trillion VND recorded in the first seven months of 2023. Net withdrawal activity was recorded in both domestic and foreign ETFs. The foreign ETF fund group accounts for nearly 62% of the total net withdrawal value, equivalent to nearly 2.8 trillion VND, mainly in the two funds KIM KINDEX Vietnam VN30 ETF and Fubon FTSE Vietnam ETF. In August 2023, foreign investors net sold nearly 2.55 trillion … [Read more...] about ETFs report strongest monthly net withdrawal value in August

A Petrovietnam's drilling platform on Bach Ho oil field. Petrovietnam has secured the top spot on the list of PROFIT500 in 2023. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam Report and the online newspaper Vietnamnet have announced a list of the 500 most profitable companies (PROFIT500) in Vietnam in 2023. Among the companies, the ten on top comprise Petrovietnam, Samsung Electronics Vietnam Thai Nguyen, Viettel, Vietcombank, Techcombank, Petrovietnam Exploration Production Corp, BIDV, Military Bank, Agribank, and VPBank. The ten most profitable private companies, meanwhile, consist of Techcombank, VPBank, ACB, Vingroup, VIB, Vinamilk, HDBank, Hoa Phat, SHB, and TPBank. Foreign direct investment companies maintained the lead in terms of return on assets ( ROA ) with 13.7%, up 2.7% year-by-year. Companies operating in the private sector came next with 11.2% and were followed by those in the public sector (9.2%). About one-third of companies on PROFIT500 expected … [Read more...] about Vietnam Report publishes list of most 500 profitable companies in 2023