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Article 55 restricts ownership in credit institutions as follows: individuals may not own more than 5 per cent of the chartered capital of a credit institution; an institutional shareholder may not own more than 15%; and a group of shareholders together may not own more than 20%. … [Read more...] about M&A picks up speed in banking

As consumer finance firms are unable to raise capital from individuals, their finance comes from diverse sources such as through bond issuances or foreign loans. This reliance contains latent risks to refinancing due to uncertainties of the financial system. This kind of risk, however, is insignificant in Vietnam as current ratio of consumer lending on the total outstanding balances is still low at about 12.3 per cent (in 2019) compared to that in other countries. … [Read more...] about Protecting investors at head of consumer finance concern

Two investors installed yellow glass on the facade of the two buildings on Nguyen Van Linh and Nhu Nguyet streets in Hai Chau District. Since then, many residents have complained that they were blinded by the intense sunlight reflected off the building. It has also caused traffic problems. The 15-storey office building SHB Danang which was invested by the Saigon-Hanoi Bank on Nguyen Van Linh Street has the yellow glass on three of its sides. The 31-storey Risemount Apartment Danang invested by PAVNC JSC also used similar glass. After receiving the complaints the local authorities have asked the investors to find solutions to deal with the reflective glass but nothing was done. Recently it was reported that the investor of SHB building offered to use film layers on the building facade while bonsai and curtains will be used on the Risemount Apartment. The Department of Construction is reviewing the proposed solution. On May 26, Nguyen Minh Huy, vice chairman of Hai Chau District … [Read more...] about Danang to fine owners over reflective building facades

Facing the same fate, selling pressure sent the HNX-Index of the Hanoi Stock Exchange dipping by 1.6 points, or 1.45%, against the session earlier, to 108.89. Many large-cap stocks, including lenders ACB and SHB, industrial company VCS and gas firm PVS, were among key drags on the northern market. … [Read more...] about Profit taking sends stock market down

Among gaining bank stocks were Sai Gon-Ha Noi Bank (SHB), Sacombank (STB), Bank for Investment and Development of Vietnam (BID), and Vietcombank (VCB). … [Read more...] about Banks, chemical and plastic firms lift market up