A VietinBank transaction office. (Source: VietinBank)
Hanoi (VNA) – Many commercial banks postedpositive business performance for the first quarter of the year with highprofits.
The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) recorded the post-tax profit hittingover 2.2 trillion VND (97 million USD), up 20.1 percent from the same periodlast year. The figure made the bank the top of the list in terms of profit ofthe first quarter.
The Vietnam Bank for Industry andTrade (Vietinbank) got a pre-tax profit of 2.544 trillion VND (111.9 millionUSD), up 5.8 percent year-on-year, and post-tax profit of 2.039 trillion VND(89.7 million USD).
This is the strongest growth the bank has recordedsince 2011, according to Vietinbank Chairman of the Board of Directors NguyenVan Thang.
The Bank for Investment and Development ofVietnam (BIDV) earned nearly 2.277 trillion VND (100.1 million USD) and 1.848 trillion VND (81.3 million USD) in pre- and post-tax profits, respectively, upover 9 percent year-on-year.
Similarly, the Vietnam Technological andCommercial Joint Stock Bank’s (Techcombank) total pre- and post-tax profitswere 1.32 trillion VND (58.2 million USD), double the figure of the same periodlast year, and 1.059 trillion VND (46.6 million USD), respectively.
Meanwhile, the Military Bank (MB) recorded ayear-on-year increase of 22 percent to 1.055 trillion VND (46.4 million USD) inpre-tax profit, or 25 percent of the yearly plan. The bank hopes to post 4.532trillion VND (199.4 million USD) in pre-tax profit this year.
Also in the reviewed period, the Saigon ThuongTin Commercial JSC.’s (Sacombank) showed impressive performance with pre- andpost-profits hitting 309 billion VND (13.6 million USD), and 210 VND (9.24million USD), up 50 percent and 30 percent, respectively.
The Export-Import Bank (Eximbank) recorded afive-time increase 170 billion VND (7.48 million USD) in pre-tax profit, and136 billion VND (5.98 million USD) in post-tax profit.
According to the Department of Statistics and Forecastingunder the State Bank of Vietnam, the banking system’s the average growth isexpected to rise by 13.4 percent, higher than that of 2016.-VNA
Analysts of the Retail Research and Investment Advisory Division at Saigon Securities Incorporation (SSI) have predicted 2017 will be a challenging year for banks to increase their NIM.
The State Bank of Vietnam (SBV) will work to maintain interest rate stability, enabling firms to access credit for their production and business, SBV Governor Le Minh Hung has said.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
A VietinBank transaction office. (Source: VietinBank) 
