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Substantial remittances to Vietnam in 2017 set new record in Global Top 10

Substantial remittances to Vietnam in 2017 set new record in Global Top 10

According to the World Bank, remittances to Vietnam in 2017 are estimated at a record high of US$13.81 billion, increasing by US$1.9 billion, equivalent to 16% over 2016.

VAMC assigned to deal with US$6.1-billion bad debts in 2018

The amount of bad debt that the Vietnam Asset Management Company (VAMC) has to deal with this year accounts for nearly half of the total bad debts VAMC has bought from banks.

SSC imposes administrative sanctions on numerous companies

The State Securities Commission of Vietnam (SSC) has issued decisions to sanction a number of companies due to their violations in the securities sector.

SSC wants to tighten margin lending ratio

Due to the recent rapid growth of the stock market, the State Securities Commission of Vietnam (SSC) has taken steps to control the flow of loans into the stock market.

MoF is strong-willed to increase the excise tax on various kinds of items

Ministry of Finance (MoF) is still determined upon its proposal to raise excise taxes on some items such as soft drinks, tobacco despite many objections raised by the ministries.

Military Bank gained US$27 million from selling stake in Mcredit to Japanese bank

MB has just announced a completion of selling 49 per cent stake in its consumer finance arm Mcredit Finance Company to Japan’s Shinsei Bank.

State-owned companies divest from banks

The share prices of banks listed on bourse have risen sharply, having facilitated the divestment of state-owned companies.

MoF proposed to delay plan of value added tax increase up to 12 per cent

Due to strong opposition against the proposal on raising value added tax (VAT), the Ministry of Finance (MoF) has recently proposed to delay the VAT increase to 11 per cent until from January 01, 2019 and to 12 per cent until January 01, 2020.

OceanBank completed phase one of negotiation process with foreign partners

The information was given during the working session of Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, with Ocean Commercial Joint Stock Bank (OceanBank).

BNP Paribas divests entire stake from the Orient Commercial Bank

According to Orient Commercial Bank (OCB), BNP Paribas has sold all 74.7 million shares in OCB and is no longer a shareholder.

HDBank gained hefty profit of US$100 million before listing on bourse

According to HDBank’s listing prospectus, its total outstanding loans reached VND101,410 billion (roughly US$4.5 billion) and pre-tax profit was VND2,260 billion (roughly US$99.71 million) in the first 11 months of 2017.