Banking & Finance

The share held by stock companies in the brokerage market is no indicator of profit, with some of those possessing a large market share posting small profits and vice-versa. Profit margins are also quite different.

The National Assembly’s Finance and Budget Committee agreed on October 20 with a proposal from the government that spare budget funds reserved for wage reforms be used for anti-pandemic activities, as wage reforms will not be conducted from July 1, 2022 due to the pandemic.

With money being continually added, the average trading interest rate in VND in the interbank market remains low while the transaction value of government bonds on the secondary market rose 42 per cent compared to last week. The State Treasury is expected to issue government bonds during the fourth quarter, but anticipated buying demand is not large, so the winning yield is expected to remain flat.

According to a report from the Vietcombank Securities Limited Company (VCBS), the VN-Index is forecast to continue to set new highs in the closing months of 2021, aiming for the threshold of 1,500 points. Trade will also be active in the group of highly speculative small-cap stocks, which are forecast to continue to attract cash flow.

The Hanoi Tax Department’s contribution to State budget revenue totaled VND159.957 trillion ($7.03 billion) in the first nine months of 2021, a 3.8 per cent increase year-on-year. Tax collections have been down in the city over recent months due to Covid-19.

The professional reserve fund of Deposit Insurance of Vietnam currently stands at VND73.6 trillion ($3.23 billion). It contributes to the safety of the country’s banking and finance sector and is an important financial resource helping the agency better perform its functions and tasks.