Vietnamese shares fell slightly on Wednesday morning with low trading liquidity as investors were cautious with the conditions. Investors take part in an auction at the Hanoi Stock Exchange. The benchmark VN Index on the Ho Chi Minh Stock Exchange was down 0.03 per cent to end at 909.43 points. The southern market index gained 0.87 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange dropped 0.16 per cent to close at 102.42 points, retreating from the previous 1 per cent growth. More than 81.3 million shares were traded on the two exchanges, worth nearly VND2 trillion (US$85.5 million). Foreign investors were cautious with the current market trading conditions after British prime minister Theresa May lost against lawmakers regarding her Brexit divorce deal. The latest defeat could “lead to a disorderly exit from the EU or even to a reversal of the 2016 decision to leave,” Reuters reported. Foreign investors were waiting for the impacts of the latest … [Read more...] about Vietnam stocks slide on cautious sentiment
The Vietnam Actuarial Conference 2018 hosted by Prudential with the attendance of over 200 actuaries and insurance professionals discussing Big Data More insurance businesses are now planning to apply new technologies in their management systems and improve customer services, while many also plan to develop new products to meet market demand as well as diversify insurance sales channels, according to a survey released by Vietnam Report in June last year. In particular, 82.4 per cent of insurance companies said they were building a Mobile Internet development strategy and 64.7 per cent have adopted strategies based on two key factors in Industry 4.0: the Internet of Things (IoT) and Big Data. Disruptive technology Big Data provides new insights from social networks, telematics sensors, and other new information channels. As a result, it allows understanding customer preferences better, enabling new business approaches, product development, and enhancing existing internal models, … [Read more...] about How can Big Data drive the future of insurance?
Vietnam International Bank has relocated its branch in the southern province of Dong Nai to a new location on Vo Thi Sau street in Bien Hoa city’s Thong Nhat ward as part of its increasing effort to bring more convenience and a safe experience to customers. The VIB Dong Nai branch After more than 13 years operating in the province, the bank (VIB) has become one of the leading banks in the area with one branch and four transaction offices. To date, VIB Dong Nai has served more than 100,000 individual customers and hundreds of medium and large enterprises, helping meet the financial needs of local people and supplementing business capital for households and companies. At the end of 2018, lending and deposits at VIB’s branch and transaction offices in Dong Nai reached more than $95.6 million and $182.6 million, respectively. At the end of 2018, lending and deposits at VIB’s branch and transaction offices in Dong Nai reached more than VND2.2 … [Read more...] about VIB branch moves to a new more convenient location in Dong Nai province
As retail profits tighten and Basel II is set to be implemented during 2019, a challenging year is expected for banks Following a successful year with good credit growth, financial institutions in Vietnam are laying out strategies for 2019. One top concern for lenders is raising capital to meet the capital adequacy ratio (CAR) imposed by Basel II and the State Bank of Vietnam (SBV). Analysts at Bao Viet Securities pointed out that listed banks need to collect at least $10 billion to ensure they satisfy CAR requirements by 2020 – a mission that lenders say they are struggling to complete. There are a number of front-runners. For example, by late 2018, Vietcombank and Vietnam International Bank were recognised by the SBV as Basel II-compliant. Some other banks, such as Oriental Commercial Bank and TPBank, have also finished their adoption of Basel II and are waiting for official recognition in 2019. However, the thirst for capital is still prevalent in the financial … [Read more...] about Banks brace for tough year as Basel II looms
Vietnamese shares finished Wednesday morning on a positive note as market sentiment was lifted by the uptrend of global stocks. Screens show stock prices at Tan Viet Securities Corporation. Vietnamese shares advanced well on Wednesday morning thanks to positive signals of US-China trade talks. The benchmark VN-Index on the Ho Chi Minh Stock Exchange increased by 1.05 per cent to end at 896.79 points. The southern market index fell 0.25 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange gained 0.77 per cent to close at 102.05 points. The northern market index lost 0.65 per cent in the previous session. Nearly 113 million shares were traded on the two local exchanges, worth VND1.92 trillion (US$82.8 million). Global markets moved positively on Tuesday and early Wednesday following good signals of US-China trade talks, starting on Monday, to ease global worries about trade issues and an economic slowdown. Positive signals of the trade talks also boosted oil prices … [Read more...] about Good global trading lifts Vietnam stocks