In a report on the prospects for the banking industry this year, analysts from the SSI Securities Corporation forecast that banking profits will bounce bank in 2021.
Hanoi (VNA)ꦦ - In a report on the prospects for the banking industry this year, analysts from the SSI Securities Corporation forecastthat banking profits will bounce bank in 2021.
They estimated that pre-tax profit of banking stocks will grow 21percent annually. State commercial banks will see a 30 percent rise in pre-taxprofits compared to 17.2 percent in joint stock commercial banks. It will be driven by expanded credit and slight improvements in net interestmargins. SSI predicted that net profit will rise by 15 percent while creditwill grow 12-13 percent year-on-year. Banks will continue to benefit from deposit rates going down to 2-2.5percent last year. Sharing a similar view, analysts from the BIDV Securities Company (BSC)also attributed higher banking profits to economic recovery and good assetquality control following the COVID-19 pandemic. They said pre-tax profits will grow 28 percent, added to by a 14 percentexpansion in credit. Restructured debts will not affect the quality of common assets in thesector. Meanwhile, the VNDIRECT Securities Corporation said banks will be thefirst to benefit from economic recovery./.
The Technological and Commercial Joint Stock Bank (Techcombank) has reinforced the strength of its customer centric strategy in delivering strong 2020 financial results.
The corporate bond market in Vietnam is expected to be robust this year as the Government has issued regulations to untie the market but still aimed to ensure transparency and healthy market development.
E-wallets are gearing up to offer online lucky money services as the Tet (Lunar New Year) holiday approaches amid the third coronavirus outbreak in Vietnam.
The Vietnam Bank for Agriculture and Rural Development (Agribank) jumped 17 spots to rank 173rd in the recently announced Brand Finance Banking 500 list for 2021, which featured the most valuable and strongest banking brands in the world.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Illustrative image (Photo: VNA) 
