Hanoi (VNS/VNA) - The Ho Chi Minh City Development Joint Stock Commercial Bank (HOSE: HDB) plans to pay a dividend of 65 percent for 2019, 50 percent in stocks and 15 percent in bonus shares. The lender announced this at its annual general meeting in HCM City on June 13. The charter capital of HDBank, as it is known, will increase from the current 9.8 trillion VND to nearly 16 trillion VND after the dividend payment. The bank aims to increase its charter capital to meet the State Bank of Vietnam’s requirements to improve its financial capacity to develop its client network, expand market share and business scale, diversify banking services, and improve risk management capability. The bank also aims to supplement its medium- and long-term capital, enhance its infrastructure, and build a headquarter with a modern information technology system. This year HDBank expects its total assets to increase by 33 percent to 305 trillion VND, deposits to 275 trillion VND, up 35 … [Read more...] about HDBank to pay dividend at a rate of 65 percent
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In the economic outlook for the second quarter entitled “Darkest before the dawn”, the bank said the manufacturing sector, which accounts for one-third of the country’s GDP, is expected to grow only 3 percent this year compared to 11 percent in 2019. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
Luxury car production and assembly in the country with high prices will benefit the most. In Viet Nam, the only luxury car brand assembled in the country is Mercedes-Benz, with the most expensive model the S 450 L Luxury, priced from VND4.2 to VND4.9 billion. Registration fees were previously from VND420 million to VND596 million but now cost only from VND210 million to VND298 million. … [Read more...] about Car sales rocket after registration fee cut
Hanoi (VNA) - Bloomberg newspaper said on June 29 that Vietnam’s economy unexpectedly grew in the second quarter despite the impact of COVID-19. It cited data from the General Statistics Office (GSO) as saying that GDP rose 0.36 percent year-on-year compared to a revised 3.68 percent in the first quarter. The median estimate in a Bloomberg survey of economists was for GDP to shrink 0.9 percent. On a six-month calculation, GDP grew 1.81 percent, making Vietnam one of the best performers in Southeast Asia. Exports fell 2 percent in June compared to a year earlier, while imports climbed 5.3 percent. The CPI rose 3.17 percent year-on-year in June and 2.4 percent month-on-month. The government aims to cap average inflation at 4 percent this year. The article said Vietnam’s export-reliant economy is taking a knock as the virus disrupts global supply chains and dampens demand, and added that Prime Minister Nguyen Xuan Phuc had forecast in May that the economy could post … [Read more...] about Bloomberg: Vietnam’s economy grows unexpectedly in Q2
VIB reported high and quality retail growth. Lending to individuals and small businesses increased by 46 per cent to VND110 trillion ($4.78 billion) from the beginning of the year, making up 82 per cent of its total gross loans. With 24 per cent market share, VIB has been the No.1 bank in the market for automobile loans for three years in a row. … [Read more...] about VIB secures $70 million loan from international finance institutions