By Minh Son  March 13, 2019 | 07:57 pm GMT+7 A SeABAnk employee serves a customer at a branch in Hanoi. Photo by VnExpress/SB French multinational investment bank and financial services company SocGen has divested its 20 percent stake in SeABank. A bank representative told VnExpress that the Société Générale Group (SocGen), as part of a non-core assets sales spree, has completely divested its stake in Hanoi-based private bank Southeast Asia Bank (SeABank). SocGen began divesting its stake since the beginning of 2018 in order to restructure its investment portfolio, as it exits non-core markets in Vietnam and all of Asia, the representative said. Previously, SocGen had also divested 100 percent of its stake in its own consumer finance arm in Vietnam, selling Société Générale Vietnam Finance Company Limited (SGVF) to HDBank. The French investment group is pulling out of many of its investments globally. In February 2018, it … [Read more...] about Global investment bank SocGen offloads SeABank stake
Kbw investment bank
Credit Suisse named Vietnam’s Best Investment Bank for ninth time
Credit Suisse has been named Vietnam’s Best Investment Bank at the Euromoney 2018 Awards for excellence and best international investment bank at the FinanceAsia 2018 Country Awards, both for the ninth time. Euromoney also recognised Credit Suisse as Asia’s Best Investment Bank for the first time. Credit Suisse received the coveted title for the ninth time in Vietnam Commenting on the awards, Helman Sitohang, Credit Suisse CEO for Asia Pacific, said: “These accolades are a testament to Credit Suisse’s position as the trusted bank for entrepreneurs in Asia Pacific. I am delighted that we are the only bank over the last two years to have been recognised as the Best Investment Bank, Financing House and Wealth Manager in Asia. These strengths are core to delivering holistic advisory and solutions that meet the wealth and corporate interests of clients in the region. Our clients’ confidence in Credit Suisse is reflected in these awards, and … [Read more...] about Credit Suisse named Vietnam’s Best Investment Bank for ninth time
Credit Suisse named Viet Nam’s best investment bank for the 9th time
Credit Suisse awarded Asia’s Best Investment Bank by Euromoney. — VNS Photo Credit Suisse has been named Viet Nam’s best investment bank in the Euromoney 2018 awards for excellence and best international investment bank in the Finance Asia 2018 Country Awards for Achievement, winning each award for the ninth time. Euromoney also recognised Credit Suisse as Asia’s Best Investment Bank for the first time. Chris Wright, the Asia Editor of Euromoney, one of the world’s leading global banking and capital markets publications, said: “Credit Suisse is a story of finding profitable niches and attacking them with commitment, innovation and smart use of the balance sheet”. Credit Suisse has been active in Viet Nam since 2001 and working with many of the leading corporations and burgeoning entrepreneurs in the country over the years, raising over US$7 billion for Vietnamese clients and advising on many landmark transactions. “We will continue to … [Read more...] about Credit Suisse named Viet Nam’s best investment bank for the 9th time
VCSC focuses on investment banking
Viet Capital Securities Company (VCSC) will focus on investment banking in 2018, a sector expected to contribute VND458 billion (US$20.3 million) to the firm’s total post-tax profit this year.— Photo tinnhanhchungkhoan.vn Viet Capital Securities Company (VCSC) will focus on investment banking in 2018, a sector expected to contribute VND458 billion (US$20.3 million) to the firm’s total post-tax profit this year. VCSC targets VND1.7 trillion in total revenue this year and VND1 trillion in pre-tax profit, a yearly increase of 11 per cent and 26 per cent, if the benchmark VN Index ended above the 1,000-point level at the end of this year. If the VN Index falls below 500 points, VCSC would record VND250 billion in pre-tax profit, the firm’s management board said at the annual shareholder meeting this week. Besides investment banking, other core sectors that VCSC will focus on include trading brokerage (VND491 billion), stock investment (VND444 billion) and … [Read more...] about VCSC focuses on investment banking
Vietnam commits to facilitate Australian investment: PM
Prime Minister Nguyen Xuan Phuc (standing) has meeting with Australia’s leading enterprises. (Photo: VNA) Sydney (VNA) – The Vietnamese Government pledges to maintain the stable macro environment, continue improving the institutional quality and State government, and boosting the rule of law, for foreign businesses, especially those from Australia, to land investment and expand operation in Vietnam, said Prime Minister Nguyen Xuan Phuc. In a meeting with Australia’s leading enterprises in finance, banking, agriculture and construction sectors in Sydney on March 17 during his official visit to Australia, PM Phuc hoped that more Australian investors will be interested in Vietnamese seafood import as Vietnam holds huge potential in this sector. Representatives from the Australian groups lauded Vietnam’s efforts in improving the business climate and investment promotion as well as promoting connections between enterprises from the two countries to bolster … [Read more...] about Vietnam commits to facilitate Australian investment: PM
Local banks to march to overseas markets
Local banks to march to overseas marketsBy Hong Phuc - The Saigon Times DailyHCMC – Several local banks are readying themselves for strategic moves to invest in other countries, focusing first on neighboring markets and then on those destinations where their customers are moving to, said central bank officials.Dang Thanh Binh, deputy governor of the State Bank of Vietnam, told the opening ceremony of the Military Bank’s branch in Cambodia’s Phnom Penh last week that several local banks were following suit.“Several Vietnamese banks have been deploying their plans to expand their business overseas,” he said.Some other banks that are speeding up their plans include Vietnam Maritime Commercial Bank (Maritime Bank) and Saigon-Hanoi Bank, the latter mulling a branch in Cambodia,said another central bank official.According to a well-informed source, Maritime Bank has undergone necessary procedures to set up its wholly-owned bank in Cambodia. Also, it intends to … [Read more...] about Local banks to march to overseas markets
New foreign-invested bank approved
New foreign-invested bank approvedTran Thu By Tran Thu - The Saigon Times Daily HCMC – The State Bank of Vietnam (SBV) has allowed Malaysia’s Public Bank Perhad (PBB) to form a 100% foreign-invested bank in Vietnam. The establishment license will be effective from April 1. The Public Bank Vietnam Limited, headquartered at the Prime Centre building at 53 Quang Trung Street, Hanoi, has chartered capital of VND3 trillion (US$133.3 million) and a licensed period of 99 years. Public Bank Vietnam is the sixth wholly foreign-owned bank in the country after ANZ Vietnam, Hong Leong Vietnam, HSBC Vietnam, Shinhan Vietnam and Standard Chartered Vietnam. Among them, HSBC Vietnam has the highest chartered capital, at VND7.5 trillion by end-2015. Public Bank Vietnam can provide banking services in line with the central bank’s regulations such as capital mobilization, lending and credit. On March 24, SBV governor Nguyen Van Binh allowed Public Bank Vietnam to adjust the names of … [Read more...] about New foreign-invested bank approved
European Investment Bank provides funding for Hanoi Metro
The European Investment Bank (EIB) has announced it will provide $171 million for the construction of Line No. 3 on the Hanoi Metro network and the purchase of new trains for the route. Once operational, the 12.5-km line with 12 stations will transform public transport in Vietnam’s capital, improving travel time, reducing transport costs, and cutting pollution. Bank to support $171 million in finance for construction of Hanoi Metro Line No. 3 and train purchases. The increased backing from the EU’s long-term lending institution was confirmed in Hanoi by Mr. Jonathan Taylor, EIB’s Vice President responsible for Asia, on January 10.“New investment to improve sustainable public transport and to reduce harmful emissions is essential for world cities,” he said following a visit to the urban railway line. “Daily travel for hundreds of thousands of people will be transformed by expanding urban transport in the capital and the construction of this new … [Read more...] about European Investment Bank provides funding for Hanoi Metro
European Investment Bank Vice President visits Vietnam
Mr Jonathan Taylor will be accompanied by the EIB’s Director for operations outside Europe and senior colleagues responsible for lending in the region. During the first high-level visit by the European Investment Bank to Vietnam in five years, the EIB will visit the site of its most recent climate related investment in Vietnam, the Hanoi metro project, and meet senior government ministers, city leaders and representatives of financial institutions and diplomats.Vietnam’s Deputy Prime Minister Trinh Dinh Dung received Mr Jonathan Taylor in Hanoi on January 9th, 2018. (Photo: Ngoc Bich) “The EU Bank is committed to strengthening climate related investment worldwide and Vietnam is a key partner for the EU in Asia. In recent years, we have supported transport, renewable energy and energy efficiency projects across Vietnam. I look forward to seeing at first hand the transformational impact of past EIB investment and discussing with Vietnamese Government, city and … [Read more...] about European Investment Bank Vice President visits Vietnam
European Investment Bank Vice President to visit Vietnam
A high-level delegation from the European Investment Bank, the world’s largest international public bank, will make a three day visit to Hanoi next week. The European Investment Bank is owned by the 28 European Union member states and has financed infrastructure across Vietnam since 1998. Jonathan Taylor, EIB’s Vice President responsible for operations in Asia. Jonathan Taylor, Vice President responsible for operations in Asia, will be accompanied by the EIB’s Director for operations outside Europe and senior colleagues responsible for lending in the region. During the visit the EIB will visit the site of its most recent climate related investment in Vietnam, the Hanoi metro project, and meet senior government ministers, city leaders and representatives of financial institutions and diplomats. “The EU Bank is committed to strengthening climate related investment worldwide and Vietnam is a key partner for the European Union in Asia. In recent … [Read more...] about European Investment Bank Vice President to visit Vietnam