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

Continue to handle cross-ownership in banks

10:35 | 02/11/2024 Finance

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.

More efficient thanks to centralized payments between the State Treasury and banks

13:51 | 17/10/2024 Finance

VCN - The State Treasury (KBNN) is continuing to maintain the stable operation of payment systems within the KBNN system and payments with banking systems to ensure smooth, timely and safe operations.

Allocating credit room, motivation for banks to compete

19:14 | 14/09/2024 Finance

VCN - The State Bank of Vietnam (SBV) has announced that it will allocate the credit growth limit (room) for banks that have achieved 80% of their target. This is an incentive for banks to increase their competitiveness.

Banks minimize costs, optimize profits

19:05 | 02/09/2024 Finance

VCN - In the first months of the year, banks' ability to optimize costs has improved significantly, especially when many banks have actively transformed digitally and cut costs in the context of a difficult economy.

Latest News

Ensuring financial capacity of bonds issuers

11:09 | 26/12/2024 Finance

VCN - The Ministry of Finance is finalizing the draft Decree amending and supplementing Decree No. 155/2020/ND-CP detailing the implementation of a number of articles of the Securities Law. The amendment aims to continue to perfect the legal framework and overcome some shortcomings arising in the practice of the securities market.

Finance ministry announces five credit rating enterprises

14:54 | 25/12/2024 Finance

One more company has been granted the certificate of eligibility since August.

The capital market will see positive change

09:44 | 25/12/2024 Finance

VCN – Vietnam’s capital market has more balanced, harmonious and sustainable. However, besides the achievements, the market still faces many potential challenges. In order for the capital market to become an effective and sustainable capital mobilization channel, further improving the quality of goods and diversifying investors in the market is a key direction.

Corporate bond issuance value rises by 60 per cent

13:51 | 24/12/2024 Finance

In the first 11 months of 2024, the total value of corporate bond issuances reached nearly VNĐ403 trillion, a 60 per cent increase year-on-year.

More News

Slower mobilization than credit may put pressure on interest rates

09:02 | 24/12/2024 Finance

VCN - According to the latest data from the State Bank of Vietnam (SBV), deposits in the banking system as of the end of September 2024 reached more than 14 million billion VND, an increase of 4.9% compared to the beginning of the year, but the rate was still slower than credit, which could put pressure on interest rates.

Fed’s foreseen rate cuts affect foreign exchange rate

14:12 | 23/12/2024 Finance

After the Fed’s move, the US dollar index (DXY) on December 19 hit nearly 108, the highest level in the past year.

Untying the knot for green finance

11:08 | 23/12/2024 Finance

VCN - Green finance is a crucial resource for greening businesses. Completing the policy framework for green finance is urgently needed to unlock this capital flow.

Ensuring efficiency and transparency in use and management of houses and land at State enterprises

13:54 | 22/12/2024 Finance

VCN - According to the Ministry of Finance, the issuance of Directive on strengthening management, improving the efficiency of use and handling of houses and land at State-owned enterprises to ensure the effective management, use and handling of houses and land for the right purposes, and to avoid loss and waste.

Vietnam's stock market to develop strongly and sustainably

19:08 | 21/12/2024 Finance

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.

Tax sector achieves revenue target of about VND1.7 million billion

18:32 | 21/12/2024 Finance

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.

General inventory of public assets raises efficiency of use and management of country's resources

09:29 | 20/12/2024 Finance

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by a representative of the Department of Public Asset Management (Ministry of Finance) at the press conference on the implementation of the General Inventory Project of public assets organized by the Ministry of Finance on the afternoon of December 18.

Publicizes progress of public investment disbursement for important national projects

15:21 | 19/12/2024 Finance

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.

Six SOEs to be transferred back to industry ministry

15:38 | 18/12/2024 Finance

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).

Your care

Latest Most read