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The Bank for Investment and Development of Viet Nam (BIDV) has received the approval of the Central Bank of Myanmar to open its office in Myanmar.
BIDV becomes the first Vietna-mese bank to open a branch in Myanmar.
The Central bank of Myanmar has also granted a licence to three banks from Taiwan, South Korea and India.
BIDV has to complete all procedures and conditions for the opening of the new branch, as prescribed by the Central Bank of Myanmar, within 12 months of the date of issue of the preliminary licence.
BIDV plans to open its new office in 2016. It will be located at the Hoang Anh Gia Lai – Myanmar Centre. BIDV earned more than 7 trillion dong in pre – tax profit (US$315.2 million) and had total assets worth 857 trillion dong in 2015. — Viet Nam News

Firms on MAI post 10% rise in combined earnings
Thai companies listed on the Market for Alternative Investment (MAI) reported a combined net profit of Bt5.72 billion for 2015, up 10.19 per cent from a year earlier with Property & Construction, Financials and Resources leading the pack.
President Prapan Charoen-prawatt said the aggregated profits came from 118 companies out of a total of 122 that filed their 2015 financial reports (excluding those not submitting their reports in time and non-compliance group), of which 87 companies or about 74 per cent had made net profits. Their combined sales amounted to Bt124.9 billion (approximately US$ 3.5 billion), up 1.79 per cent from a year earlier. With a 2.16 per cent decrease in operating costs to Bt94.5 billion, the total gross profit margin had increased to 24.33 from 21.27 per cent in 2014, thereby their total net earnings rose to Bt5.72 billion or a rise of 10.19 per cent.