The shares of many textile and apparel companies are on a downward trend. This is a paradoxical situation since most textile companies are doing pretty well on the business front.
Prosperous business performance and positive bank share price trend in the stock market are expected to help some commercial banks meet capital increase deadline required by the State Bank of Việt Nam (SBV).
Việt Nam Prosperity Bank (VPBank) is among Việt Nam’s 50 best-performing companies and 50 best listed firms in 2017.
The Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) plans to add 10 per cent to its tier-1 capital in 2018 through issuing shares for foreign investors.
Total assets of banks in Việt Nam by the end of last year surged 17.62 per cent against 2016 to VNĐ10 quadrillion (US$440.5 billion).
Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) reported a pre-tax profit of more than VNĐ8 trillion (US$352 million) in 2017.
If banks failed to increase their capital, it would have a strong negative impact on their credit plans. They would not be able to serve the economy as well as they ought to.
“We are making greater efforts in ensuring the bank’s operation with the best and most transparent standards," VIB general director Hàn Ngọc Vũ said.
Maximum credit growth this year is forecast to be just 18-19 per cent, meaning that the banking system will not use up the increased room of 21 per cent.
Vietnam International Bank (VIB) will submit to the general shareholders meeting (GSM) a plan to use part of its after-tax profits to add to the bank’s core capital.