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Bright prospects for bank stocks


Bright prospects for bank stocks
11:35 | 14/04/2021
Bank tickers are anticipated to remain in the spotlight in 2021, with investors racing to capitalise on bright profit prospects. Choosing the right tickers, however, is a continuing headache for investors.    
In its forecast for 2021, Hanoi-based VNDIRECT Securities Corporation said banks would be among the first corporate entities to take advantage of the economic rebound. The company also anticipates a sharp jump in banks’ profit this year in the wake of improved net income margin (NIM) and higher credit growth.
Banks’ profit is forecast to be on a sharp rise in 2021
Agreeing with the forecast, the BIDV Securities Company (BSC) recently issued a report on the prospects of the banking sector, saying that commercial lenders would witness a sharp rise in profit thanks to the economic rebound and good control of asset quality post-pandemic. ....

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Stock market frenzy signals financial capacity intentions


Stock market frenzy signals financial capacity intentions
10:55 | 10/03/2021
Stock market frenzy signals financial capacity intentions. Photo: freepik.com
SeABank – the banking arm of BRG Group’s ecosystem – has just confirmed its forthcoming first trading date on the Ho Chi Minh City Stock Exchange (HSX).
More than 1.2 billion shares of SeABank (ticker: SSB) were listed in December and will be officially traded from March 24, with a reference price on the first trading day of VND16,800 (7.3 US cents) per share.
Last week, BAC A BANK also listed 708.5 million shares on the Hanoi Stock Exchange (HNX). Having been conducting transactions on the Unlisted Public Company Market (UPCoM) since 2017, its stocks have officially ceased on the system and shifted to the HNX. ....

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Central bank continues growth drive amid global uncertainties


Central bank continues growth drive amid global uncertainties
11:00 | 13/01/2021
Rates were cut last year to aid struggling businesses, photo Le Toan
HSBC economist Yun Liu stated that given Vietnam’s limited fiscal space, the monetary policy has done most of the heavy lifting to drive growth.
“As Vietnam’s economy is set for robust recovery in the coming quarters, we expect the central bank to keep its monetary policy on hold until June 2022, before possibly delivering a 25-basis-point hike, bringing its refinancing rate to 4.25 per cent by the year-end,” she forecast.
In 2020, the State Bank of Vietnam (SBV) cut rates thrice to help vulnerable businesses weather the storm. The latest cut was in September when the SBV dropped its annual refinancing rate by another 50 basis points, bringing it down to 4 per cent. The magnitude of the cut signalled the central bank’s sense of urgency, given the government ....

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