Vietnam National Petroleum Group (Petrolimex) just approved the resolution of the Board of Directors on a plan to disinvest in Petrolimex Group Commercial Joint Stock Bank (PG Bank).
A PG Bank's employee talking to a customer at its office. Photo courtesy of PG Bank (Photo: VNA)
Hanoi (VNS/VNA) - Vietnam National Petroleum Group (Petrolimex)just approved the resolution of the Board of Directors on a plan to disinvestin Petrolimex Group Commercial Joint Stock Bank (PG Bank).
According to the plan, the company will disinvest its capital in the form of apublic auction through the Ho Chi Minh Stock Exchange (HoSE). Petrolimexcurrently holds 120 million shares, equivalent to 40% of PG Bank's shares.
The starting price for the disinvestment will take the highest price of thefollowing two prices: the price determined by the organisation with thevaluation function according to the asset method (21,300 VND or 0.91 USD pershare) or the average reference price of 30 consecutive trading sessions of PGBshares on the UpCOM exchange before the approval date of the divestment plan.
At the temporary price of 21,300 VND, the size of the disinvestment is at leastover 2.5 trillion VND.
PG Bank is one of the banks with the lowest charter capital in the system andhas remained unchanged for many years at 3 trillion VND. In 2022, the bank alsodidn't plan to increase its charter capital, marking its 12th consecutive yearof unchanging charter capital. It had paid dividends for ten straight years bylast year.
Previously, PG Bank planned to merge with VietinBank but the deal failed in2018. After that, HDBank had a merger agreement with PG Bank, but the plan wasalso cancelled in 2021.
In terms of business results, PG Bank's profit before tax in the fourth quarterwas more than 119 billion VND, a 107% increase over the same period of 2021.
For the whole of 2022, the bank's profit before tax reached 506 billion VND, up54% year-on-year and exceeding 24% of its yearly plan./.
The Vietnam National Petroleum Group (Petrolimex) and the Japan Cooperation Centre Petroleum (JCCP) on September 28 signed a cooperation agreement for Phase 3 of the cooperation project to improve the efficiency of management and operation of petroleum depots.
The Castrol, BP and Vietnam Petroleum Corporation (Petrolimex) signed an agreement extending their joint-venture contract for the next 20 years, starting from 2022, during an online ceremony on December 6.
The Vietnam National Petroleum Group (Petrolimex) cooperated with the global digital payment company Visa to launch contactless payment services at the former’s petrol stations across the country on May 31.
The Vietnam National Petroleum Group ((Petrolimex) is adopting a range of solutions in order to complete production and business targets of the third quarter and the entire year of 2022 in the context of unforeseeable fluctuations in petrol prices.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
A PG Bank's employee talking to a customer at its office. Photo courtesy of PG Bank (Photo: VNA) 
