SSI gets $100 million unsecured loan from Taiwanese banks

July 28, 2021 - 07:39

SSI Securities Corporation has signed a contract for an unsecured loan worth US$100 million with some of Taiwan's leading banks led by Union Bank of Taiwan and Taipei Fubon Commercial Bank and with the participation of Bank of Taiwan, Taiwan Shin Kong Commercial Bank, Hua Nan Commercial Bank and others.

SSI Securities Corporation gets an unsecured loan worth US$100 million from some of Taiwanese leading banks. — Photo courtesy of SSI

HCM CITY — SSI Securities Corporation has signed a contract for an unsecured loan worth US$100 million with some of Taiwan's leading banks led by Union Bank of Taiwan and Taipei Fubon Commercial Bank and with the participation of Bank of Taiwan, Taiwan Shin Kong Commercial Bank, Hua Nan Commercial Bank and others.

The loan has a maximum term of 12 months with short-term interest rates as is common in the international market, and is expected to be disbursed in two tranches.

This is the largest unsecured loan provided by foreign banks to any securities companies in Việt Nam.

SSI, which has a charter capital of nearly VNĐ 6.5 trillion ($282.6 million), has for years been the country’s largest securities company.

Its revenues and pre-tax profits in the first half of this year were VNĐ3.2 trillion ($139 million) and VNĐ1.2 trillion ($52.1 million), representing year-on-year increases of 38 per cent and 84 per cent.

In the past SSI has got unsecured loans of $85 million from a group of nine foreign banks and $55 million from Taiwan’s SinoPac Bank. — VNS

Tags total assets SSI unsecured loan

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Upgrade expected to raise capacity at int’l port cluster in the south

The Cái Mép – Thị Vải port cluster in the southern province of Bà Rịa-Vũng Tàu is investing in upgrading infrastructure to increase cargo-loading capacity, according to Tân Cảng Sài Gòn Corporation.

Economy

Stores work hard to follow limited operating hours

Lưu Thế Hiển, 28, a deliveryman in HCM City, said he was rushing to deliver the last shipment of the day before 5pm, when the booking application automatically turns off until 6am the next day.

Economy

Shares gain on strong cash flow

Việt Nam's stock market settled higher on Tuesday as stocks in all sectors recovered from recent losses thanks to a strong injection of cash flow.

Economy

Việt Nam, Laos enjoy growth in two-way trade in H1

Việt Nam and Laos continued to enjoy growth in import-export revenue in the first half of 2021 compared to the same period last year.

Economy

Vaccination 'key' to rapid economic recover

The fastest way for the economy to recover from the COVID-19 pandemic is for people to get vaccinated, RMIT’s School of Business and Management lecturers and researchers Dr Greeni Maheshwari and Dr Daniel Borer have said.

Economy

Domestic trade to make up 15 per cent of GDP by 2030

A strategy for developing domestic trade between 2021 and 2030 has been signed off by Deputy Prime Minister Lê Văn Thanh, aiming to raise domestic trade’s proportion in the country’s GDP to 15-15.5 per cent in the next 10 years.

Economy

Authorities crackdown on home-based businesses

Authorities in Thanh Xuân have sent out inspection teams in a crack down on residential properties being used for commercial purposes.

Economy

PVGas's profit jumped over 34 per cent in Q2

PetroVietnam Gas JSC (PVGas, GAS) reported profit after tax of more than VNĐ2.3 trillion (US$100.1 million) in the second quarter of 2021, resulting in a rise of 4.3 per cent in profit after tax in the first six months of this year.