A provisional reimbursement has helped Bao Viet Holdings post a soaring profit in the first half of this 2012 in stark contrast to its core business. The financial-insurance group’s pre-tax profit jumped by VND362 billion ($17.5 million), or 54.4 per cent, year-on-year to VND1.03 trillion ($49.8 million) within 2012’s first half. Revenue just modestly increased 10.2 per cent to VND7.72 trillion... 

Bao Viet Holdings yesterday announced its consolidated profit for the first half of 2011, with a decline on surging provisions for securities businesses. The firm posted its first half consolidated pre-tax profit with an 8.5 per cent drop compared to VND665.01 billion ($32.4 million) from last year’s VND726.74 ($39.2 million), despite an increase of 19 per cent in revenue. The result made up some... 

HSBC Vietnam obtained US$82 million in pre-tax profit in the year’s first half, increasing 116% from the same period last year, the bank said on Tuesday. The profits also included earnings from its financial investments in Bao Viet Holdings and Techcombank. At this time, HSBC is holding a 20% stake in Techcombank and 18% stake in Bao Viet. HSBC did not reveal details on its profit structure. Sumit... 

Bao Viet Holdings (BVH), Vietnam’s biggest financial-insurance group, posted a modest 9 per cent year-on-year gain in consolidated pre-tax profit last week, aided by a strong jump in general insurance. The state-owned firm said its consolidated pre-tax profit in the three months to March 31, this year rose 9 per cent, or almost VND28 billion ($1.35 million), to VND345 billion ($16.67 million) as... 

Bao Viet Holdings, Vietnam’s largest insurer, reported a gross profit of VND1.255 trillion ($60 million) for 2010, nearly unchanged from 2009, failing to meet its initial target. Bao Viet projected 2011 gross profit to rise 15 percent to VND1.445 trillion on revenue of VND14.8 trillion, also up 15 percent from last year. The Hanoi-based state-owned group said its 2010 revenue rose 21.8... 

The State Capital Investment Corporation (SCIC) has no intention of withdrawing capital from HCM City-listed insurer Bao Viet Holdings (BVH) – at the moment. SCIC deputy general director Le Song Lai made the statement to reporters as a response to securities analyst recommendations that state shareholder should offload Bao Viet shares to help reduce its influence in the market. From last year... 

HANOI – Vietnam’s largest insurer, Bao Viet Holdings , faces losses of tens of millions of dollars due in part to investments in state shipbuilder Vinashin, and from stock trading losses, a state-run newspaper said on Monday. The Hanoi-based state-owned group bought non-guaranteed corporate bonds worth VND680 billion ($34.9 million) from Vinashin several years ago based on forecasts that... 

Volatility in the foreign exchange and inflation rates last week began to worry foreign investors, the final sustaining force on the nation’s stock markets in recent days. Net buys by foreign investors fell to an eight-week low on the HCM City Stock Exchange, totalling just VND194.6 billion (US$10 million) worth of shares, as Ha Noi’s inflation rate soared during October and the US dollar... 

Years ago, insurance was good business in Vietnam.   Prior to 1975, life and property insurance were offered by three Vietnamese firms nd about 70 French, UK and US firms. However, after 1975 all private insurance ceased, and insurance was only offered by a single company, the Vietnam Insurance Co., commonly known as Bao Viet. As is the case with many things in Vietnam, times have changed.   Today... 

HA NOI — Increased buys in the final minutes of trading yesterday on the HCM City Stock Exchanged helped the VN-Index erase losses posted earlier in the day and close largely unchanged at 497.19 points. Trading volume, meanwhile, dropped 26 per cent from Monday’s session to 38.2 million shares, worth a total of VND1.2 trillion (US$63.1 million). A few major stocks managed to gain ground, including...