MB among strongest banks in Asia-Pacific

20:18 | 20/02/2019 Finance Follow english.haiquanonline.com.vn on

The Military Commercial Joint Stock Bank (MB) ranked third among 14 Vietnamese banks in the list of 500 strongest banks (AB500) in Asia-Pacific recently released by The Asian Banker.

mb among strongest banks in asia pacific

Illustrative image (Source: cafef.vn)

AB500 is an annual study of the financial and business performance of the commercial banking industry in Asia-Pacific. The study comprises two different lists: the first ranks the top 500 banks in the region by asset size, while the second ranks the same banks by strength, or long-term profitability from its core businesses.

In the 2018 ranking, MB jumped one place domestically and 32 places in Asia-Pacific compared with 2017.

Along with strategic programmes for customers, targeting major businesses, small-and medium-sized enterprises (SMEs) and inpiduals, MB hit its business targets for 2018, with profits up 56 percent to 7.7 trillion VND (331.1 million USD) and turnover hitting 1 billion USD.

Apart from MB, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) were also listed in the AB500 ranking.

Source: VNA

Tags:

Related News

SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

20:30 | 01/04/2023 Finance

The State Bank of Vietnam (SBV) has suggested the Government to issue a revised decree on foreign investors buying shares from Vietnamese credit institutions.

Enterprises’ worry is being in the debt group for banks

13:39 | 31/03/2023 Import-Export

VCN - Many domestic enterprises are facing the situation of not being able to repay bank loans despite being supported with restructuring. This leads to the risk of switching to a group of bad debts, making it even more difficult to access new capital.

Being many "hot" issues at the general meeting of shareholders of banks

09:24 | 30/03/2023 Finance

VCN - International Commercial Joint Stock Bank (VIB) will be the first bank to hold a general meeting of shareholders this week, and then April will be the "peak" for banks to deploy.

Lifting the challenge of capital for businesses

14:52 | 19/03/2023 Import-Export

VCN - The State Bank (SBV) has granted the first credit growth limit (room) in 2023 to a number of banks, ranging from 9-13.5%, which enables businesses to access production and business activities more efficiently.

Latest News

Corporate bonds worth 1.1 billion USD issued in March

13:55 | 06/04/2023 Finance

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.

Tax revenue is estimated at VND 426,922 billion in the first quarter

09:56 | 06/04/2023 Finance

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion, equaling 30.9% of the estimate, up 5.3% over the same period in 2022.

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

14:47 | 04/04/2023 Finance

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.

Central bank starts huge credit package for social housing projects

14:42 | 04/04/2023 Finance

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

More News

In Q1, State revenue estimated to rise by 1.3%

13:28 | 04/04/2023 Finance

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.

Consider raising the level of penalties to ensure fairness and transparency in the stock market

13:27 | 04/04/2023 Finance

VCN - Mr Pham Hong Son, Vice Chairman of the State Securities Commission, discussed solutions to improve the capacity, improve fairness and transparency of the stock market.

Central bank cuts policy interest rates to spur growth

17:43 | 02/04/2023 Finance

The State Bank of Vietnam (SBV) announced it would reduce several policy interest rates from April 3, the second cut within one month, the regulator announced on its website March 31 night.

Ensure policies to attract investment when implementing global minimum tax

10:33 | 02/04/2023 Finance

VCN - On the afternoon of March 30, in Hanoi, the Ministry of Finance held a regular press conference in the first quarter of 2023, chaired by Deputy Minister of Finance Nguyen Duc Chi. Many issues related to the tax field were discussed and answered at the conference.

Solutions to attract FDI when implementing the global minimum CIT

11:38 | 01/04/2023 Finance

VCN - On March 29, the Vietnam International Arbitration Center (VIAC) and the Center for International Integration, the Ho Chi Minh City Institute for Development Studies, jointly held a seminar on Global Minimum Corporate Tax – outlook and challenges in attracting foreign investment (FDI) in Ho Chi Minh City.

Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

13:43 | 31/03/2023 Finance

VCN – The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.

Bringing the policies on reducing land rent and water surface rent into life

15:41 | 29/03/2023 Finance

VCN - The tax sector is drastically implementing dissemination and support to make the policy of reducing land rent and water surface rent in 2022 fully effective.

The more delayed the investment disbursement is, the more accumulated the capital expenditure will be

10:22 | 29/03/2023 Finance

VCN - According to Dr Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM), amid the downtrend of many of Vietnam's economic growth drivers, public investment is still expected to be the main driver for economic growth recovery in 2023.

Ministry of Finance summarizes the 10-year implementation of the Resolution of the 8th meeting of the 11th Central Committee

10:20 | 29/03/2023 Finance

VCN – On March 27, Mr. Tran Tuan Anh, Member of the Political Bureau, Chairman of the Central Committee's Economic Commission, and member of the Steering Committee for developing summary project, attended and directed the summary conference of the 10-year implementation of the Resolution of 8th meeting of the 11th Central Committee on the Strategy to Project the Fatherland in the New Situation of Ministry of Finance. The conference was attended by Mr Ho Duc Phoc, a member of the Central Committee, Secretary of Designated Representation, Minister of Finance and other members of Party Designated Representation of Ministry of Finance, comrades of the Central Committee of Ministry of Finance.

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read