All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
Việt Nam’s head coach Park Hang-seo and striker Nguyễn Văn Toàn at the press conference between Việt Nam and Indonesia in the World Cup qualifier in Indonesia yesterday. Việt Nam set to beat Indonesia. Photo phapluatplus.vn Football HÀ NỘI Việt Nam’s head coach Park Hang-seo is confident his charges will secure a win against Indonesia in the World Cup 2022 qualifiers today. The game will take place at the Kapten I Wayan Dipta Stadium in Bali. Việt Nam gained their first win of the qualification campaign against Malaysia last Thursday after they were held to a goalless draw by Thailand in their opener last month. Meanwhile, Indonesia have lost all three of their qualifiers so far. “Việt Nam had a difficult match at home against Malaysia. Tomorrow, we have another game with Indonesia away. Our rivals are very strong but fans can beleieve in us,” said South Korean coach Park … [Read more...] about Việt Nam prepare to beat Indonesia: coach Park
HCM City Development Joint stock Commercial Bank (HDBank) announces that its shareholders had approved a plan to buy a maximum of 5 per cent of its 981 million shares being traded on the market. — Photo topbank.vn On October 10, the HCM City Development Joint stock Commercial Bank (HDBank) announced that its shareholders had approved a plan to buy a maximum of 5 per cent of its 981 million shares being traded on the market, equivalent to 49 million shares. The VND1.3 trillion (US$57.5 million) it is estimated to cost will come from its reserves and surplus. The lender expects this to push up the price of its shares, which trade at around VND27,500. The buyback would also be a highly effective investment for the bank and its shareholders, its top executives said. Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) also unveiled plans to buy back stocks to improve earnings per share and bolster their price. It is expected to buy a maximum of 50 million shares from the market … [Read more...] about Buybacks expected to perk up bank stocks
PetroVietnam Gas engineers at a facility (Photo: vietnamfinance.vn) Hanoi (VNS/VNA) - Vietnam’s benchmark VN-Index could breach the 1,000 point mark in the last quarter of the year after the Q3 corporate earnings season and with investors shifting attention towards firms with hopes for full-year earnings growth. The benchmark VN-Index on the Ho Chí Minh Stock Exchange gained 0.72 percent to close last week at 997.84 points.foreign investors.US-China trade talks, which opens on October 10. VNA … [Read more...] about Vietnam stocks to beat 1,000 points in Q4
The State budget’s domestic revenue in the first eight months of 2019 is estimated at 808.8 trillion VND (34.8 billion USD), according to the Ministry of Finance (Photo: petrotimes.vn) Hanoi (VNS/VNA) - The State budget’s domestic revenue in the first eight months of 2019 is estimated at 808.8 trillion VND (34.8 billion USD), according to the Ministry of Finance. The figure is equal to 68.9 percent of the full-year plan and up 13.9 percent year on year. The domestic revenue is made up of a variety of taxes and charges, and collected from different sources such as State-owned, FDI and private enterprises, agricultural land use, personal income and vehicle registration. It is also estimated that domestic revenues collected by 55 of all 63 provinces and cities have beat the full-year target, which is set at 65 percent. Of the figure, 46 provinces and cities recorded that their domestic revenues fulfilled 68 percent of the year’s target. Besides domestic … [Read more...] about State domestic revenue reaches 34.8 billion USD in eight months