Morning news 11-4: First bank to hold assets of over 100 billion USD

Tin tức sáng 4-11: Ngân hàng đầu tiên nắm khối tài sản trên 100 tỉ USD - Ảnh 1. — The National Assembly session on November 4 was broadcast live on television and radio for people to follow – Photo: quochoi.vn

The National Assembly spent the whole day discussing socio-economic issues.

According to the meeting agenda, this morning, November 4, the National Assembly spent the whole day discussing the assessment of the results of the implementation of the socio-economic development plan for 2024 and the expected socio-economic development plan for 2025.

Along with that, discuss the implementation of the Constitution, laws, resolutions of the National Assembly, ordinances, and resolutions of the National Assembly Standing Committee.

The National Assembly also discussed the policy of adjusting the National Land Use Plan for the 2021-2030 period, with a vision to 2050; and the policy of investing additional state capital at the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

The meeting was televised and broadcast live for voters and people to follow.

For the first time, Vietnam has a bank with assets exceeding 100 billion USD.

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has just announced its financial report for the third quarter of 2024. Accordingly, the total consolidated assets of this bank at the end of September this year reached more than 2.57 million billion VND, an increase of 12% compared to the beginning of the year. With this figure, for the first time in the Vietnamese banking system, a bank has been recorded with total assets exceeding 100 billion USD.

BIDV is also the bank with the largest total assets. In the total asset structure of this bank, BIDV's outstanding loans to customers by the end of September reached more than 1.95 million billion VND, an increase of nearly 10% compared to the beginning of the year.

In terms of mobilization, BIDV also had customer deposits of more than 1.87 million billion VND, an increase of 10% compared to the beginning of the year.

Insurance and oil giants "swept away" hundreds of billions, thousands of billions in profits

Tin tức sáng 4-11 - Ảnh 2. — Illustration: QUANG DINH

Latest data from FiinTrade, as of early November 2024, 1,060 listed enterprises representing 98.5% of total market capitalization have announced their business results for the third quarter of 2024.

Accordingly, total after-tax profit of the whole market in the third quarter of this year increased by 21.6% over the same period in 2023, maintaining a stable growth rate compared to the previous two quarters, increasing by 20.7% over the same period in the first quarter and increasing by 21.4% in the second quarter.

Notably, growth was mainly contributed by the non-financial group which increased by 29% while the financial group recorded a lower increase of 15.7% due to poor results in securities and insurance.

In the third quarter of this year, the stock market liquidity was low and trading was less active. As a result, the group of securities companies reduced the growth profit of the entire market by 344 billion VND in the third quarter. Meanwhile, the non-life insurance group also reduced its profit by 409 billion VND, due to the impact of compensation after Typhoon Yagi, according to information from WiGroup - another data unit in the market.

In addition, the profits of the oil refining and petroleum retail groups also decreased sharply due to the decrease in gasoline prices. Binh Son Refining and Petrochemical Joint Stock Company (BSR) lost 1,209 billion VND in the third quarter of this year, while last year they made a profit of 3,235 billion VND, which reduced growth by 4,445 billion VND. Petrolimex's petroleum retail profits decreased by 82%, PV OIL's profits decreased by 84%. The total of these two groups decreased by nearly 5,200 billion VND of the market.

Proposal to fine up to 15 million VND if using forces to participate in protecting security and order at facilities against regulations

The Ministry of Justice is appraising the draft decree amending and supplementing a number of articles of Decree 144/2021 regulating administrative sanctions for violations in the fields of security, order, and social safety; prevention and control of social evils; fire prevention and fighting; rescue; and prevention and control of domestic violence.

In the draft, the Ministry of Public Security proposed to add administrative penalties related to forces participating in protecting security and order at the grassroots level.

In particular, a fine of 500,000 VND to 1 million VND will be imposed on acts of illegally storing, using or illegally possessing uniforms, badges, insignia, signs, and certificates of forces participating in protecting security and order at the grassroots level.

Fines from 3-5 million VND for acts of illegally buying, selling, mortgaging or exchanging uniforms, badges, insignia, signs, and certificates of forces participating in protecting security and order at the grassroots level.

Fines from 5-10 million VND for acts of illegally producing or counterfeiting uniforms, badges, insignia, signs, and certificates of forces participating in protecting security and order at the grassroots level...

The draft also proposes a fine of 1-2 million VND for impersonating a force participating in protecting security and order at the grassroots level. A fine of 3-5 million VND will be imposed for insulting, threatening, obstructing, or opposing a force participating in protecting security and order at the grassroots level while performing their duties.

Fines of 10-15 million VND for acts of using forces to participate in protecting security and order at the grassroots level in violation of the Law on Forces Participating in Protecting Security and Order at the Grassroots Level or committing acts that violate the law.

By the end of 2024, it is expected to complete more than 243km of coastal road.

Tin tức sáng 4-11: Ngân hàng đầu tiên nắm khối tài sản trên 100 tỉ USD - Ảnh 4. — Vo Chi Cong Street, a coastal road in Quang Nam, is 36.5km long from Cua Dai Bridge (Duy Xuyen District) to the intersection of National Highway 40B (Tam Ky City), planned to be 38m wide - Photo: LE TRUNG

According to a report by Minister of Planning and Investment Nguyen Chi Dung, by the end of 2024, the country is expected to complete 243.5km of coastal roads.

Of which, in 2022, 79.3km of coastal road through Quang Ninh province (Van Don - Mong Cai section) was put into operation.

By 2024, it is expected to complete 164.2km of coastal road through the provinces and cities of Hai Phong (19.6km), Thai Binh (35.5km), Nam Dinh (65.8km), Ninh Binh (3.25km), the section through Nghe An province (7.5km), Binh Thuan (32.5km).

According to the report, it is expected that by the end of 2024, about 365.8km of local roads and bridges will be completed and put into operation.

Including Ha Giang (41.5km), Thai Nguyen (42.55km), Bac Kan (37km), Phu Tho (53.5km), Bac Giang (42.16km), Hai Phong (2.2km), Hai Duong (36.5km), Hung Yen (33.5km), Ninh Thuan (22.3km), Tay Ninh (14.9km), Long An (14.2km), Ca Mau (25.5km).