Banking & Finance

The Vietnam Stock Exchange (VNE) has registered to become a member of the World Federation of Exchanges (WFE). It also became a member of three other international organizations this year: the Asian and Oceanian Stock Exchanges Federation (AOSEF), the ASEAN+3 Bond Market Forum (ABMF), and Association of ASEAN Stock Exchanges (ASEAN Exchanges).

Figures from SSI show that October was a successful month for exchange-traded funds (ETFs), which posted total net inflows of more than VND3.1 trillion ($125.2 million); the second-highest since the beginning of 2022 and just under the May figure. ETFs have attracted an additional VND13.2 trillion ($532.9 million) since the beginning of the year.

Sacombank signed a cooperative agreement with Temenos and HiPT on November 8 on implementing an omnichannel banking platform. The signing is an important step towards the bank providing an outstanding customer experience, strengthening its digital capabilities, and promoting its comprehensive digitalization.

Rong Viet Securities has said that although the valuation of the VN-Index has reached an attractive level compared to previously, liquidity being constricted and corporate bond risks are issues that need to be resolved for the stock market to gain recovery momentum.

According to the Ministry of Finance (MoF), domestic and foreign loans by the government totaled more than VND160 trillion ($6.4 billion) in the first ten months of 2022, or 23.8 per cent of the annual plan, of which foreign loans were $184.6 million. The government has also repaid more than VND241 trillion ($9.6 billion), or 71.8 per cent of the plan, of which foreign debt repayments totaled more than VND57 trillion ($2.3 billion), or 60.8 per cent of the plan.

AM Best has assessed that Vietnam’s non-life insurance market has prospects for growth in 2023 from three factors: global economic fluctuations leading to increased demand for insurance; the Law on Insurance Business taking effect from January 1; and insurance gaining in appeal after interest rate hikes by the State Bank of Vietnam (SBV).