While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
The Vietnamese dong has strengthened against the U.S. dollar after hitting a peak in late July, with the exchange rate now at its lowest level in several months.
Non-financial companies are poised for continued profit growth in the second half of 2024, buoyed by a favorable monetary policy environment.
Vietcombank has announced the highest pre-tax profit in the banking sector for the second quarter and the first half of 2024, even as core revenue streams show a downturn.
Vietnam's real estate sector is grappling with significant challenges as it struggles to raise funds through bonds and faces looming maturity pressures in the latter half of 2024.
Real estate sector bonds account for a major trunk of corporate bonds due for redemption this year.
According to Dragon Capital, the issuance of bonds this time is considered a necessary measure to moderate exchange rate fluctuations, rather than indicating a shift in monetary policy.
Starting off as Nhat Nguyen Transport Trading Service Co., Ltd. in 1993, Hoa Lam has now emerged as a multi-business entity operating in banking, real estate and healthcare services.
Spending over VND9 trillion ($391.3 million) in the first half of the year on the construction of its Dung Quat Iron and Steel integrated complex through borrowings, Hoa Phat Group is paying an enormous amount of interest on its debts each day.
Vinhomes has completed its acquisition of Delta JSC, a subsidiary of cosmetics and cleaning agents producer Daso Group, and Green City Development JSC, in July, to further reinforce its foothold in the real estate business.
Foreign shareholders at Asia-Pacific Investment JSC have turned down the company’s plan to issue over 20 million shares to existing shareholders, in a bid to power two of its property investments.
Land transferring activities in the past years are said to make extra cash for the developer to pay dividends to its shareholders.
Construction of the mixed-use development has been stalled for years.
Vietnam's largest securities company has secured a $55-million loan from six foreign banks.
