Saigon Thương Tín Commercial Joint Stock Bank (Sacombank) has set itself a target of increasing its assets to VNĐ430.9 trillion (US$18.92 billion) this year, an increase of 16.9 per cent from last year.
After making an entry into the automobile manufacturing industry, Vingroup, the country’s leading property company, has set its sights on the US$5.3 billion pharmaceutical sector.
The banking sector will enjoy another strong year in 2018, experts told a seminar in HCM City on Thursday.
For the first time, Sài Gòn Thương Tín Commercial Joint Stock Bank (Sacombank) is offering customers free remittance receipt services at its ATMs.
Real estate lending continued to remain high at more than 10 per cent of the total outstanding loans in several banks.
The global price of oil has increased from US$60 per barrel early this year to $70 now, and the uptrend is forecast to continue.
Việt Nam’s stock market is forecast to struggle due to uncertain market sentiment this week, as external factors increase volatility in the market.
Strong cash flow poured in to the brokerage and real estate sectors helped push the benchmark VN-Index to a new record high of 1,200 points in the morning session and maintain the uptrend during most of yesterday session, with stronger growth in the last minutes of trading.
Việt Nam’s benchmark VN Index made a three-day increase to near the all-time peak of 1,200 points yesterday on strong growth of property developers and building contractors.
Since last year there has been a churn in the banking sector with some foreign investors selling their stakes in local banks and others buying in.