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Finance & Business News finance & business news 10 April 2017 FINANCE . 1 City rental market continues slump 37 Reference exchange rate up 5 VND 1 C&W: HCM City to have more office-for-rent space in 2017 38 What's happening in the retail banking market? 2 BIZ NEWS . 39 Vietnam banks' assets, registered capital 2 Business Briefs April 10, 2017 39 Banks target to earn trillion dong profits 5 Vietnamese stock market attracts foreign investors 40 Banks plan to raise charter capital in large number 6 Foreign investors rush to buy stake in Vietnamese businesses 41 Q1 credit grows sharply 7 VSD issues trading codes to 228 foreign investors 42 Novaland backs out of Sacombank restructuring project 7 Stocks set to rise on first quarter hopes 42 Investor group to strengthen Sacombank 8 Oil price increases help pull VN Index up 43 The highly speculated return of Sacombank's 'father' 9 HSX up while HNX down 43 Eximbank plans to sell entire stake in Sacombank 10 Shares remain negative after holiday 44 Q2 GDP growth forecast: 5.6pct 10 HSC seeks to scrap cap on foreign ownership 44 HCM City: Private sector to contribute 65pct to GRDP 11 Vietnam's PV Gas bags $65 million in Q1 net profit on Vietnam should not aim to become industrial power: rising revenue 45 economist 12 TPG Asia sets to become the majority shareholder of VAS 46 FDI inflows not improving quality of VN's growth 13 VN products look to Argentinean market 47 When more is less: VN growth deficient in quality 13 PM okays $2.4b for major highway 47 Vietnam to halve corporate coverage of unemployment VET holds Industry 4.0 forum 48 insurance to boost competitiveness 14 Scantech rides the Industry 4.0 wave 49 Mekong Delta has good economic governance 15 Viettel holds upper hand in final phase of 4G race 49 Vietnam develops logistics services for exports 16 Prime minister orders crackdown on 'zero dollar' Chinese tours 50 Leather and footwear exports could reach $26 billion by 2020 16 HCM City supports startup businesses 51 Hanoi expects to have 40,000 new enterprises in 2017 17 HCM City stabilises market, ensures social welfare 51 HCM City set on goal of 500,000 businesses by 2020 18 Japanese investors to revitalise polluted canal in HCM City 52 Vietnam's transport ministry rejects airfare floor price proposal 18 Local firm to develop river bus routes in HCM City 52 Transforming auto assembly to component manufacturing 18 Hanoi wants Microsoft's help to become technology incubator 53 VNREA pushes for low-cost housing policy 19 Rent-a-Port NV further expand its business in Vietnam Vietnam's aging population expected to work longer in future 20 with green energy focus 53 Vietnam among top five foreign investors in Cambodia 21 Vietnam attends international Halal showcase in Malaysia 54 Vietnam ranked among top 10 countries in women business Businesses keen on clean energy plants in Dak Lak Province 54 ownership - report 21 Vinamilk sets revenue target of $2.25bn for 2017 55 HCM City Secretary promotes trade, investment in Japan 22 Vinamilk publishes growth targets 55 Thai Binh attracts many investment projects in agriculture 23 Vissan's 2016 revenue at $162mn 55 Savills: M&As to continue in 2017 23 Lottery firms in southern Vietnam found with massive non-core M&A activities of both domestic and foreign investors investment 56 exciting in Q1/2017 24 Formosa's $10.5 billion Ha Tinh steel complex meets Vietnamese workers warned of 'robot threat' 26 requirement to start blast furnace 57 Vietnamese bakery, confectionery sector attracted to foreign Ascott partners with BIM Group to develop condotel 57 partners 27 Samsung to assist Vietnamese businesses in producing Vietnam determined to lower prices on brand name drugs 28 sophisticated electronic parts 58 Indonesia turns it back on Vietnamese rice as crops at TH True Milk to invest in Dak Lak 59 home Abbott rated among top 10 best places to work in Vietnam 60 flourish 29 Vietnamese startup scores series C funding 60 Tech startups are finding fertile ground in Vietnamese game market enriches foreign gaming firms 61 Vietnam's 'Silicon Valley' 30 Tra fish shipments to Spain decline steeply 62 Govt guidelines for Russia-Vietnam auto joint ventures 31 Robins to run midnight sales on April 8 62 Vietnam applies SRP rice production standards to increase Affluent Vietnamese buy American lobsters, foreign fruits 63 competitiveness 32 Tour packages snapped up at international travel mart 64 HCM City metro projects short on capital 32 Jetstar upbeat about direct services to HCM City 64 Soaring tra fish prices entice Mekong farmers 34 Gamuda Land to launch The ZEN Residence this month 65 Industrial salt import limited to 102,000 tonnes 35 Is this a good time to enter Vietnam's booming market? 35 Thai firms gather power on Vietnamese real estate market 36 Intellasia Tel: +844 2213 2244 No. 21, lane 173/63/17, Ngoc Ha Ward, Ba Dinh Dist, Hanoi Fax: +844 3759 2034 © All Rights Reserved Email: [email protected] Websites: www.Intellasia.Net www.TriTueAChau.com Vietnam finance & business 10 April 2017 FINANCE Reference exchange 10/APR/2017 INTELLASIA | VNA rate up 5 VND The daily reference exchange rate for VND/USD was set at 22,316 VND per USD on April 10, up 5 VND from the last working day of last week (April 7). With the current trading band of/-3 percent, the ceiling rate applied to commercial banks on the day is 22,985 VND and the floor rate 21,647 VND per USD. The opening hour rates listed at commercial banks was almost unchanged from April 7. BIDV maintained its rates at 22,625 VND (buying) and 22,695 VND (selling) per USD, the same as on April 7. The rates at Vietcombank also stayed unchanged at 22,640 VND (buying) and 22,710 VND (selling). Meanwhile, Vietinbank kept its selling rate at 22,700 VND but raised its buying rate by 15 VND to 22,630 VND. http://en.vietnamplus.vn/reference-exchange-rate-up-5-vnd/109967.vnp FINANCE What's happening in 10/Apr/2017 Intellasia | Vietnamnet the retail banking Many Vietnamese banks have reported high growth rates in retail banking in recent market? years. VietinBank has reported high growth rates in the retail banking with the outstanding loans increasing by 2.5 times in 2015 compared with 2014 and by 35 percent in 2016 compared with 2015. The capital mobilised by the bank by the end of 2016 increased by 21.2 percent com- pared with 2015, while retail turnover increased by 30 percent. After the restructuring, Asia Commercial Bank (ACB) has regained its strength in the retail banking market. In 2016, its pre-tax profit increased by 27 percent compared with the year before to VND1.667 trillion. According to the Saigon Securities Incorporated (SSI), ACB's lending to individual cli- ents in 2016 increased by 30 percent thanks to a large network and experienced work- force. Analysts noted that the bank's proportion in lending to individuals increased signifi- cantly (accounting for 53 percent of outstanding loans by the end of 2016, higher than the 49 percent by the end of 2015), while the loan-to-deposit ratio has improved (77 percent in 2016 vs 76 percent in 2015). They also commented that the increased investment in technology helps Vietnamese banks well exploit the retail banking market. With large networks and modern tech- nology, banks can provide diversified retail banking products which increase the rev- enue. What are foreign banks doing? In late 2014, HSBC Vietnam told the local press that it found retail banking was a stable and less risky sector which can bring high revenue. By 2015, the bank had for five con- secutive years led the market in terms of card payment revenue, according to Visa. However, the Number 1 position unexpectedly went to Vietcombank in 2016, while HSBC Vietnam fell into the third position. The commercial banks which hold the biggest market share reported by VisaNet in- clude many Vietnamese names - Vietcombank, Vietinbank, Military Bank, ACB and Techcombank. Meanwhile, two foreign names are Citibank and HSBC. ANZ was recognised as the best retail bank in Vietnam in 2013. Some sources said ANZ is negotiating with partners on the transfer of its retail banking division. Three foreign banks and two Vietnamese banks have shown their interest in ANZ's retail banking division. The decision by ANZ could be a part of its plan to adjust business strategy. However, analysts commented that the Vietnamese retail banking market, where only 20 percent of the population has approached consumer finance services, is not as attractive as it may appear. Intellasia 10 April 2017 2 / 66 Vietnam finance & business 10 April 2017 Vietnam banks' assets, 10/APR/2017 INTELLASIA | REUTERS registered capital April 7 The following table updates the assets and registered capital of banks in Vietnam, based on their latest published reports. NOTE: * Updated; unit: billions of dong FULLY STATE-OWNED BANKS MM/YR ASSETS REG CAP Agribank 12-16 *1,000,000.00 *29,126 #Vietnam Development Bank 12-14 324,526.87 14,159 #Vietnam Bank for Social Policies 12-16 *162,400.00 10,696 Dai Duong Bank 06-14 68,783.30 4,000 Global Petro Bank (GP Bank) 09-11 32,000.00 3,018 Construction Bank 12-11 27,171.30 3,000 Cooperative Bank of Vietnam 12-16 *27,068.00 3,394 State Bank of Vietnam (SBV) 10,000 NOTES: FINANCE # are policy lenders * Assets value for Agribank is an estimated figure provided in an Agribank statement PARTLY PRIVATE BANKS: 31 MM/YR ASSETS REG CAP BIDV 12-16 *1,006,404.15 34,187 VietinBank 12-16 *948,699.02 37,234 Vietcombank 12-16 *787,906.89 35,978 Sai Gon Commercial Bank (SCB) 12-16 *361,682.37 14,295 Saigon Thuong Tin Bank 12-16 *333,294.84
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