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EFG International has appointed Urs Buchmann as Vice Chairman of its Asia business and Ashish Gumashta to its advisory team, effective immediately. Buchmann, formerly with Credit Suisse, has extensive experience in the Asia-Pacific region, while Gumashta brings over 30 years of banking expertise, particularly in the Indian market.
VPBank has disclosed that 13 individuals own over 40.8% of its shares, with Chairman Ngo Chi Dung holding 4.14%. The new Credit Institutions Act, effective July 1, expands the definition of "related persons," resulting in Mr. Dung and associates controlling nearly 34% of the bank's capital. Additionally, significant stakes are held by institutional shareholders, including Sumitomo Mitsui with over 15%.
Countries can halve premature death rates by 2050 by targeting 15 key health threats, primarily tobacco use, according to a Lancet Commission report. The report emphasizes the need for public financing of essential medicines and highlights the importance of high tobacco taxes as a critical policy tool. With a 23% chance of a pandemic similar to COVID-19 within the next decade, the urgency for improved health systems and preparedness is paramount.
Japan Bank for International Cooperation (JBIC) has signed a $150 million credit line agreement with Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), with JBIC contributing $90 million. This funding will support renewable energy and electricity grid projects in Vietnam, aligning with the country's goal of achieving net zero emissions by 2050 and enhancing its power infrastructure. The loan is part of broader initiatives, including the Asia Zero Emissions Community and the Vietnam Climate Finance Framework.
Lumen Vietnam Fund maintains a positive outlook for the Vietnamese stock market through late 2024 and into 2025, driven by global monetary easing and optimistic domestic economic forecasts. The Vietnamese government’s regulatory reforms and proactive measures are expected to enhance investor confidence and corporate earnings, while the fund continues to focus on a diversified portfolio across key sectors. In September, the fund recorded a 1.58% return, aligning closely with the VN-Index's performance.
Vietnam Prosperity Bank (VPBank) has achieved a brand value of $1.35 billion in 2024, marking a nearly 6% increase from the previous year and securing its position among the top 10 most valuable brands in Vietnam. This growth reflects stable revenue, effective communication, and enhanced employee satisfaction, contributing to its rise in brand strength. Over the past eight years, VPBank's brand value has surged from $56 million in 2016 to nearly $1.4 billion today, showcasing its remarkable progress in the banking sector.
VPBank Prime celebrated its 3rd anniversary with the Prime's Night concert, featuring performances by popular artists like Anh Tu and RHYDER, who energized the audience with their hits. The event highlighted VPBank Prime's commitment to empowering young Vietnamese through tailored financial solutions and innovative digital experiences, catering to Millennials and Gen Z. With 2.1 million members, the brand continues to thrive by understanding and addressing the unique needs of its diverse customer base.
VPBank Prime celebrated its 3rd anniversary with the vibrant "Prime's Night" concert, featuring performances from artists like Anh Tu, My My, and RHYDER, who energized the audience with their hit songs. The event highlighted VPBank Prime's commitment to empowering young people through innovative financial solutions tailored to their needs, focusing on Millennials and GenZ. With over 2 million members, VPBank Prime continues to revolutionize customer experiences through digitization and engaging initiatives.
Vietnam Prosperity Bank (VPBank) has secured a credit limit of 150 million USD from the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam. The agreement, signed on October 9, 2024, aims to support the national goal of achieving net zero emissions by 0, aligning with international sustainable development initiatives. This partnership underscores the growing trust of international financial institutions in VPBank and strengthens economic ties between Vietnam and Japan.
VPBank has secured a USD 150 million credit agreement with the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam, supporting the national goal of achieving net-zero emissions by 2050. The agreement, signed on October 9, 2023, aligns with Vietnam's Eighth Energy Development Plan and the Asia Zero Emissions Community initiative. This partnership underscores the growing confidence of international financial institutions in VPBank and strengthens economic ties between Vietnam and Japan.
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