anz buys into sacombank

ANZ buys into Sacombank

ANZ Banking Group Ltd has officially acquired a 10 per cent stake in Vietnam’s largest joint stock commercial bank, Saigon Thuong Tin Bank (Sacombank).

FIEs to hit bourse

Foreign invested enterprises (FIEs) can now float their shares on the bourse, but they will not be permitted to release 100 per cent of shares on the market, according to a new guiding circular released by the State Securities Commission (SSC) last week.

Yuan revaluation to have minor impact

The revaluation of the Chinese yuan, or renminbi (RMB), will have insignificant effects on Vietnam’s economy, officials from the State Bank of Vietnam (SBV) have reported.

SBV banks on big spending firm up economy

Fearing demand for funds will fuel an interest rate bubble, the State Bank of Vietnam (SBV) has said it will continue injecting more funds into the economy through the open market.
interest rise sparks fear of rate war follow new pressures

Interest rise sparks fear of rate war follow new pressures

A new move by the Saigon Thuong Tin Commercial Bank (Sacombank) to hike interest rates for savings in Vietnamese dong could spark a new interest rate war among local commercial banks, which have been under pressure to raise their rates amid fund shortages and rising prices.
asiana plaza to go fully foreign owned

Asiana Plaza to go fully foreign owned

South Korea’s Kumho Construction & Engineering Inc. will go it alone in the long-stalled Asiana Plaza office building complex project in Ho Chi Minh City, pending approval of a proposal by local partner Saigontourist.
london pledges local support

London pledges local support

London will do all it can to back Vietnam’s bid to develop its financial market and entice more European businesses to the country, said the lord mayor of the city, Alderman Michael Savory.

UK bank SCB wins out in bidding for ACB stake

The UK’s Standard Chartered Bank (SCB) has outbid its foreign rivals to acquire an 8.56 per cent stake in Vietnam’s second-largest joint-stock commercial bank, Asia Commercial Bank (ACB).
prudential buys into kinh do

Prudential buys into Kinh Do

British life insurer Prudential Vietnam has inked a deal to buy a 6 per cent stake in the Kinh Do Corporation, Vietnam’s leading confectionery maker.
mof to beef up bourse

MoF to beef-up bourse

In an attempt to feed the hungry Vietnamese stock market, the Ministry of Finance (MoF) last week submitted a list of around 300 equitised enterprises for government approval to put them on the local bourse.
kinh do mulls sweeter listing deal

Kinh Do mulls sweeter listing deal

Vietnam’s largest confectionery maker is considering a plan that would allow foreign investors to buy shares as the company sets out to boost capital.
anz bank buys into sacombank

ANZ bank buys into Sacombank

ANZ Banking Group beat rival bidders to acquire a 10 per cent stake of Vietnam’s largest joint stock commercial bank, Saigon Thuong Tin Bank (Sacombank).
foreign funds start to make capital gains

Foreign funds start to make capital gains

Many foreign investment funds have promised to pump hundreds of millions of dollars into Vietnamese businesses, offering fresh hope for domestic companies in dire need of new capital sources. As Nguyen Hong discovers, the funds offer more than just money.
fund takes a slice out of kinh do

Fund takes a slice out of Kinh Do

The Vietnam Opportunity Fund (VOF) now owns a 10 per cent stake in Vietnam’s leading confectionery maker Kinh Do, a source from VOF’s management arm VinaCapital said last week.
european banks hail deposit move

European banks hail deposit move

European Union banks operating in Vietnam are now permitted to accept Vietnamese dong deposits at the same level as their American counterparts, according to a new decision issued by the State Bank of Vietnam last week.