Bao Viet posts $1.5 billion revenue in 2017

HA NOI (Biz Hub) — Insurance and finance conglomerate Bao Viet Holdings (Bao Viet) has set a target of VND22.5 trillion (US$1 billion) in revenue and VND1.19 trillion ($53 million) in after-tax profit this year, according to the company's general shareholder meeting on Wednesday.The figures are 6.2 per cent and 1.3 per cent higher than last year's numbers, respectively. In 2015, the company recorded total revenue of nearly VND20.8 trillion and an after-tax profit of VND1.17 trillion.Bao Viet also plans to pay a dividend of 8 per cent, or VND800 per share, to shareholders for last year and this year's…... [read more]

The 2016 list of Top 100 Sustainable Companies was announced on November 8.“Sustainable development is one of the primary aims of Bao Viet. We are honoured to see our efforts recognised,” said chairman Dao Dinh Thi.He also expressed the hope that the ranking will motivate the Vietnamese business community to grow sustainably so that their products will be competitive worldwide and they will be a pride of the Vietnamese people.In the first nine months of 2016, Bao Viet recorded a consolidated revenue growth of 21.8 per cent. The company was named among the 1,000 highest corporate tax contributors  in 2015…... [read more]

Bao Viet has new general directorHong Phuc By Hong Phuc - The Saigon Times Daily HCMC – Tran Trong Phuc will hold the post of general director of Bao Viet Holdings to replace Nguyen Thi Phuc Lam, who has spent 32 years working for the insurer. Bao Viet’s shareholders meeting 2013 in Hanoi on Wednesday approved the decision of the board of directors to appoint Phuc as new CEO replacing Lam, who will be retiring from June 1, 2013. Lam is one of the top executives involving in equitization of Bao Viet, developing the company in line with the holding…... [read more]

Vietnam’s largest insurer Bao Viet Holdings (BVH) reported to make a pre-tax profit of VND1,521 billion in 2011, up 17.31 percent year on year, on revenues of VND14,872  billion, up 15.32 percent. Revenues from life and nonlife insurance totalled VND9,751 billion. Bao Viet Life Insurance Company reported a profit before tax of VND606 billion. Bao Viet Insurance posted a pre-tax profit of VND447 billion, an increase of VND112 billion (up 33.51 percent).Insurance premiums reached VND9,372 billion, a rise of VND1,127 billion (up 13.66 percent).  Earnings from banking operations were VND431 billion, an increase of VND148 billion, or 52.26 percent. Profit before tax of parent company…... [read more]

Illustration photo Director of the Ministry of Industry and Trade’s Planning Department Duong Duy Hung was quoted as saying that this would be the first year Viet Nam would gain the impressive high export growth rate. Industrial production index (IPI) was projected to outstrip the year plan and make positive contribution to the  GDP growth rate of 2017 at about 6.7%. Total circulation of goods and service revenue would fetch a two-digit number. The Ministry of Industry and Trade (MoIT) reported that trade turnover touched US$ 100 billion from December 1, 2007 to US$ 400 billion as of December 19, 2017. Deputy Director of the Ministry's Import-Export Department…... [read more]

Info-comm sector posts VND520 tril. revenueVan Ly By Van Ly - The Saigon Times Daily HANOI – Vietnam’s information and communications sector last year reported total revenue of VND520 trillion and paid an estimated VND63.88 trillion in taxes, shows data of the Ministry of Information and Communications. The sector includes areas such as publishing, software, digital content, television and telecommunications. The ministry said at a 2015 review meeting last week that the publishing field registered total revenue of VND5.1 trillion, export turnover of US$4.1 million, and imports of US$18.9 million. Last year Tran Phu Printing Company alone achieved VND402 billion…... [read more]

HSBC Insurance may raise stake in Bao Viet to 25%By Nguyen Phong and Hong Phuc - The Saigon Times DailyHANOI – HSBC Insurance under the foreign-owned bank HSBC is in talks to increase its stake in Vietnam’s biggest insurer Bao Viet Holdings to 25%, said the local corporation’s chairman.Le Quang Binh said in a press meeting in Hanoi on Monday that HSBC Insurance as his corporation’s strategic “The foreign investor can raise its stake to the maximum of 25% under the agreement,” Binh said. He added that given investment and good technical support of the foreign investor to Bao Viet,…... [read more]

Winners of the Viet Nam Heritage Photo Awards 2017 were announced at the award ceremony of the contest, held by Viet Nam Heritage Magazine, in Ho Chi Minh City on November 21. "Ve dich” (Heading to the finish line) by Ngo Minh Phuong wins the first prize of The event is part of activities to celebrate the Viet Nam Cultural Heritage Day, which falls on November 23. After five months of launching, with over 3,400 works submitted, the organising committee voted for 16 best photos by authors from provinces and cities across the country, featuring the richness and diversity of…... [read more]

Ho Chi Minh City-listed Bao Viet Holdings - the largest insurer in Vietnam - reported its consolidated gross profit of VND1,255 billion in 2010, an increase of VND12 billion over 2009. The group’s consolidated revenues totalled VND12,863 billion, a rise of VND2,303 billion or 21.8 percent from 2009.  The group’s gross profit reached VND887 billion in 2010, up 1 percent from 2009 with VND882 billion. Its revenues were VND1,258 billion, an increase of VND336 billion or 36 percent from 2009 with VND922 billion. The assets valued at VND12,769 billion, up 23 percent from 2009 (with VND10,370 billion). Bao Viet also…... [read more]

Vietnam National Insurance Corporation (Bao Viet) hosted a press conference May 15 announcing its plan to auction roughly 60 million shares at its initial public offering (IPO). This is one of the 25 largest State-run corporations to go entirely public. Ms. Nguyen Thi Phuc Lam, General Director of Bao Viet, said: Under the plan approved by the Ministry of Finance, Bao Viet will soon be transformed into a joint stock firm, Bao Viet Holdings. Bao Viet Holdings will have chartered capital of VND6,800 billion (US$375 million), or 680 million shares with nominal value of VND10,000. The State will hold a 65.34…... [read more]