The heist was audacious, complex and surprisingly successful. In early 2016 an attempt was made to steal almost $1bn of Bangladesh central bank money held at the US Federal Reserve via a Philippine bank, a Philippine remittance company and Philippine casinos. The theft, in which $81m was taken from the account, has significant implications...
The largest and fastest-growing segment of the industry, the life insurance segment is set to continue its expansion as incomes grow and awareness rises. Life insurance premiums rose by 31% in 2016, reaching VND69.7trn ($3.1bn), according to the Insurance Supervisory Authority (ISA). The life segment is around twice the size of non-life, but...
Commercial banks have traditionally been the main suppliers of funding in Vietnam, since bank deposits remain the most popular form of investment for Vietnamese households. Even though credit growth has cooled as the government prioritises macroeconomic stability, the compound annual growth rate of 14.2% recorded in the 2011-16 period is...
With economic growth, solid corporate earnings and a rising need for financing among domestic companies boosting stock markets and stimulating private equity activity, Vietnam’s capital markets have grown steadily in recent years. A wave of equitisation of state-owned enterprises (SOEs) is boosting the sector further, while a growing range of...
The Unlisted Public Company Market (UPCoM) on the Hanoi Stock Exchange (HNX) is effectively a mezzanine exchange, set up to encourage unlisted firms to participate in the securities market, with a view that those on UPCoM may later transfer onto the main market. UPCoM brings a number of benefits to investors. Transactions, clearance and...
Robust economic growth, the easing of restrictions on foreign bank ownership and increasing technological sophistication have added to the dynamism of the Vietnamese banking sector in recent years, as the industry puts the mini-crisis of 2012 behind it.
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