Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
Banks cautious about profit targets for 2023
Commercial banks will hold annual general meetings of shareholders (AGM) next quarter to map out production and business plans for 2023.
 |
| Some banks are cautious about profit targets set for this year. |
Documents prepared for the upcoming AGMs show some banks are cautious about profit targets set for this year.
Nam A Bank set a target of consolidated pre-tax profit of 2.4 trillion VND (101.160 million USD) this year, an increase of only 5-6% compared to last year. In 2022, the bank recorded a pre-tax profit of nearly 2.27 trillion VND, up 26.1% over the previous year, close to the bank’s set target of 2.25 trillion VND.
Vietnam International Bank (VIB) expects pre-tax profit in 2023 to reach 12.2 trillion VND, up 15.3% compared to 2022. Although 2023’s profit is expected to still increase by a double-digit figure, the growth rate decreases by half compared to last year's profit plan. Last year, VIB set a target to increase profit by 31% compared to 2021.
Earlier, Vietcombank’s leaders said the bank aims to increase its 2023 pre-tax profit by at least 12% compared to 2022. In 2022, Vietcombank recorded a 39% increase in pre-tax profit, up 19% against the yearly set target.
Eximbank late last year announced its business plan for 2023 with a pre-tax profit target of 5 trillion VND, up 35% compared to last year’s figure of 3.7 trillion VND.
An SBV Q1 2023 business performance survey also showed commercial banks were more cautious when forecasting.
According to the survey, only more than half of banks expect their business performance to improve in 2023, but the improvement is lower compared to 2022.
Experts also forecast the banking industry will continue to face difficulties in 2023 in the context of the real estate market downtrend and the less positive import and export outlook./.
Bài liên quan
Dành cho bạn
Đọc thêm
Lynas secures Vietnam metal processing deal with LS Eco Energy
Australian rare-earths miner Lynas has signed a framework agreement with LS Eco Energy to produce rare earth metals at a new facility in Vietnam.
Vietnam and EU seek to strengthen ties in transport infrastructure and urban development
Vietnam and the EU will enhance cooperation in transport infrastructure and sustainable urban development in the future, a meeting has heard.
Warburg Pincus eyes participation in Vietnam International Finance Centre
Global private equity firm Warburg Pincus is keen on participating in the Vietnam International Finance Centre, according to a conference held on March 23.
Novatek eyes expanded LNG cooperation in Vietnam
As Vietnam races to secure its energy future and meet the demands of its surging economy, a new partnership with a Russian energy giant is taking shape, signalling a deepening of the nations' long-standing ties.
EU to mobilise over $1 billion for major infrastructure projects in Vietnam
The European Union has launched a $46.4 million Sustainable Transport Development Fund to support large-scale infrastructure projects in Vietnam, with plans to mobilise additional financing from banks and private partners.
NIC partners with TU Berlin to boost Vietnam innovation ties
The National Innovation Centre has partnered with a leading technical university in Berlin to strengthen innovation and startup linkages between Vietnam and Germany.
ACB proposes $20 million non-life insurance subsidiary
Southern lender ACB has unveiled a formal proposal to establish a non-life insurance subsidiary as part of a strategic pivot to evolve into a comprehensive financial services provider by 2030.
