The State Audit of Vietnam has proposed the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) pay the State Budget nearly VNĐ2.5 trillion (US$110.9 million) worth of dividends, taken from the brewer’s undistributed profit for the period prior to 2016.
Commercial banks and financial companies are fiercely competing for a slice of the profitable personal-loan market as demand often rises sharply at the end of the Lunar New Year.
Standard Chartered Bank (Hong Kong) has ended its “12-year marriage” with Asia Commercial Bank (ACB), offloading its entire holding of more than 154 million shares in the Vietnamese bank.
Many banks have reportedly gained high profit last year, helped by strong credit growth and initial gains in the settlement of bad debt.
BNP Paribas has offloaded its entire stake of over 74.7 million shares, or 18.68 per cent of capital, in Orient Commercial Bank (OCB), ending the 10-year alliance between the two banks.
Việt Nam is one of the world's fastest growing e-commerce countries, Lại Việt Anh, deputy director of Việt Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade, said.
Orient Commercial Joint Stock Bank (OCB) on Wednesday announced the completion of its Basel 2 project, two years after implementation.
The Bank for Foreign Trade of Việt Nam (Vietcombank) on Monday was estimated to receive VNĐ342.6 billion (US$15.2 million) from selling its entire stakes in the Saigon Bank for Industry and Trade (SaigonBank) and Việt Nam Cement Finance Company (CFC).
Profits of many commercial banks this year will hit the highest levels since 2012 thanks to rising capital demand, experts have forecast.
Vietnamese banks are scrambling to adopt the quick response (QR) payment system amidst rumours that major Chinese players AliPa and WechatPay are looking to set up shop in the country.