return icon Vietnamnet.vn

Pocketing trillions of dong, businessmen succeed in new fields

A number of businessmen returning from Eastern Europe have been making great marks in the banking sector.

VIBBank has released a resolution on the 2020 extraordinary shareholders’ meeting which discussed the increase of capital and amendment of charters.

 

 

{keywords}

 


At the 2020 annual meeting, shareholders approved a series of plans, including the payment of bonus shares, the increase of charter capital to VND11.094 trillion, the listing of shares at the HCM City Stock Exchange in November and the targeted profit of VND4.5 trillion.

Analysts predict that three bank shares will be put into transactions on HOSE this year, including SHB, ACB and VIB.

ACB and SHB said they are planning to move from the Hanoi Stock Exchange (HNX) to HOSE.

A number of businessmen returning from Eastern Europe have been making great marks in the banking sector.

VIB has attracted attention from domestic individual investors with many large transactions reported. However, many large institutions and investment funds still have not added VIB to their investment portfolios because VIB is listed on UpCom.

VIB is one of the 10 banks with the highest profits in the banking system and is the first bank to fulfill all three pillars of Basel II (minimum capital, supervisory review process, and market discipline disclosure).

In 2019, VIB reported record high profit of VND4 trillion. In H1 2020, it implemented 52 percent of the yearly plan, despite Covid-19.

The bank has been focusing on lending to individual clients and not on providing large-scale loans. Therefore, it has not had bad debts in the last three years. Around 85 percent of outstanding loans have been provided to individual clients, and 97 percent of them have good collateral.

A number of private banks have the highest profits, including Techcombank of Ho Hung Anh, VP Bank of Ngo Chi Dung, ACB of Tran Hung Huy, HDBank of the only female dollar billionaire Nguyen Thi Phuong Thao, and VIB and TP Bank of Do Minh Phu. They have diversified sources of revenue, low bad debt ratios, and higher safety levels.

Most of the businessmen returning from Eastern Europe have been successful in Vietnam. Pham Nhat Vuong, the first Vietnamese dollar billionaire, has appeared in local newspapers with a series of moves taken to restructure his Vingroup. Vuong now focuses on industry (automobiles, motorbikes, internal combustion engines and electricity) and technology products (mobile phones, TVs).

Meanwhile, billionaire Nguyen Dang Quang, with the company Masan, has been expanding business rapidly. Quang has jumped into the chilled meat sector, listed MML shares on the bourse, and taken over Vinmart, the retail division which once belonged to Vingroup. 

V. Ha

Dollar billionaire Pham Nhat Vuong restructures his business network

Dollar billionaire Pham Nhat Vuong restructures his business network

Vuong has made a number of moves recently to restructure his huge business system to shift his development strategy to technology, industry and services.

How can VN stock market attract 'super' investors?

How can VN stock market attract 'super' investors?

Some government officials say Vietnam needs to attract ‘eagles’, as it calls big and 'super-big' investors, to help upgrade the stock market.

MORE NEWS

VIETNAM BUSINESS NEWS MAY 27

Vietnam to have 184 fishing ports by 2050: draft plan

Omicron subvariants under close scrutiny in Vietnam

The Vietnamese Ministry of Health said it is closely monitoring the emergence of new sub-lineages of the Omicron variant that causes the COVID-19 disease worldwide to promptly adopt control measures if they are reported in Vietnam.

Vietnam elected as member of two ESCAP Regional Center Executive Councils

Two Vietnamese agencies have won election to the Executive Councils of the UN Statistical Institute for Asia and the Pacific and Centre for Sustainable Agricultural Mechanisation under the UN Economic and Social Commission for Asia and the Pacific.

VIETNAM NEWS HEADLINES MAY 27

Dien Bien rushes to evacuate 26 more households over landslide risk

Shelter cares for 20 breast cancer patients in HCM City

No longer allowed to stay in a hospital, a breast cancer patient sold her house to rent and provide a shelter for 20 patients coming from all over the country to Ho Chi Minh City for chemotherapy and radiation treatment.

G&P Global Ratings raises Vietnam’s sovereign credit rating

The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB+” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance.

Domestic airlines offer millions of tickets for summer travel season

Anticipating that travel demand during the upcoming summer will rise sharply, and even higher than the pre-pandemic levels, local carriers are offering millions of air tickets.

American doctor’s endless love for Vietnamese ethnic minority cultures

When listening to him talk for hours and hours about the objects he found by chance on trips to different mountainous regions, it is easy to see Mark Rapoport's passion for the ethnic groups of Vietnam.

Two new Viettel inventions granted exclusive protection certificate in the US

Viettel Aerospace Institute (VTX), a member of Viettel Group, was officially granted an exclusive protection certificate by the US Patent and Trademark Office (USPTO) for two works in the field of optoelectronics and materials industry.

SEA Games 31 fuels recovery of local tourism industry

The hosting of the recent 31st Southeast Asian Games (SEA Games 31) between May 12 and May 23 can be viewed as a golden chance for the local tourism industry to recover after months of little activity due to the impact of the COVID-19 pandemic.

HCM City Mayor shows concerns as doctors turn from ‘heroes’ to ‘violators’

With great efforts in the fight against Covid-19, medical workers have been honored as heroes.

Stopping the licensing of new airlines, restricting the expansion of fleets

Controlling the number of new airlines until the market recovers and restricting licensing to expand fleets in the immediate time are solutions proposed by the State Capital Management Commission (SCMC).

Luxury-tax hike should be postponed until after 2024

Discussing the luxury tax law, experts said it is necessary to design a reasonable taxation roadmap and begin raising the tax only after 2024.

Huge haul in new markets for Vietnam’s tra fish exports

Demand for Vietnam’s tra fish (pangasius) is up in major markets, driving the export of the catfish overseas, reports the Vietnam Association of Seafood Exporters and Producers (VASEP).

Facebook collects money from partners to pay tax in Vietnam

The amount of money Facebook is planning to collect from Vietnamese partners accounts for 5 percent of invoice value. The money will be used to fulfill tax obligations.
back_to_top