The aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.
This is IFC’s first green loan to a bank in Vietnam.
Vietnam Prosperity JSB (VPBank) has successfully issued $300-million 3-year notes to Asian and European investors within the context of its $1-billion Euro medium term note (EMTN) programme.
Moody’s Investors Service has assigned a (P)B1 long-term foreign currency senior unsecured rating to Vietnam Prosperity JSB (VPBank)’s $1 billion medium term note (MTN) program.
The digital financial services launched by Be Group come as part of the company’s commitment to round up an ecosystem to support its core business of transport services.
While most credit institutions have made possible attempts to reduce their bad debt ratio to a safe level at below three per cent, VPBank and Sacombank remain cautious to be fairly high at 4.07 per cent and 3.74 per cent respectively.
Tan Long Group, a market leader in agricultural products trading, currently received a trade finance of up to $50 million from IFC and VPBank.
The State Bank of Vietnam recently approved two leading commercial banks, namely VPBank and MB to raise its charter capital, the move being considered as necessity to increase their competitiveness and satisfy with standards of Basel II to control risks of credit, market and operation.
The ambitious targets set by banks in 2018 forecast that the private banks will usurp the state owned commercial ones.
Techcombank announced that its pretax profit in 2017 reached over VND8.03 trillion (US$354.4 million), doubling that in 2016 and naming Techcombank in Vietnam’s top five profitable banks.
VPBank's profit in 2017 surpassed Agribank and was only lower than that of Vietcombank, Vietinbank and BIDV.
VPBank offered additional shares of which each is priced at VND39,000 (approximate US$1,72), about 4% higher than market price.
Starting from very different positions in 2010, but since 2014, five banks have followed one after another closely regarding their total assets in which the distance of their values is usually under VND50 trillion (roughly US$2.2 billion).
The stock price of VPBank lost chance to become most expensive banking stock (VPB) in the morning of the first trading day on Ho Chi Minh Stock Exchange (HSX) has not varied as expected, despite a series of good news before the listing.
