GLOBAL BANKING LEADERS TARGETING GROWTH IN SE ASIA
According to Bloomberg, HSBC is seeking to gain a bigger slice in Southeast Asia where it has been struggling to compete with dominant players such as DBS Group Holdings and Standard Chartered. “HSBC wants to further raise its capability and presence in South Asia, and Singapore is central to this drive and ambition,” said Peter Wong, HSBC’s top executive in Asia.
DEADLINE FOR CORPORATE TAX PAYMENT MAY BE FURTHER EXTENDED
The Ministry of Finance has suggested extension of the deadline for tax payment and land rent to assist businesses affected by the COVID-19 pandemic.
BANKS STEP UP TO LURE DEMAND DEPOSITS
Before 2018, Vietcombank and MBBank were the two banks with the largest proportion of CASA in the banking system. While Vietcombank had an advantage in luring demand deposits through transactions of State-owned agencies and enterprises, MBBank benefited from defence agencies and enterprises.
CORPORATE BOND MARKET FORECAST TO BE ROBUST THIS YEAR
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.
CENTRAL BANK CONTINUES GROWTH DRIVE AMID GLOBAL UNCERTAINTIES
The State Bank of Vietnam is predicted to continue maintaining a loose monetary policy with low interest rates, even as the global economy is showing positive signs.
STOCK MARKET 2021: POSITIVES AND RISKS
The stock market ended 2020 with diverse notes, from the selloff in Q1 which sent the VN-Index down to 660 points, the lowest in four years, to the recovery and strong rally, especially in Q4 despite the strong impact of Covid-19 on the global economy. What is the driver for the market confidence in 2021?
CENTRAL BANK TARGETS CREDIT GROWTH OF 12 PERCENT IN 2021
The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.
INSURANCE INDUSTRY: VAST ROOM FOR GROWTH
Total insurance premiums were estimated at VND184,662 billion in 2020, representing a year-on-year growth of 15%, according to the Ministry of Finance. Non-life insurance premiums were projected at VND57,102 billion, up 8% over 2019, while life insurance premiums were forecast at VND127,560 billion, up 19.6%.
