Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

Strong Economy/Rising Stock Market Valuation In many ways, Vietnam is like a perfect market created out of thin air, with strong and consistent growth favorable demographics, and improvements in areas such as inflation.  The added bonus includes the relatively unfavorable growth in other emerging markets, and how Vietnam is achieving its growth at the expense of other markets.   <a href="https://www.smartkarma.com/profiles/48" target="_blank" data-smartkarma-citation="accounts:48">Jason Tan</a> recently provided bullish coverage of Vietnam in the insight <a href="https://www.smartkarma.com/insights/vietnam-positives-all-around" target="_blank" data-smartkarma-citation="insights:6218">Vietnam: Positives All Around</a>, noting the strong…

Strong Economy/Rising Stock Market Valuation  In many ways, Vietnam is like a perfect market created out of thin air, with strong and consistent growth favorable demographics, and improvements in areas such as inflation.  The added bonus includes the relatively unfavorable growth in other emerging markets, and how Vietnam is achieving its growth at the expense of other markets.   Jason Tan recently provided bullish coverage of Vietnam in the insight Vietnam: Positives All Around, noting the strong…

Non-Life Insurance in Vietnam: The Best Way to Ensure a Strong Return

Corporate Credit Analyst

Alan Greene

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

A strong weighting in listed real estate equity is ideal for a portfolio in Vietnam, as the country's rapidly increasing FDI has been strongly targeting this industry.  Valuation is very low for a large number of these companies, and financial growth during 2015 was stellar.  Some of the most strategic projects include residential projects outside of Ho Chi Minh City's central business district, as well as other developments in central and northern Vietnam.  Constructing a portfolio of listed equity to fully capture the trends of Vietnam's diverse growth in this area is ideal.   When noting these strong trends of growth, it is also significant to mention that this area also provides benefits for various manufacturing sectors in Vietnam, in areas such as plastic manufacturing, steel manufacturing, and tile manufacturing.  This factor should be noted when considering an appropriate weighting for this industry, which currently stands as the 2nd most favorable sector for foreign investment.

A strong weighting in listed real estate equity is ideal for a portfolio in Vietnam, as the country's rapidly increasing FDI has been strongly targeting this industry.  Valuation is very low for a large number of these companies, and financial growth during 2015 was stellar.  Some of the most strategic projects include residential projects outside of Ho Chi Minh City's central business district, as well as other developments in central and northern Vietnam.  Constructing a portfolio of listed equity to fully capture the trends of Vietnam's diverse growth in this area is ideal.   When noting these strong trends of growth, it is also significant to mention that this area also provides benefits for various manufacturing sectors in Vietnam, in areas such as plastic manufacturing, steel manufacturing, and tile manufacturing.  This factor should be noted when considering an appropriate weighting for this industry, which currently stands as the 2nd most favorable sector for foreign investment.

Vietnam's Real Estate Industry Is on Fire

This insight covers the political implications of U.S President Barack Obama's visit to Vietnam, political opposition to the TPP, potential tensions with China, and investment implications in the event that the TPP is not approved and/or tension with China increases.

This insight covers the political implications of U.S President Barack Obama's visit to Vietnam, political opposition to the TPP, potential tensions with China, and investment implications in the event that the TPP is not approved and/or tension with China increases.

Nothing Can Trump Vietnam: Assessing the TPP and Other Geopolitical Risks/Opportunities

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's over-dependency on China, and the various industries this poses a threat towards. The TPP will serve as a catalyst to reconcile this in the future, yet select, strong domestic companies and foreign multinational corporations are currently in an advantageous state.

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's over-dependency on China, and the various industries this poses a threat towards. The TPP will serve as a catalyst to reconcile this in the future, yet select, strong domestic companies and foreign multinational corporations are currently in an advantageous state.

Strategically Avoiding Vietnam's Thorns: Investment Implications

Vietnam

Military Commercial Joint Stock Bank offers commercial banking services.  The Bank provides services in the areas of personal banking, corporate banking, financial banking, and e-banking.  Military Commercial's services include savings accounts, money lending, money transfers, foreign exchange, and money markets.

Military Commercial Joint Stock Bank (MBB VN)

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) provides commercial banking services. The Bank offers domestic remittance services, savings account, personal loans, e-banking, trade financing, deposits, tax payment, foreign exchange, cash management, and other banking services. VPBank serves customers in Vietnam.

Ho Chi Minh Development Joint Stock Commercial Bank provides commercial banking services for retail and institutional customers. The Bank offers personal and car loans, overdraft, business financing, term deposits, current accounts, mobile banking, and online bills payment services. Ho Chi Minh Development serves customers in Vietnam.

Saigon Thuong Tin Commercial Joint-Stock Bank, known as Sacombank, operates various personal and corporate banking services such as deposits, foreign exchange transactions, loans, outward transfer, and international payments.

Vietnam Technological and Commercial Joint-stock Bank, doing business as Techcombank, provides banking services. The Bank offers savings, deposits, loans, credit cards, monetary management, trade finance, international payment, and foreign exchange services. Techcombank serves individuals, corporates, and the government sectors in Vietnam.

Vietnam Joint Stock Commercial Bank For Industry and Trade accepts deposits and offers commercial banking services.  The bank offers corporate and consumer loans; insurance; securities and derivatives brokerage; lease financing; money transfer; credit cards; and other services

Vietnam Joint Stock Commercial Bank For Industry and Trade (CTG VN)

Vietnam Joint Stock Commercial Bank For Industry and Trade

Saigon - Hanoi Commercial Joint Stock Bank provides commercial and personal banking services.

Vietnam Export Import Commercial Joint Stock Bank provides various banking services and products to organizations and individual customers in Vietnam. The company offers demand, savings, time, overnight, accumulated, and payment deposits; deposits with preferential, tiered, and daily interest rates; deposits with optional terms; and certificates of deposit. It also provides housing loans, loans for small traders, loans secured by savings books and valuable papers, loans for securities trading and investments, T-day securities loans, overseas study loans, auto loans, unsecured loans for employees, overdrafts, and loans by investment projects; factoring services; and prepaid, debit, credit, co-branded cards. In addition, the company engages in foreign currency trading by spot, swap, forward, and currency options and gold trading; provides money transfer and remittance services; packaging services for overseas studies; Internet, mobile, and SMS banking services; and bill payment services, such as electricity, water, air ticket, and automatic bill payment services, as well as telecommunication charge payment and collection services. Further, it offers centralized deposit management, payroll, and cash services; payment of travelers� cheques, and cheque issuance and collection; international settlement services. Additionally, the company engages in the receipt of funds entrusted for investment; receipt of funds from domestic and foreign credit institutions; discount of commercial papers, state bonds, and valuable papers; investment in securities; issuance of domestic and international cards; financial advisory services; corporate bond trading; and other banking services. As of December 31, 2014, it operated a network of 208 banking units, including 44 Branches, 163 transaction offices, and 1 savings fund. The company was founded in 1989 and is headquartered in Ho Chi Minh City, Vietnam.

National Citizen Commercial Joint Stock Bank provides various banking products and services for individuals and businesses in Vietnam. It offers term deposits, bank accounts, and other deposit products; and debit and credit cards. The company also provides loans for buying automobiles; short-term loans for business and production; loans for household items, travel, weddings, healing, and the other necessities of life; investment factory, warehouse, and office loans; home repair, overdraft, working capital, investment in machinery and equipment, and unsecured consumer loans; loans to buy capital property and land plots; and import commodity financing, as well as loans covering tuition fees and living costs for students. In addition, it offers overseas and domestic money transfer; foreign currency exchange; Western Union; phone recharge; and Internet, mobile, and phone banking services, as well as online payment services. The company was formerly known as Nam Viet Commercial Joint Stock Bank and changed its name to National Citizen Commercial Joint Stock Bank in May 2014. National Citizen Commercial Joint Stock Bank was founded in 1995 and is headquartered in Hanoi, Vietnam.

Bank for Investment and Development of Vietnam provides commercial banking services. The Company offers deposits, personal loans, e-banking, guarantees, and trade finance for customers, corporate, and financial institutions. Bank for Investment also offers foreign exchange, money market, derivatives, and debt market services.

Bank of Ayudhya Public Company Limited provides a full range of banking and financial services.  The Bank offers corporate and personal lending, retail and wholesale banking, international trade financing, asset management and investment banking services, to customers through its nationwide branches. It also has branches in Hong Kong, Vietnam, Laos, and Cayman Islands.

Columbia Banking System, Inc. is the holding company for Columbia Bank, a full service commercial bank.  The Bank serves small and medium-sized businesses, professionals, and other individuals through office in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington.

International Bancshares Corporation, through its bank subsidiaries, provides commercial and retail banking services through offices in south and southeast Texas.  The Bank accepts deposits from the general public and uses those funds to make a variety of loans.

First Financial Bankshares, Inc. is a multi-bank holding company. The Company operates several banks located in Texas. The Banks accept deposits, originate loans, transmit funds, and perform other banking services.

Glacier Bancorp, Inc. is a multi-bank holding company.  The Banks attract deposits from the general public and use those funds to originate a variety of commercial and consumer loans.

Metropolitan Bank & Trust Company offers commercial and investment banking services. The Bank's business activities include borrowing and lending, trade finance, remittances, treasury, investment banking and savings.

Huishang Bank Corporation Limited is a commercial bank. The Bank provides banking services including loans, money market operations, treasury business, investment and trading services, and valet transactions.

Bendigo and Adelaide Bank Limited offers a variety of banking and other financial services, including first mortgage housing finance, retail and business banking, commercial finance, funds management, treasury and foreign exchange services, superannuation and trustee services. Bendigo also offers internet banking.

Fukuoka Financial Group, Inc. is a holding company established through the merger of the Bank of Fukuoka and Kumamoto Family Bank. As a financial group, the Company provides banking services including deposits, loans, foreign currency transactions. The Company also provides other financial services such as credit card, letter of credit, and leasing services.

Punjab & Sind Bank is a commercial bank. The Bank offers its customers a wide range of banking products and services.

Asia Commercial Bank attracts deposits and offers commercial banking services.

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Asia Commercial Bank/Vietnam (ACB VN)

Non-Life Insurance in Vietnam: The Best Way to Ensure a Strong Return

Strong Economy/Rising Stock Market ValuationIn many ways, Vietnam is like a perfect market created out of thin air, with strong and consistent...

Nomadic Equity

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the...

Alan Greene

Vietnam's Real Estate Industry Is on Fire

A strong weighting in listed real estate equity is ideal for a portfolio in Vietnam, as the country's rapidly increasing FDI has been strongly...

Nomadic Equity

Nothing Can Trump Vietnam: Assessing the TPP and Other Geopolitical Risks/Opportunities

This insight covers the political implications of U.S President Barack Obama's visit to Vietnam, political opposition to the TPP, potential...

Nomadic Equity

Strategically Avoiding Vietnam's Thorns: Investment Implications

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's...

Nomadic Equity

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