Banking & Finance

A high proportion of the population has not been able to get loans, especially people in remote and rural areas.

The tax department said the overall revenue witnessed significant improvement compared to last year, mainly thanks to a hike in global crude oil prices at US$74 per barrel.

The credit growth in the economy in 2018 is at five-year low, but it still helped the economy grow at a decade-high of 7.08%, VnExpress reported.

SSI remained the largest broker in the HoSE for the whole year, reaching a market share of 18.7%, followed by HSC and VCSC with 11.24% and 10.95%, respectively.

Besides seeking funds in the domestic market, some banks such as HDBank and VIB also planned to issue international bonds.

The stock market continued to be an efficient capital mobilization channel for Vietnam’s economic development.

The merger is part of a series of measures to develop Vietnam’s stock market.

If Vietnam is included in the emerging market index of FTSE and MSCI in March 2020, the VN-Index may begin to surge in the fourth quarter of 2019.

The monetary policy is expected to remain cautious but flexible, which should be in harmonization with the fiscal and other macro policies.

During the first half of this year, Lotte Finance Vietnam will focus on rolling out customized loan products for Lotte affiliate employees and other Korean workers.

The dong has been quite resilient against the volatile Chinese renminbi, especially in comparison with regional currencies.

In 2019, Hanoi is tasked to collect VND245.73 trillion (US$10.5 billion), an increase of 8% from 2018.

The corporate bond market in particular and the bond market in Vietnam in general are quite attractive compared to the Vietnam stock market.

State budget revenues as of December 15 reached VND1,272.5 trillion (US$54.77 billion), equivalent to 96.5% of the year`s estimate.

investors from Japan, Korea and China are interested in trouble assets in Vietnam.

The Vietnamese banking system could face a capital shortfall of almost US$20 billion, equal to 9% of the country’s GDP to meet the requirement on capital adequacy following Basell II standards, which is scheduled for implementation on January 1, 2020.

The SBV stressed that abuse by individuals or organizations of the P2P lending platform for capital mobilization is illegal.

In a context of tightening credit growth by the State Bank of Vietnam (SBV), the ability to expand service income becomes even more important for most banks.

Lotte Card, through its financial affiliate Lotte Finance Vietnam, has become the first Korean credit card company to make inroads into Vietnam’s consumer finance market by earning licenses to operate credit card and other related businesses.

Comparing to the credit growth in 2016 and 2017 at 18.71% and 18.17%, respectively, the growth rate in 2018 should be much lower, while the structure of credit has now been shifted to manufacturing and processing.