Non-life insurers have cut back cash dividend rates for 2020 by maximum five percentage points as they prepare for a global economic downturn.

Financial reports released by some banks in the first quarter have reflected the adverse impacts of the COVID-19 pandemic on their business activities, with declining profits and rocketing bad debts.

Viettel Global Investment JSC posted more than 2.15 trillion VND (over 93 million USD) in pre-tax profit in 2019, surging 2.3 trillion VND from the loss of 150 billion VND in the previous year.

Corporate earnings were forecast to slow in 2020 as the economy became more vulnerable to external factors, data firms and securities businesses forecast.

Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than VND3 trillion (roughly US$130 million).

Truong Hai Auto Corporation (Thaco) has registered to buy five million shares of Hoang Anh Gia Lai Agricultural JSC (HNG).

Domestic banks have unveiled positive business performance results in the first half of this year, with some new records being set.

The Ministry of Agriculture and Rural Development has asked Vinafood 2 to review and punish individuals or groups associated with the corporation’s “mistakes” that have caused losses to the State budget. 

 VietNamNet Bridge – The national flag carrier Vietnam Airlines has set ambitious business targets for 2016, driven by high local economic growth and recovery of the international aviation industry.

 VietNamNet Bridge – While banks outdid each other in revealing their 2014 profit figures, they seem rather reserved in their 2015 profit outlook, Vneconomy newswire revealed.

 VietNamNet Bridge – Bankers said 2015 will remain a challenging year though some banks have reported higher earnings and there have been more positive signs in the local economy.