Vietnam bank for agriculture and rural development

Despite good business results, 11 out of 17 listed commercial banks saw share prices decrease in the first half of the year. The first Q2 financial reports have been released by banks, and most reported satisfactory profits. Commenting about banks’ profit growth cycle, analysts said the peak of the cycle came in 2017-2018, and the banking sector had entered the stable growth period. The ROAA and ROAE indices were 1.62 percent and 25.19 percent, respectively.  As of the end of June the total assets of ACB had reached VND352 trillion and the bad debt ratio 0.7 percent. The State Bank allowed it to lift the credit growth ceiling from 13 percent to 17 percent. In the first half of the year, its outstanding loans increased by 9 percent, or VND20 trillion. Banks not only reported fat profits, but also made significant progress in settling bad debt. At Sacombank, the pre-tax profit hit VND1.5 trillion in the first six months of the year m, and the bad debt ratio … [Read more...] about VN banks make big profits but share prices fall

It is obvious that China has no legal waters which could be the overlapping area, or in dispute w with Vietnam's exclusive economic zone and the southern continental shelf, including the Vanguard Bank. According to the East Sea (internationally known as the South China Sea) Chronicle Initiative, since July 3, 2019, Haiyang Dizhi 8, a Chinese geological exploration ship has been operating in the territorial waters belonging to the Vietnam’s special economic zone, near the Tu Chinh – Vung May (Vanguard Bank – Rifleman Bank). The ship is escorted by at least three Chinese maritime surveillance vessels as discovered by satellites, including a 12,000 ton maritime surveillance ship, 3901 and a marine militia ship, Qiong Sansah Yu0014. Satellite signals also dicovered the presence of three Chinese maritime surveillance vessels, Haijing 37111, Haijing and Zhongjing Zhongjing 46303. It is obvious that China has no legal waters which could be the overlapping area, or in … [Read more...] about China has no waters at the Vanguard Bank

The Republic of Korea (RoK)’s non-governmental organisation Medipeace held a forum on November 11 to seek ways to enhance the Vietnam-RoK cooperation in supporting the disabled in the central province of Quang Tri. Secretary of the Quang Tri provincial Party Committee Nguyen Van Hung speaks at the forum in Seoul on November 11 At the event, held at the headquarters of the Korean International Cooperation Agency (KOICA) in Seoul, Secretary of the Quang Tri Party Committee Nguyen Van Hung said there remain numerous difficulties facing people with disabilities in his province, and they need more support from the whole of society, including NGOs and foreign governments, to bring into play their abilities and help them overcome social barriers so they are not left behind. He believed the model of combining social services with functional rehabilitation centres services used in the RoK is suitable for Vietnam. He expressed his hope that KOICA will sponsor the building of a … [Read more...] about Vietnam’s province calls for more support from RoK for the disabled

The SBV is collecting opinions to complete the latest draft circular about using national fund for monetary policies The SBV is collecting opinions to complete the latest draft circular about using state funds for monetary policies. Purchasing stock in banks under special review is one of many opinions under discussion for the draft. Accordingly, state funds could be used to purchase stocks of credit organisations and banks under special review. This would enable the SBV to directly participate in restructuring their bad debts. Since beginning the restructuring of commercial banks in 2011, the SBV has purchased a few banks for VND0 and put others under special review. The state budget has not been used to make capital contributions to banks or to resolve bad debts. Most recently, the SBV sent a proposal to the National Assembly to review and adjust previous resolutions on pouring capital into commercial banks. The proposal did not mention the purchased commercial banks. However, … [Read more...] about SBV may be able to purchase bank stocks under special review

Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health. A corner of the Vietnam Motor Show 2019 The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 11 that total car sales in October reached 28,948 units, a slight increase of 4.3 percent compared to September but much lower than the rest of the year. Of the total number, sales of passenger cars inched up 2 percent to 21,355 vehicles, while figures for commercial and special-purpose vehicles leaped 11 percent and 14 percent to 7,228 and 365, respectively. Some 16,406 domestically-assembled cars were sold, falling 3 percent month on month, while sales of imported units climbed 16 percent to 12,542. Toyota continued to lead sales with 7,216 vehicles, followed by Misubishi (3,566 units), Ford (3,114 units), and Honda (3,058 units). A series of promotions were offered by dealers … [Read more...] about Vietnam’s auto market filled with gloom despite falling prices