Remittances to Việt Nam could fall due to US policies
Overseas remittances to Việt Nam are expected to decline mainly due to global factors.
On the first day of the new year the Government issued Resolution No 01/NQ-CP/2019 for the robust development of the securities market, especially the derivatives segment.
On December 11 the State Bank of Việt Nam reduced the value of the đồng against the US dollar by VNĐ9 from the previous day to VNĐ22,775 (US$1).
In the first nine months of the year, the Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank)’s pre-tax profit exceeded the full-year 2017 figure and closed in on the year’s target.
Analysts believe banking credit growth will ease off next year, but since lending activities will mainly be focused on the economy, growth will not be affected.
The State Bank of Việt Nam (SBV) withdrew a total VNĐ18.87 trillion (nearly US$829 million) from the market in the week of November 26-31.
In the third quarter of this year Techcombank decided to pay stock dividends for 2017 to its shareholders at a ratio of two shares for each share held.
Chu Anh Tuấn, deputy general director of property developer Hà Đô Group, said recently his company expects consolidated profit after tax to be VNĐ700 billion (over US$30.43 million) this year.
A report from the Hồ Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans.