STRONG RISE IN BANK PROFITABILITY IN FIRST QUARTER
This year, ACB's pre-tax profit target is VND10.6 trillion ($460.87 million). According to the bank, if the situation remains unchanged, the target could be achieved.
VIETNAM SUSTAINS GROWTH MOMENTUM IN BOND MARKET
An improving global economic outlook and progress in COVID-19 vaccinations have pushed up bond yields in emerging East Asia, including Vietnam, according to the latest issue of the Asian Development Bank’s (ADB) Asia Bond Monitor.
MOBILE TRANSACTIONS IN VIETNAM TO GROW BY THREE TIMES BY 2025
Mobile transactions in Vietnam are expected to increase by 300 per cent between 2021 and 2025, led by strong growth in mobile payments, as revealed in the second edition of the Fintech and Digital Banking 2025 (Asia-Pacific) IDC InfoBrief, commissioned by Backbase.
MODES OF NON-CASH PAYMENT IN VIETNAM
Non-cash payments have increased sharply, especially through mobile devices and the internet, according to the State Bank of Vietnam.
VIETNAM TO REDUCE MANY TAXES AND FEES IN 2021
Many taxes and fees will be further reduced in 2021 and the Ministry of Finance has proposed extending the deadline for paying VND115 trillion of taxes and land rents.
FUNDRAISING ON THE UP IN CONSUMER FINANCE
SSI Research has cited information from VPBank’s Board of Management that the due diligence process for FE Credit sale has been conducted. FE Credit, Vietnam’s largest consumer finance firm, is in negotiation with its potential partners, though the discussion progress is somewhat interrupted due to the pandemic.
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.
