belden incorporated is an american manufacturer of networking , connectivity , and cable products .

the company designs , manufactures , and markets signal transmission products for demanding applications .

these products serve the industrial automation , enterprise , security , transportation , infrastructure , and residential markets .

belden is one of the largest u.s.-based manufacturers of high-speed electronic cables primarily used in industrial , enterprise , and broadcast markets .

belden ( electronics company )

belden signal solutions distribution company , s . de r . l . de c . v .
belden ' s highly differentiated , high - performance products can be found in a variety of markets including industrial , enterprise , broadcast , transportation , energy and consumer electronics .
frank madren , ceo of garretcom , will remain with the company , as will most of the company’s 125 employees , according to stroup . “any adjustments would be minor , ” stroup said .
belden - this means , above all , many commited employees , who contribute to the success of the company with their energy and their ideas .
as used herein , unless an operating segment is identified or the context otherwise requires , belden ,  the company and we refer to belden inc . and its subsidiaries as a whole .
belden inc . said monday it bought poliron cabos elétricos especiais ltda , a brazilian cable company , in an all - cash deal valued at $ 30 million .
belden inc . said tuesday it plans to buy garrettcom , an industrial networking and smart grid company based in fremont , calif . , for $ 52 million .
belden global c . v . & belden wire & cable b . v . finance gbr
clayton - based belden ( nyse : bdc ) designs , manufactures and markets signal transmission products for data networking and specialty electronics applications . it has 7 , 500 employees . it reported $ 1 . 6 billion in revenue in 2010 .
summer internships last approx . 12 weeks and interns are given projects on real solutions and / or create new programs for the company .
belden inc . is a delaware corporation incorporated in 1988 . the company reports in four segments : the americas segment , the wireless segment , the europe , middle east and africa ( emea ) segment and the asia pacific segment . financial information about the companys four operating segments appears in note 4 to the consolidated financial statements .
cathy odom staples has been vice president , human resources of the company ( title changed as reflected in the above table in february 2009 ) since july 2004 , and held the same position with belden 1993 inc . from may 1997 through july 2004 . she was vice president , human resources for belden electronics from may 1992 to may 1997 . ms . staples has a b . s . b . a . in human resources from drake university .
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naresh kumra , president , belden asia / pacific , has been appointed an officer of the company . mr . kumra will oversee the entire belden asia segment , including the recently acquired ltk wiring business . mr . kumra , who is 37 , joined belden in march 2006 as vice president , business development , and in june 2006 was named president , belden asia / pacific .
the addition of garrettcom’s products will complement belden’s existing industrial networking portfolio , belden president and chief executive john stroup said .
clayton - based belden ( nyse : bdc ) makes cable , connectivity and networking products for industrial automation , transportation , infrastructure and consumer electronics . ibelden reported a profit of $ 20 . 6 million for the third quarter ended oct . 3 on revenue of $ 411 . 5 million .
belden is a leader in the design , manufacture , and marketing of signal transmission solutions for data networking and a wide range of specialty electronics markets including entertainment , industrial , security and aerospace applications . to obtain additional information contact investor relations at 314 - 854 - 8054 , or visit our website at urltoken .
when the deal is completed , belden plans to combine grass valley with miranda , which belden acquired in 2012 for $ 345 million .
belden offers end to end signal transmission solutions in a variety of markets . find your market and see how belden could help you .
stephen h . johnson has been treasurer of the company ( title changed as reflected in the above table in february 2009 ) since july 2004 , and was treasurer of belden 1993 inc . from july 2000 to july 2004 . from november 2005 until august 2006 he served in the additional capacity of interim chief financial officer of the company . he was vice president , finance of belden electronics from september 1998 through june 2000 and director , tax and assistant treasurer of belden 1993 inc . from october 1993 through august 1998 . he was associated with the public accounting firm of ernst & young llp from 1980 through september 1993 and was a partner with that firm since 1989 . mr . johnson has a b . a . in history from austin college and a ph . d . in philosophy from the university of texas at austin . he is a certified public accountant .
denis suggs joined belden in june 2007 as vice president , operations , and president , belden americas ( title changed as reflected in the above table in february 2009 ) . prior to joining belden , he held various senior
specifically , the company was impressed by the filtering functionality of infor erp ln and other features that made it easier for users to get the data they needed . the company chose to implement the open - platform infor erp ln on microsoft® windows® and sql server . in a little over a year , the implementation was completed at redland , and at the belden operations six months later . but infor erp ln began impressing adams and his team long before implementation was complete .
belden lrc mexico s . de r . l . de c . v .
louis pace , currently belden ' s vice president , business development , has been named president of the specialty products division and has been promoted to an officer of the company . the specialty products division encompasses the mohawk , thermax and west penn wire brands and has operations in the united states and mexico . mr . pace , age 36 , joined the company in may 2006 as vice president , marketing , for the specialty division , and in june 2006 he was promoted to vice president , business development .
belden sells its signal transmission products and solutions under the belden brand name ; under the belden brands of garrettcom , hirschmann , lumberg automation , poliron , tofino security , ppc , grass valley and thinklogical ; and as products and solutions from the following belden companies : mohawk , west penn wire , alpha wire , tripwire and prosoft technology .
belden works to design and implement world - class , secure , transportation network infrastructures .
to stay ahead in the international competition , belden continuously needs motivated and qualified employees .
belden produces and sells cables , connectors , active connectivity products , and wireless products .
we look forward to incorporating tripwire technology into selected belden products and providing tripwire with access to existing belden customers that are anxious to improve the robustness and security of their networks ,
said john stroup , president and chief exec of belden in a statement .
phone : 1 - 800 - belden - 1 email : info . lumberg @ urltoken map
naresh kumra joined belden in march 2006 as vice president of business development , and was named vice president , operations and president , asia pacific ( title changed as reflected in the above table in february 2009 ) in june 2006 . from 1999 to 2006 , he worked for mckinsey & company , inc . , a global management consulting firm . from 1991 to 1997 , he worked for industrial and electronics businesses of schlumberger industries in new delhi , india , and poitiers , france . he graduated from the indian institute of technology in delhi with a b . s . in computer science and has an m . b . a . from the darden school at the university of virginia in charlottesville , virginia .
signal transmission firm belden has agreed to buy security tools firm tripwire for $ 710m in cash .
call 1 - 800 - belden - 1 or fill out a short form to get support .
financial information for belden by geographic area is shown in note 4 to the consolidated financial statements .
back in september , belden and tripwire announced a joint initiative to improve critical infrastructure cybersecurity in manufacturing organisations . belden evidently liked the technology so much it decided to buy the privately held firm behind it .
this positions belden as a leader in helping customers deploy and secure the internet of things .
a belden digital building can enhance security , reduce operating costs , and adapt to changes with ease .
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belden funded the acquisition with cash on hand and expects the acquisition to be break even in fiscal 2011 .
belden works to provide technology and network communication solutions to ensure maximum availability in these highly - automated environments .
belden said it would use cash on hand and close the deal by the end of calendar 2010 . belden expects the business will be break - even on a generally accepted accounting principle ( gaap ) basis in fiscal 2011 .
you can rely on belden to provide seamless and secure solutions keeping your system up and running—even under harsh conditions .
st . louis , missouri - belden ( nyse : bdc ) today announced several executive appointments with immediate effect .
last week , belden said it plans to sell its trapeze networks for $ 152 million to juniper networks , two years after belden bought the wireless local area network ( wlan ) systems and management software provider for $ 133 million .
we utilize the belden business system . we improve quality , delivery and cost . we eliminate waste from all processes .
we learn from each other as one belden . we value inclusivity and diverse opinions . we do not accept silent disagreements .
learn about opportunities for college students and recent graduates to advance early in their careers at belden . early career employment opportunities include :
belden has a comprehensive line of industrial cabling , connectivity and networking devices , offering the most reliable communications solutions for your application .
for over 110 years , belden has propelled signal transmission technology forward as the world ' s leading manufacturer of rugged cable solutions .
all belden products are designed and manufactured to the strictest quality standards in the industry resulting in an incomparable reputation for worldwide reliability .
“we are extremely excited to have grass valley join the belden family , ” explained john stroup , president and ceo of belden inc . , in a statement . “by combining grass valley and miranda , we will create the broadcast industry’s largest and most complete portfolio . ”
when the deal closes , belden will have more than 7 , 000 employees worldwide , including 50 of them in st . louis .
earlier this month , belden announced plans to buy thomas & betts corp . ’s communications products business for $ 78 million in cash .
john s . norman joined belden in may 2005 as controller and was named chief accounting officer ( title changed as reflected in the above table in february 2009 ) in november 2005 . he was vice president and controller of graphic packaging international corporation , a paperboard packaging manufacturing company , from 1999 to 2003 and has 17 years experience in public accounting with pricewaterhousecoopers llp . mr . norman has a b . s . in accounting from the university of missouri and is a certified public accountant .
executive positions at danaher corporation , most recently as the president , portescap and serving as the chairman of the board  portescap international , portescap switzerland , danaher motion india private ltd . , and airpax company . mr . suggs holds a b . s . in electrical engineering from north carolina state university and an m . b . a . from duke .
in july 2008 , belden acquired trapeze networks , inc . during 2007 , belden completed three acquisitions : hirschmann automation and control gmbh , ltk wiring co . ltd . and lumberg automation components . for more information regarding these acquisitions , see note 3 to the consolidated financial statements .
“this acquisition allows us to be a legitimate player in one of the more attractive emerging markets , ” belden president and ceo john stroup said .
system to answer customer questions quickly . and nearly 750 individuals in belden’s base of approximately 250 dealers and distributor customers have convenient access to their data via
their delivered orders , their invoices , and their acknowledgments . they also can be notified whenever belden issues a bill of lading that pertains to them—with a
daniel krawczyk has been hired as vice president , business development , to replace mr . pace . mr . krawczyk most recently served as manager of mergers and acquisitions and strategy with dte energy , a diversified energy provider , and has previous experience in product line management , strategy , finance and engineering with delphi medical systems corp . , delphi automotive systems corp . , and ford motor company .
belden , which makes everything from industrial networking equipment to enclosures , hopes to grow its bottom line by expanding into cyber - security through the tripwire acquisition .
with locations around the globe , belden is uniquely situated to meet your worldwide needs . find your regional office below with details on how to contact us .
belden offers a significant product portfolio for signal transmission , data communication networks and power supply of devices designed for many applications in industrial automation and machine building .
please apply for a position as apprentice , trainee , student or directly for one of the vacant positions . belden offers manifold opportunities for a successful career .
there are great opportunities in a variety of fields for experienced professionals to contribute as part of the belden team . learn more about open positions in the following regions :
john stroup , president and chief executive officer of belden , said :
louis played a pivotal role as vice president , business development , in the three very successful acquisitions that belden cultivated and closed almost simultaneously this spring and knows how to get results through our strategy deployment process . naresh pulled together our 2006 strategic plan with me , before taking charge of our asia business . i have confidence in his ability to drive belden ' s continued rapid growth and integration in the asia / pacific region .
in a notable example of the ongoing consolidation in the broadcast technology sector , belden has submitted a binding offer to purchase privately - held grass valley for $ 220 million .
belden ' s unique early career leadership program ( eclp ) is a three year , cohort - based development plan for recently graduated seniors looking to jump start their careers .
kevin l . bloomfield has been vice president , secretary and general counsel of the company ( title changed as reflected in the above table in february 2009 ) since july 2004 . from august 1993 until july 2004 , mr . bloomfield was vice president , secretary and general counsel of belden 1993 inc . he was senior counsel for cooper industries , inc . from february 1987 to july 1993 , and had been in coopers law department from 1981 to 1993 . he has a b . a . in economics , a j . d . from the university of cincinnati and an m . b . a . from the ohio state university .
advances in copper cable technologies and data transmission equipment have increased the relative performance of copper solutions . for example , in early 2005 we introduced the belden system 10 - gx for the data networking or enterprise market , providing reliable 10 gigabits - per - second performance over copper conductors . beldens system 10 - gx accomplishes this using unshielded twisted pair cables and patented
belden copper systems represent networking leadership at every turn , providing top - performing structured cabling systems that reduce downtime , ease deployment and facilitate migration to advanced networking technologies and converged building systems .
belden enterprise connectivity products deliver the signal transmission solutions that provide the advanced performance and reliability needed to support mission - critical information systems , advanced communications networks , premise security systems and building automation and control systems .
belden has hired peter leung as vice president and general manager , ltk wiring , a business acquired by belden in march 2007 . he will report to naresh kumra . mr . leung has general management experience with several u . s . multinational companies in asia , most recently as vice president and general manager of alcoa closure systems international in beijing , china , and international paper ( asia ) ltd . in guangzhou , china .
belden ' s reliable products , and its design , engineering and manufacturing excellence , enable it to create end - to - end signal transmission solutions that meet the most demanding standards for data , sound , and video applications .
when belden acquired redland brick co . in 1996 , the companies standardized on ssa global’s mk erp system until 2006 , when infor™ acquired ssa and began offering the web - based infor erp ln solution . the solution is built on infor’s open soa ( service - oriented architecture ) and offers extensive lean manufacturing functionality . belden knew it was time for a change . “since it appeared that ln was going to be the ‘future , ’ we asked whether we should stick with mk or go to another application , ” says jeff adams , cio for both belden and its redland brick subsidiary . “we spent some time evaluating what made the most sense . we liked the functionality we saw in ln . ”
belden expects to make money from the deal from the get - go , with an expected impact to adjusted income from continuing operations per diluted share of $ 0 . 65 in 2015 and more than $ 1 . 00 in 2017 . ®
the filtering functionality of infor erp ln is also key . “users such as production managers and salespeople can create their own filters for each screen , so they can focus on the data that is important to them , ” says adams . “for example , if they want to focus on a certain size , color , or shape of brick , they can do that as they look down through their inventory . ” the functionality makes it easier for users to build uniform packages of brick from a wide array of loose inventory in various sizes , colors , and shades—helping the company maintain its long - standing reputation for quality and consistency .
belden , supported by program partners meridian health services , centerstone behavioral health , ivy tech community college and manpower , developed a pilot project so we can “walk the walk” by helping potential employees who struggle with addiction get on the road to recovery .
steven biegacki was appointed vice president , global sales and marketing ( title changed as reflected in the above table in february 2009 ) in march 2008 . mr . biegacki was previously vice president , marketing for rockwell automation . at rockwell , he initially served as devicenet program manager , was promoted to business manager , automation networks in 1997 , vice president , integrated architecture commercial marketing in 1999 , vice president , components and power control commercial marketing in 2005 . previously , he was an automation systems architecture marketing manager for allen - bradley company . he has a b . s . in electrical engineering technology from eti technical college in cleveland , ohio .
privately held poliron has one of the most complete lines of industrial cables in the region . belden said it plans to leverage poliron’s manufacturing footprint to improve its costs and lead - times for existing products purchased in brazil and other countries in the region .
we have manufacturing facilities in canada , mexico , china and europe . during 2008 , approximately 58 % of beldens sales were for customers outside the united states . our primary channels to international markets include both distributors and direct sales to end users and oems .
the following table sets forth certain information with respect to the persons who were belden executive officers as of february 27 , 2009 . all executive officers are elected to terms that expire at the organizational meeting of the board of directors following the annual meeting of shareholders .
the belden product portfolio consists of best - in - class communication technology . our customers benefit from over a century of excellence in manufacturing to the highest standards . our global team is able to share innovations and thought leadership across the organization to stay ahead of the competition .
whether you are networking your devices to the controllers , connecting the controllers to the control room , relaying data between the control room , the engineering department , and remote manufacturing sites - or all of the above - belden has the products you need to seamlessly connect your communications .
we will provide upon written request and without charge a printed copy of our annual report on form 10 - k . to obtain such a copy , please write to the corporate secretary , belden inc . , 7733 forsyth boulevard , suite 800 , st . louis , mo 63105 .
ramp - up time for users to get up and running in infor erp ln was half the time required for the legacy ssa global mk system . and though the company has not tried to measure it , adams says he knows the way employees use the screens in infor erp ln is more efficient and cost - effective . “it’s hard to quantify data accessibility , ” he says . “nevertheless , it’s clear that our people are using the system to good advantage . ” he cites an example of the way plant managers can easily navigate between financial statements , the general ledger , and the transaction that generated a cost . “there is great drill - down functionality from the finance side to the source transaction , and we haven’t had that before , ” he says .
the asia pacific segment includes the operations of ltk wiring co . ltd . acquired on march 27 , 2007 , in addition to its belden cable business . this segment contributed approximately 19 % , 16 % , and 4 % of our consolidated revenues in 2008 , 2007 , and 2006 , respectively .
belden produces and sells a comprehensive portfolio of connectivity and networking products into a variety of markets , including industrial , enterprise , and broadcast . our customers across all our brands can rely on what we build to outperform and outlast in the most demanding conditions , and they know that we’ll support them with uncompromising and responsive service .
belden maintains an internet website at urltoken where our annual report on form 10 - k , quarterly reports on form 10 - q , current reports on form 8 - k and all amendments to those reports are available without charge , as soon as reasonably practicable following the time they are filed with or furnished to the sec .
we also market the full range of belden products to our customers operating in asia , australia and new zealand . these customers include a mix of regional as well as global customers from north america or europe , in the industrial , networking , communications , audio and video , and security markets . we pursue both direct and channel sales depending upon the nature and size of the market opportunities .
but , with more connectivity comes more complexity . that’s why belden is on a path to assemble a portfolio of best - in - class communication technology brands that span technology platforms , geographies , and industries . our brands benefit from over a century of excellence in manufacturing to the highest standards , and they’re able to share innovations and thought leadership across the organization to stay ahead of the competition .
“even though brick - making has been around since the dawn of civilization , technology still moves forward and the competitive landscape continues to change , ” he says . “at the end of the day , how well we serve our customers is going to continue to be belden’s competitive advantage . ln is setting the foundation for the future , helping us drive cost reduction , minimize scrap , and identify new opportunities . ”
the principal competitive factors in all our product markets are product features , availability , price , customer support and distribution coverage . the relative importance of each of these factors varies depending on the customer . some products are manufactured to meet published industry specifications and are less differentiated on the basis of product characteristics . we believe that belden stands out in many of its markets on the basis of the breadth of our product offering , the quality and performance characteristics of our products , and our service and technical support .
we have supply agreements with distributors and with oem customers in the americas , europe , and asia . in general , our customers are not contractually obligated to buy our products exclusively , in minimum amounts or for a significant period of time . the loss of one or more large customers or distributors could result in lower total revenues and profits . however , we believe that our relationships with our customers and distributors are satisfactory and that they choose belden products , among other reasons , due to the breadth of our product offering and the quality and performance characteristics of our products .
over the past three years , the prices of metals , particularly copper , have been highly volatile . copper prices rose to a 5 - year high in july 2008 before falling by 66 % by the end of the year . prices for materials such as pvc and other plastics derived from petrochemical feedstocks have also fluctuated along with the price of oil . since belden utilizes the first in , first out inventory costing methodology , the impact of copper and other raw material cost changes on our cost of goods sold is delayed by approximately two months based on our inventory turns .
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“in addition to the long - term growth opportunities , we are excited to participate in the near term investments in support of the 2014 fifa world cup and 2016 summer olympic games ,
stroup said .
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grass valley , which is one of the largest suppliers of broadcast technology , is currently owned by san francisco - based private equity firm francisco partners . it bought the vendor in 2010 for $ 100 million .
the move reflects an ongoing consolidation in the broadcast technology sector that has produced a number of deals in the last two years .
this consolidation comes at a time when a slew of deals in the tv station sector has produced larger groups that are looking to deal with fewer vendors that can provide a full range of products as a way of reducing tech costs .
as previously reported , consolidation is also being fueled by a move to broadcast infrastructures that are more heavily based on software and inexpensive ip and it based hardware , rather than the more expensive hardware traditionally supplied by broadcast vendors . see
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the deal , announced monday , is expected to close in the first quarter of 2015 , subject to customary closing conditions .
tripwire ' s security and compliance products , such as tripwire enterprise , will be further developed and marketed to industrial and broadcast markets as well as existing corporate clients . tripwire ' s widely used technology helps clients detect , prevent and respond to myriad security threats .
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garrettcom sells grade switches , routers , converters and security software to power utilities , surveillance and security , transportation , specialty industrial automation and telecommunications companies . over the last 12 months , garrettcom had revenue of about $ 40 million .
“we acquired them because of their technology and market presence in areas that we like a lot , ” such as industrial or “rough” environments , including factory floor automation , large transportation such as railways and subways and alternative energy such as windmills , said stroup , 44 . “it’s a nice fit with our existing offerings . ”
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don’t pay the price of having an unsecured network in your industrial site . read this new white paper to learn the foundational controls for security and compliance .
the convergence in the digital building roadshow brings together several third - party technology experts to delve into the digital building solutions that support the latest trends in building automation , security , poe lighting , av and other converging applications .
our data center solutions integrate functional areas while improving cooling , power and density efficiency .
work with a single infrastructure partner for the cabling , connectivity , racks and cabinets needed to support your stadium or venue .
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we keep our promises to our customers . we earn our customers ' loyalty . we create value for our customers .
we measure and hold ourselves accountable for our performance . we outperform the competition . we create exceptional value for our shareholders .
we use sdp to drive breakthrough results . we stretch to create innovative processes . we learn from our failures .
we attract and retain the best talent . we pay for performance . we actively develop all associates and promote from within .
we are constantly developing and improving our product portfolio to evolve with your future technical and business challenges .
our fiber connectivity systems are the culmination of years of experience and expertise in a variety of applications , including data centers , premise and campus network backbone infrastructures , as well as fiber - to - the - desk ( fttd ) applications and horizontal and centralized cabling systems . our fiber products are faster , easier and better to use .
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to support your business goals , your network demands performance , security , productivity , reliability and efficiency . hirschmann understands these needs and offers a complete , integrated structure for data communication throughput that truly protects your investment .
we look forward to seeing you at our booth : hall 4 . 1 , booth 419
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since implementation , adams sees important benefits in the system’s user interfaces alone . “the standard interface that comes with the system isn’t fancy , but it is
very effective , and the interface has helped our users be more efficient in getting to the data they need . our focus is to get as much power into our users’ hands as we can ,
production managers appreciate having only one transaction screen for analyzing the quantity of scrap produced on a production run and why it occurred . previously they had to click through several screens to get the information they needed in their efforts to reduce scrap production . salespeople are using the
the world is growing more connected and as these connections are created , the networks they form become increasingly vital to our daily lives and our long - term goals .
we produce and sell a comprehensive portfolio of connectivity and networking products into a variety of markets , including industrial , enterprise , and broadcast . our customers across all our brands can rely on what we build to outperform and outlast in the most demanding conditions , and they know that we’ll support them with uncompromising and responsive service .
robert canny , the former president of the specialty products division , has elected to pursue other interests .
we produce and sell connectors primarily for industrial and data networking applications . connectors are also sold as part of end - to - end structured cabling solutions .
active connectivity products include industrial ethernet switches and related equipment , fiber optic interfaces and media converters used to bridge fieldbus networks over long distances , and load - moment indicators for mobile cranes and other load - bearing equipment .
our wireless products include a suite of wireless local area network products for use in a variety of markets including the healthcare , education , and enterprise markets .
we provide specialized cables for sound and security applications such as video surveillance systems , airport baggage screening , building access control , motion detection , public address systems , and advanced fire alarm systems . these products are sold primarily through distributors and also directly to specialty system integrators and contractors .
in the communications market , we manufacture flexible , copper - clad coaxial cable for high - speed transmission of voice , data and video ( broadband ) , used for the drop section of cable television ( catv ) systems and satellite direct broadcast systems . these cables are sold primarily through distributors .
the wireless segment designs , manufactures and markets a suite of wireless local area network ( wlan ) products for use in a variety of markets , principally in the healthcare and education markets , as well as the retail , manufacturing , logistics , financial , government , hospitality , and enterprise markets . the wireless segment consists of trapeze networks , inc . ( trapeze ) , which we acquired on july 16 , 2008 . this segment represented less than 1 % of our consolidated revenues in 2008 .
the wireless segment sells and licenses its products primarily through distributors and value added resellers worldwide . in addition , the wireless segment also sells and licenses its products through oem partners who market the products and technology under their own brand name . the wireless segment has thousands of direct and oem ( indirect ) customers globally , including many large enterprises , numerous government agencies , schools , universities and hospitals .
in addition to emeas cable operations , the segment includes the european operations of the hirschmann and lumberg automation businesses acquired on march 26 , 2007 and april 30 , 2007 , respectively . this segment contributed approximately 29 % , 27 % , and 25 % of our consolidated revenues in 2008 , 2007 , and 2006 , respectively .
in 2006 we sold a copper telecom cable business in the united kingdom , and in 2007 we completed our global exit from the outside plant telecom cable business with the sale of our czech cable operation . in 2008 we sold our czech cable assembly operation .
as discussed above , we sell to distributors and directly to oems and installers of equipment and systems . sales to the distributor anixter international inc . represented approximately 16 % of our consolidated revenues in 2008 .
there are potential risks in our relationships with distributors . for example , adjustments to inventory levels maintained by distributors ( which adjustments may be accelerated through consolidation among distributors ) may adversely affect sales . in addition , if the costs of materials used in our products fall and competitive conditions make it necessary for us to reduce our list prices , we may be required , according to the terms of contracts with certain of our distributors , to reimburse them for a portion of the price they paid for our products in their inventory . further , certain distributors are allowed to return certain inventory in exchange for an order of equal or greater value . we have recorded reserves for the estimated impact of these inventory policies .
changes in the relative value of currencies take place from time to time and their effects on our results of operations may be favorable or unfavorable . in most cases , our revenues and costs are in the same currency , reducing our overall currency risk .
a risk associated with our european manufacturing operations is the higher relative expense and length of time required to reduce manufacturing employment if needed .
our foreign operations are subject to economic and political risks inherent in maintaining operations abroad such as economic and political destabilization , international conflicts , restrictive actions by foreign governments , and adverse foreign tax laws .
we face substantial competition in our major markets . the number and size of our competitors varies depending on the product line and operating segment .
for each of our operating segments , the market can be generally categorized as highly competitive with many players . some multinational competitors have greater financial , engineering , manufacturing and marketing resources than we have . there are also many regional competitors that have more limited product offerings .
although we believe that we have certain technological and other advantages over our competitors , realizing and maintaining such advantages will require continued investment in engineering , research and development , marketing and customer service and support . there can be no assurance that we will continue to make such investments or that we will be successful in maintaining such advantages .
we engage in continuing research and development programs , including new and existing product development , testing and analysis , process and equipment development and testing , and compound materials development and testing . hirschmann , lumberg automation , and trapeze engage in businesses that involve higher levels of research and development because of shorter product life cycles . therefore , our aggregate research and development expense has risen in proportion to total sales since we acquired these operations in 2007 and 2008 . see the consolidated statements of operations for amounts incurred for research and development .
the principal raw material used in many of our products is copper . other materials that we purchase in large quantities include fluorinated ethylene - propylene ( both teflon ® and other fep ) , polyvinyl chloride ( pvc ) , polyethylene , aluminum - clad steel and copper - clad steel conductors , other metals , optical fiber , printed circuit boards , and electronic components . with respect to all major raw materials used by us , we generally have either alternative sources of supply or access to alternative materials . supplies of these materials are generally adequate and are expected to remain so for the foreseeable future .
when the cost of raw materials increases , we are generally able to recover these costs through higher pricing of our finished products . the majority of our products are sold through distribution , and we manage the pricing of these products through published price lists which we update from time to time , with new prices taking effect a few weeks after they are announced . some oem customer contracts have provisions for passing through raw material cost changes , generally with a lag of a few weeks to three months .
our business is characterized generally by short - term order and shipment schedules . accordingly , we do not consider backlog at any given date to be indicative of future sales . our backlog consists of product orders for which we have received a customer purchase order or purchase commitment and which have not yet been shipped . orders are subject to cancellation or rescheduling by the customer , generally with a cancellation charge . at december 31 , 2008 , our backlog of orders believed to be firm was $ 130 . 1 million compared with $ 166 . 6 million at december 31 , 2007 . the backlog at december 31 , 2008 is scheduled to be shipped in 2009 .
we are subject to numerous federal , state , provincial , local and foreign laws and regulations relating to the storage , handling , emission and discharge of materials into the environment , including the comprehensive environmental response , compensation , and liability act , the clean water act , the clean air act , the emergency planning and community right - to - know act and the resource conservation and recovery act . we believe that our existing environmental control procedures and accrued liabilities are adequate , and we have no current plans for substantial capital expenditures in this area .
we do not currently anticipate any material adverse effect on our results of operations , financial condition , cash flow or competitive position as a result of compliance with federal , state , provincial , local or foreign environmental laws or regulations , including cleanup costs . however , some risk of environmental liability and other costs is inherent in the nature of our business , and there can be no assurance that material environmental costs will not arise . moreover , it is possible that future developments , such as increasingly strict requirements of environmental laws and enforcement policies thereunder , could lead to material costs of environmental compliance and cleanup by us .
as of december 31 , 2008 , we had approximately 7 , 500 employees worldwide . we also utilized about 700 workers under contract manufacturing arrangements . approximately 1 , 600 employees are covered by collective bargaining agreements at various locations around the world . we believe that our relationship with our employees is good .
connector technology . the finalization in february 2008 of the industrys 10 - gig - over - copper , category 6a cabling standard and the recent 10gbase - t product announcements have accelerated the adoption of these higher - capacity copper network solutions .
the final stage of most networks remains almost exclusively copper - based and we expect that it will continue to be copper for some time . however , if a significant decrease in the cost of fiber optic systems relative to the cost of copper - based systems were to occur , such systems could become superior on a price / performance basis to copper systems . we do not control our own source of optical fiber production and , although we cable optical fiber , we could be at a cost disadvantage to competitors who both produce and cable optical fiber .
in the industrial automation market , there is a growing trend toward adoption of industrial ethernet technology , bringing to the factory floor the advantages of digital communication and the ability to network devices made by different manufacturers and then link them to enterprise systems . adoption of this technology is at a more advanced stage among european manufacturers than those in the united states and asia , but we believe that the trend will globalize .
our strategy includes continued acquisitions to support our signal transmission solutions strategy . there can be no assurance that future acquisitions will occur or that those that do occur will be successful .
we file annual , quarterly and current reports , proxy statements and other information with the securities and exchange commission ( sec ) . these reports , proxy statements and other information contain additional information about us . you may read and copy these materials at the secs public reference room at 100 f street , n . e . , washington , d . c . 20549 . please call the sec at 1 - 800 - sec - 0330 for more information about the operation of the public reference room . the sec also maintains a web site that contains reports , proxy and information statements , and other information about issuers who file electronically with the sec . the internet address of the site is urltoken .
pursuant to the new york stock exchange ( nyse ) listing standards , we submitted a section 12 ( a ) ceo certification to the nyse in 2008 . further , we are herewith filing with the securities and exchange
commission ( as exhibits hereto ) , the chief executive officer and chief financial officer certifications required under section 302 of the sarbanes - oxley act of 2002 .
gray g . benoist was appointed vice president , finance and chief financial officer ( title changed as reflected in the above table in february 2009 ) in august 2006 . mr . benoist was previously senior vice president , director of finance of the networks segment of motorola inc . , a $ 6 . 3 billion business unit responsible for the
global design , manufacturing , and distribution of wireless and wired telecom system solutions . during more than 25 years with motorola , mr . benoist served in senior financial and general management roles across motorolas portfolio of businesses , including the personal communications sector , integrated and electronic systems sector , multimedia group , wireless data group , and cellular infrastructure group . he has a b . s . in finance & accounting from southern illinois university and an m . b . a . from the university of chicago .
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ppc is the market leader for the ' last mile ' of a broadband network . we offer xttx™ solutions for coax , fiber and category cable around the world .
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orient commercial joint stock bank ( also known as oricombank , and ocb ) is a large bank located in vietnam .

swift code : orcovnvx .

as of april 2007 , 10 % of oricombank was owned by bnp paribas , a french banking group .

august 26 , 2009 ocb agreed to increase steadily share ownership for bnp paribas from 10 % to 15 % and to 20 % after the approval of the state bank of vietnam and the government .

orient commercial joint stock bank

the bank is incorporated as a joint stock company under the name of “eastern commercial bank . ”
this branch code value means this is the primary office ( or head office ) for orient commercial joint stock bank .
we aim to develop orient commercial bank into a universal bank with retail banking as its core business . orient commercial bank set the target to become one of the top ten vietnamese joint stock banks in 2015 , and mature into a financial group in 2020 .
ocb orient commercial bank interest ratesorient commercial joint stock bank ( ocb ) is a vietnamese bank founded in 1996 with joint ownership from various parties including french global banking firm bnp paribas and the state bank of vietnam . it provides banking services and products to retail and comm . . . read more
swift code orcovnvxxxx also known as bic code is a unique bank identifier of orient commercial joint stock bank and it ' s used to verify financial transactions such as a bank wire transfers ( international wire transfers ) .
chairman nghiêm xuân thành said the bank would divest from the banks in which its stakes were not high , including orient commercial joint stock bank ( 5 . 07 per cent ) , saigonbank ( 4 . 3 per cent ) and cement finance joint stock company ( 10 . 9 per cent ) for a combined value of about vnđ300 billion .
despite efforts to implement circular 36 , the joint stock commercial bank for foreign trade of vietnam ( vietcombank ) still owns more than 7 . 16 % share of military bank - mb ( down from 9 . 8 % previously ) ; 8 . 19 % shares of vietnam export import commercial joint stock bank - eximbank ( previously 8 . 2 % ) ; 4 . 3 % shares of saigon bank - saigonbank ( previously 5 . 26 % ) ; 5 . 07 % share of orient commercial joint stock bank - ocb - this level even increased when vietcombank previously had only 4 . 6 % stake in ocb .
on this page you will find detailed information on bic code orcovnvx for orient commercial joint stock bank . this swift code follows the same general structure as mentioned in the next section . for a detailed breakdown analysis of bic code orcovnvxxxx , scroll towards the bottom of the page for specific details .
orient commercial joint stock bank is a small privately - owned commercial bank headquartered in ho chi minh city , vietnam . at end - 2016 , it held consolidated assets of vnd64 trillion ( around $ 2 . 8 billion ) , including gross loans of vnd38 . 5 trillion ( around $ 1 . 7 billion ) . it pursues a high - growth strategy centered on retail and corporate loans .
some smaller commercial banks in the past week have raised the interest rates they offer on us dollar deposits by 0 . 9 to 1 . 3 percentage points to as high as 6 . 1 per cent per year . commercial banks in hcm city are actively to trying to attract dollar deposits in the first days of 2011 , especially in the run up to tet when remittances to viet nam increase significantly . on january 12 , viet nam thuong tin commercial joint stock bank ( vietbank ) raised its interest rates on dollar deposits by 0 . 9 - 1 . 3 per cent per year for one to 36 - month terms . vietbank now offers 5 . 9 per cent interest on six - month greenback deposits and 6 per cent interest rate on 12 - month deposits , apart from other incentives . on january 8 , western bank announced its new short - term dollar deposit rates , increasing it to 5 , 5 . 1 and 5 . 3 per cent on one , two and three - month deposits , respectively . at some other small commercial joint stock banks including the kien long bank , orient commercial bank , sai gon commercial bank …
through its subsidiaries , commercial bank is able to offer a wider range of products and services to individuals and organisations alike .
bankmed acquires 41 % of mng bank in turkey along with arab bank which also acquires 50 % of mng , and the bank is renamed turkland bank ( t - bank ) .
— this article is about the largest commercial bank in greece . for the central bank of greece , see bank of greece . national bank of greece s . a . εθνική τράπεζα της ελλάδος α . ε . type anonymi etairia …
in addition to many banks still holding shares in excess of the regulations , many banks and companies have been seeking to reduce this level to comply with circular 36 . typical himlam corporation has withdrawn all shares owned by lien viet post commercial joint stock bank ( lienvietpostbank ) and no longer shareholders as of june 23rd . previously , this company was the founding shareholder , and the largest shareholder in lienvietpostbank owns 14 . 98 % of charter capital , equivalent to 96 . 77 million shares . this is considered a positive move to avoid cross ownership when the chairman him lam sitting on the
hot seat
of saigon commercial joint stock bank ( sacombank ) .
the bank acquires allied business bank in lebanon ( together with its subsidiary in cyprus ) and changes its name to allied bank .
orient 1 is a fully owned subsidiary of the bank incorporated in bermuda and is engaged in supporting the credit card operations of the diners club franchise in the sultanate of oman .
banks raise dollar rates as vietnam dong still under cap by thuy trieu - the saigon times daily hcmc – several banks have raised interest rates for dollar deposits in a bid to consolidate their shares on the mobilization market now that the interest rate for all funds in vietnam dong has been capped at 14 % . since late last week , western commercial bank has raised deposit rates for the greenback at between 5 % and 5 . 3 % per year , all for short - term savings . meanwhile , southeast asia commercial bank has set the highest deposit rate for the dollar at 6 % per year . at other joint - stock banks such as kien long bank , orient commercial bank , saigon commercial bank , and an binh bank , the highest dollar deposit rate is between 5 . 1 % and 5 . 6 % per year . only big banks having strength in international payment and import export finance like eximbank , acb , and sacombank can keep dollar deposit rates at less than 5 % per year . bankers said they raised the interest rate to increase mobilization , …
thus , this bank is
violating
the provisions of circular 36 when this circular provides that a commercial bank can only hold shares of no more than two other cis , subsidiary they are the affiliated companíe of that bank ; the commercial bank owned by other credit institutions must be less than 5 % of the voting capital and not be allowed to appoint any person to the board of directors of the credit institution where the bank buys shares , unless the ci is a subsidiary or is taken by a commercial bank who participate in restructuring and processing of weak cis as designated by the sbv .
the bank increases its share in t - bank from 41 % to 50 % . t - bank is now 50 % owned by bankmed and 50 % by arab bank group .
banque de la méditerranée acquires 75 % of saudi lebanese bank to become the largest bank by total assets in lebanon .
allied bank merges into bankmed and the remaining 25 % of saudi lebanese bank ( slb ) are acquired by bankmed .
26 июня на лондонской фондовой бирже ( london stock exchange ) размещен 3 - й выпуск облигаций международной финансовой корпорации ( мфк ) , номинированных в узбекских сумах - «samarkand bonds» .
recently , the vietnam securities depository center has announced the transfer of 81 . 3 million mbb shares of military bank ( mb ) to maritime bank of vietnam ( maritime bank ) to the ha nam development joint stock company - belonging to vietnam investment and development group ( vid group ) . this is considered a move to reduce cross - ownership at mb of maritime bank ; but the problem is that the chairman of the board of vid group is the chairman of the founding committee of maritime bank , the
relatives
of the chairman of the maritime bank . therefore , if the issue of cross - ownership of cis under various layers is to be seen as a looser , more cumbersome control , so many professionals can see that the visible pairs are the “icebergs” .
corporate , commercial and retail banking segments with high value products , services and solutions . abank has 59 branches located all across turkey . through its branch network , abank has direct access to the regions in turkey where 85 % of the country’s gdp is generated . in 2015 , abank continued to work closely with its counterparts in commercial bank to implement best international practice and continue to create synergies .
the selling price will not be lower than the price chosen by a valuation institution and its closing price on the hcm stock exchange on the trading day preceding the issuing date .
swift code is a standard format of bank identifier codes ( bic ) and serves as a unique identifier for a bank or financial institution .
cbq finance limited is an exempt company with limited liability incorporated in bermuda under the companies act 1981 . the company is organised as a special purpose entity and has been established to raise capital for the commercial bank of qatar by issue of debt instruments .
commercial bank financial services ( cbfs ) is a fully owned subsidiary of commercial bank . cbfs provides direct access to the qatar exchange and offers seamless online trading capabilities for individuals , institutions , corporate and foreign counterparties . in addition to its electronic trading platform , cbfs is also licensed by qatar financial markets authority to act as liquidity provider for certain securities at qatar exchange . in 2015 , cbfs delivered a net profit of qar 5 . 3 million as compared to qar 19 . 3 million in the previous year .
vietcombank is the most expensive bank on the stock exchange with a share price ranging around vnđ35 , 000 ( $ 1 . 54 ) a share . it is also the biggest listed lender with market capitalisation at vnđ126 . 3 trillion ( $ 5 . 6 billion ) on friday .
the fidelity bank ( philadelphia ) acquires 80 % of the bank’s shares and the remaining shares are purchased by united trading group kuwait and dr . osman aidi .
overall , all of the large banks such as vietinbank , vietcombank , vietnam development bank ( bidv ) , agribank have been owning other cis . in addition , many smaller commercial banks have shares of big banks , but also hold a lot of shares in other credit institutions .
vcn - after the achievement on revenue and profit in 2017 and the first quarter of 2018 , the banking sector continuously receives optimistic forecasts in the securities market , especially when many banks will list on the stock exchange .
the lender plans to retain its holding in military bank ( 7 . 16 per cent ) given the bank’s positive performance and stable dividend payout . however , it will seek the central bank’s approval to divest 8 . 19 per cent of capital from eximbank ( eib ) .
the bank issues 1 . 5 million new series 3 preferred shares at an issue price of usd 100 , contributing further to the bank ' s capital increase of usd 153 million .
mig acquires the balance of the bank’s shares ; therefore , the bank , with a capital of lbp 50 million and a banking network of 13 active branches , becomes a wholly owned subsidiary of mig . in the same year , the bank’s capital is increased to lbp 100 million
the first 4 characters (
aaaa
) specify the bank . only letters are allowed .
vietcombank has two major stakeholders , of which the state bank of vietnam owns 77 . 11 per cent and mizuho bank 15 per cent . mizuho is the only foreign strategic investor of vietcombank .
banque de la méditerranée - france is merged into banque française de l’orient s . a . ( bfo ) , a french banking institution controlled by crédit agricole indosuez . as part of the same transaction , the ownership of banque de la méditerranée ( suisse ) , s . a . is transferred to bfo .
as many as three dozen defendants appeared in a ho chi minh city court on tuesday for involvement in a high - profile case causing the loss of more than vnd9 trillion ( us $ 401 . 79 million ) from the state budget . as many as three dozen defendants appeared in a ho chi minh city court on tuesday for involvement in a high - profile case causing the loss of more than vnd9 trillion ( us $ 401 . 79 million ) from the state budget . the man who bears the main responsibility for the massive loss at the erstwhile vietnam construction joint stock commercial bank ( vncb ) is pham cong danh , 51 , the lender’s former chairman . danh was arrested in july 2014 , and the vncb is now known as the construction bank , after the state bank of vietnam intervenedto bail it out following the scandal caused by danh . the trial is expected to run for a month until august 18 , as the vncb case is considered one with the largest - ever financial damages in vietnam . in 2014 , huynh thi huyen nhu , an ex - official of state - run …
vietcombank holds capital in five other credit institutions , three more than allowed by the state bank of việt nam .
the board of directors of bankmed adopts major reorganization and restructuring measures with key changes in the bank’s senior management .
this unique swift code directory provides businesses and individuals with an easy way to avoid bank transfer and money transfer mistakes .
aig’s name is changed into méditerranée investors group ( mig ) , and the latter acquires 59 % of the bank’s shares from fidelity bank ( philadelphia ) . at that date , the remaining shares were held by : the fidelity bank ( philadelphia ) 12 % , united trading group ( kuwait ) 15 % , and joseph el - khoury 14 % .
banque de la méditerranée ( suisse ) , s . a . is established as a wholly owned subsidiary of the bank .
the bank ' s overall liquidity position is comfortable , with liquid resources representing 35 % of tangible banking assets at end - 2016 . however , 21 % of liquid assets is pledged against borrowings , a situation which weakens the overall liquidity profile of the bank . moody ' s expects that the bank ' s proportion of liquid assets will moderate over time against the backdrop of loan growth .
unless you have entered into an express written contract with moody’s to the contrary , you agree that you have no right to use the information in a commercial or public setting and no right to copy it , save it , print it , sell it , or publish or distribute any portion of it in any form .
is a standard format of bank identifier codes ( bic ) and it is unique identification code for a particular bank . these codes are used when transferring money between banks , particularly for international wire transfers . banks also used the codes for exchanging other messages between them .
the bank ' s loan book is focused on the corporate and retail sectors , which accounted for 58 % and 39 % of gross loans , respectively , at end - 2016 . the bank ' s corporate loan portfolio has concentrations in construction and real estate ; a credit negative .
the b2 long - term ratings could be upgraded , if the bank ' s bca is upgraded and vietnam ' s sovereign rating is upgraded .
incorporated in 2010 and provides a range of insurance products which have been tailored to meet the specific needs of the bank’s retail and corporate customers .
deposits q : greetings , i ' m interested in your term deposits aprox 350k usd . please advise if interested and the way your bank operates cheers
deposits q : i am an australian national who wants to open a bank account for a 6 to 12 month term deposit . how can i qualify ?
accordingly , the proposal calls for the review , amendment , and supplementation of the concept of
related person
to ensure broader coverage of similar interests ; to review and amend the criteria and conditions for the posts of chairman of the board of directors , member of the board of directors , member of the control board , general director , etc . , in a stricter way ; revised regulations on shareholding limits for shareholders of credit institutions to publicize shareholders , limiting manipulation etc . in addition , the proposal also requires the listing of shares of commercial banks on the stock market to increase mass ; banks must disclose publicly , transparently and accurately informed on their business strategies , ownership , financial position , management structure ; improving the accountability of cis with the public . . .
vietnam international bank ( vib ) has reached an agreement with the commonwealth bank of australia ( cba ) to acquire its ho chi minh city branch , the local commercial lender announced without disclosing the value of the deal on monday . vib will take over the cba’s ho chi minh city operations , with more than 22 , 000 individual and corporate customers affected , according to the agreement . “we expect this process to take several months , ” shane o’connor , general director of the cba ho chi minh city branch , said in a statement . “we will be contacting customers in the coming weeks to provide more information on what this means for them and the transition of their banking relationship to vib . ” neither vib nor cba has disclosed the value of the sale . the cba said in a separate announcement that the bank will “continue to service our existing customers until the transition to vib …
deposits q : q : i am an malaysian national who wants to open a bank account for a 6 to 12 month term deposit . how can i qualify ?
the bank buys 35 % share in bfo from crédit agricole indosuez and acquires of 100 % of bfo suisse . the latter’s name changes to bankmed ( suisse ) .
© urltoken 2010 - 2018 - although we cover a range of products that we update periodically , please confirm the precise terms and interest rates of the product with the relevant bank .
the bank swift code provides information about the bank and branch where the money should be transferred . being able to check information about the swift code will provide you with the proper information necessary to make or receive payments . some of the banks and their associated branches benefit from an address listing which provides you with the means to match swift codes with financial institution office address .
méditerranée investors group ( liban ) is incorporated in lebanon by h . e , late pm , mr . rafik hariri . it acquires the entire shares of the bank from other related entities .
if you’re not sure about any of the swift code details you’re using , get in touch with the bank or financial institution in question . they should be able to give you the right information .
the overlapping issue between iso 9362 and iso 13616 is discussed in the article international bank account number ( also called iban ) . the swift network does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners . in the process of the single euro payments area the european central banks have agreed on a common format based on iban and bic including an xml - based transmission format for standardized transactions ; the target2 is a joint gross clearing system in the european union that does not require the swift network for transmission ( see ebics ) . the target - directory lists all the bics of the banks that are attached to the target2 - network being a subset of the swift - directory of bics .
at the bank’s annual shareholders’ meeting on friday , its chairman nghiêm xuân thành said m & as would be a long - term strategy and should ensure that vietcombank expands its network and accesses new markets .
the first 4 characters - 4 letters (
aaaa
) : institution code or bank code - this code is used to identify the institution’s global presence ( all branches and all divisions around the world ) .
the bank expects to expand its credit outstanding by 15 per cent to vnđ547 . 1 trillion , total capitalisation up 14 per cent to vnđ684 . 8 trillion and keep the bad debt ratio below 2 per cent .
- oricombank was established under decision no . 0061 / nh - gp dated apr . 13th , 1996 by governor of state bank of vietnam - it was granted business license no . 059700 by hcmc’s planning and investment department
viet nam news hà nội - the vietnam international bank ( vib ) aims to earn a pre - tax profit of vnđ750 billion ( us $ 33 million ) in 2017 , 7 per cent higher than last year ' s figure . according to the vib ' s business plan published on wednesday , the bank targets vnđ120 trillion in total assets , up 15 per cent year - on - year . it also strives for a minimal decrease in credit balance with the việt nam asset management company ( vamc ) and non - performing loans ( npls ) controlled below 3 per cent . the bank ' s goals for this year will also include a credit growth plan with two options which will be 16 per - cent credit growth approved by the state bank of việt nam ( sbv ) previously and 32 per cent credit growth estimated by the management board based on its risk management capability and the economy ' s priority direction , depending on sbv approval . besides , the bank ' s board of directors also proposed a plan to mobilise funds , expected to cost up to vnđ7 trillion , on the secondary market for up to 10 …
when you send or receive an international wire with your bank , you might lose money on a bad exchange rate and pay hidden fees as a result . that’s because the banks still use an old system to exchange money . we recommend you use
the b3 bca assigned to ocb reflects its modest solvency and funding metrics . the bca also takes in account moody ' s expectation that the bank ' s asset quality and capital profile will weaken over time , because of its aggressive loan growth strategy .
swift code or also commonly known as bic code is a standard format to uniquely identify a bank , financial institution and non - financial institution . this standard approved by the international organization for standardization ( iso ) . bic stands for business identifier codes .
previously , the state bank issued many legal documents related to the treatment of cross - ownership of credit institutions , reducing the ownership of capital among credit institutions . the government ' s direction has repeatedly called for a resolution of this situation . recently , resolution no . 61 of the government ' s regular meeting in june 2017 requested the state bank to strengthen the control and prevention of cross - ownership and manipulation in the operations of credit organizations in a timely manner to severely punish violated organizations and individuals .
in august last year , vietcombank and singapore sovereign wealth fund gic signed an agreement for gic to acquire a 7 . 73 per cent stake , equivalent to 305 . 8 million new shares in the bank’s planned private placement of nearly 360 million new share issue .
moreover , to address this situation , according to a study by experts from the national economics university , the banking sector needs to comprehensively upgrade the level of safety to a new higher standard , according to the basel plan ii , taking into account the new adjustments in basel plan iii . in the medium and long term , reputable credit institutions may choose to add stock options on the international market , increase their financial capacity , create pressure to apply international practices and the best accounting standards in business administration ; to create a connection between domestic and foreign capital markets , contributing to stabilizing the domestic capital market . these options will help control and oversee cross - ownership of cis .
the transaction , subject to approval by the prime minister and the state bank of việt nam , has not taken place as by the end of last year gic’s offer was considerably lower than market value . thành said vietcombank would re - negotiate with gic for a better price .
emkan finance sal ( microfinance lending arm ) is established in lebanon as a wholly owned subsidiary of bankmed . the microfinance business of emkan was initially established in 2008 under an ngo and was later converted in 2011 into a financial institution , licensed by the central bank of lebanon .
viet nam news hà nội - vietnam international bank ( vib ) posted after - tax profit of vnđ126 billion ( us $ 5 . 53 million ) in the first quarter of this year , up 14 per cent year - on - year . according to the bank ' s business results , released today , its net interest income , net fee and commission income and gain from investment securities also experienced positive growth of 16 per cent , 31 per cent and 21 per cent , respectively . debts purchased from the việt nam asset management company have been handled well , resulting in a decrease of 2 . 19 per cent in the bank ' s non - performing loan ratio as of march 31 , lower than the 2 . 58 per cent seen at the end of 2016 . meanwhile , the bank ' s provision cost dropped by 8 per cent compared with the same period last year . vib ' s balance sheet reached nearly vnđ106 trillion in the first three months , vnđ 1 . 4 trillion higher than the same period last year , mainly thanks to good growth momentum of the lending portfolio , the latest data revealed . lending …
viet nam news hà nội - vietnam international bank ( vib ) received shareholders approval to distribute 44 . 6 per cent dividend payment rate in 2016 , including 5 per cent in cash and 39 . 6 per cent in bonus shares . the rate is 25 per cent higher than the previous year , which included 8 . 5 per cent in cash and 16 . 5 per cent in bonus shares . at their meeting in hà nội on thursday , shareholders agreed to pay bonus shares to the bank ' s employees at a rate of 0 . 4 per cent of the charter capital . the bank ' s shareholders also approved the business plan for this year , which includes pre - tax profit of vnđ750 billion ( us $ 33 million ) , surging 7 per cent over last year ' s figure , and vnđ120 trillion in total assets , up 15 per cent year - on - year . vib chairman đặng khắc vỹ believed 2017 would be a promising year for the banking industry and the bank would focus on ensuring the quality of products and customer services and investing in human resources to reach the reviewed goals . hàn ngọc vũ , vib …
the vietnam international bank ( vib ) and commonwealth bank of australia ( cba ) announced on monday that cba’s hcm city branch would be sold to vib . representatives of the two banks at the announcement event . the sale was approved by the state bank of viet nam last week , the two sides said . they however refused to disclose the value of the transaction . vib has a network of 160 branches and more than 400 atms across viet nam . cba said its hcm city branch has around 20 , 000 customers . “this decision signifies our commitment to the vietnamese market as we strengthen our partnership with vib , ” steve ellis , general manager of cba in viet nam , said . “it demonstrates the confidence cba has in vib to continue to provide high - quality service to our customers . ” cba said it would retain the representative office in hà nội , which it had opened in 1995 , to liaise with government …
despite efforts , this is still a problem for many years . according to bank finance expert , dr . nguyen tri hieu , these regulations have not been implemented largely due to the consciousness of the shareholders . because they have a large shareholding , so that they can take advantage of their position to develop their business and take advantage of their shareholdings to gather power , these shareholders do not want to deprive them of their power .
for many , managing a bank is a very powerful financial tool to finance their projects . despite the credit limits , they still have ways to overcome that limitation
, dr . hieu commented .
in the first quarter of this year , the bank reported pre - tax profits of nearly vnđ2 . 65 trillion , up 15 per cent year - on - year . last year , it earned pre - tax profits of over vnđ8 . 5 trillion , up 25 per cent year - on - year . – vns
on the other hand , ocb ' s long - term ratings could be downgraded if its problem loans ratio — as adjusted by moody ' s — rises above 10 % of gross loans , or if its tce ratio drops significantly below 7 % . the ratings are also sensitive to a significant weakening in the bank ' s liquidity profile .
vcn - with efforts and determination to restructure the system of credit institutions ( cis ) , ensuring safety for the financial system , the government and the state bank of vietnam give more guidance to reduce the cross - ownership of credit institutions to safe levels . however , directing is not enough , this issue needs the effort and awareness of the banks as well as the stakeholders .
in terms of government support for ocb , moody ' s applies the same moderate support assumption as for other private - sector banks in vietnam . as a result , ocb ' s b2 long - term ratings incorporate one notch of uplift from its bca of b3 . the moderate support assumption is mainly underpinned by the bank ' s market share of around 0 . 8 % of system assets at end - 2016 .
moody ' s will consider upgrading the bca if the bank ' s adjusted problem loans ratio falls below 4 % , and its tce ratio exceeds 10 % . loan diversification away from real estate and construction loans - - which moody ' s considers as higher - risk in vietnam - - would also be positive for the bca . an improvement in vietnam ' s macro profile of weak would also be bca - positive .
ocb ' s funding profile is moderate , because its small market share in system deposits disadvantages the bank in competing with larger rivals for depositors . such a situation is reflected by ocb ' s cost of deposit funding , which is one of the highest among the 15 moody ' s - rated banks in vietnam . ocb also shows some reliance on market funds , with wholesale liabilities funding 22 % of assets at end - 2016 .
banks keen to sell bad mortgaged assets to vamc thanh thuong by thanh thuong - the saigon times daily hcmc – banks want to sell mortgaged assets that have deteriorated to vietnam asset management company ( vamc ) , saying they can handle the not - so - bad ones themselves , heard a conference on a draft circular regulating vamc operations the circular only contains provisions on trading of secured debt , and does not mention unsecured debt , whereas most lenders are having trouble dealing with the latter , said a representative of viet a bank . sharing his experience of debt settlement , a representative of kien long bank said he faced the biggest challenge when mortgaged assets deteriorated and debtors moved away . however , the circular does not mention how to deal with such cases . “if mortgaged assets were good , banks would have sold them out already , ” he told the conference held by the vietnam banks association in hcmc last thursday . vamc is set up to buy the assets …
ocb ' s asset quality improved in 2016 , because of the full cash recovery of assets due from the government - owned vietnam development bank ( unrated ) , and healthy cash recovery on vamc bonds . however , moody ' s expects that ocb ' s asset risk will remain elevated over the next 12 - 18 months , because of the rapid loan growth of 39 % in 2016 and 30 % in 2015 , which were much higher than for the overall banking sector in vietnam .
national bank of oman ( nbo ) achieved strong results in 2015 , with net profit after tax growing 20 % to omr 60 million , compared with omr 50 million in 2014 . operating income grew by omr 22 million to omr 136 million , from omr 114 million in 2014 , mainly due to an increase in net interest income which was up 14 . 9 % to omr 95 million . during 2015 , nbo grew its customer lending by 9 . 4 % to omr 2 . 5 billion and customers’ deposits reduced marginally to omr 2 . 2
united arab bank ( uab ) delivered a net loss of aed 166 million for the year ended 31 december 2015 compared to a profit of aed 605 million in 2014 . the total operating income for the year ended 31 december 2015 decreased by 11 . 6 % to aed 1 , 213 million , from aed 1 , 373 million for 2014 . uab’s loans and advances decreased by 12 . 7 % to aed 15 . 7 billion as at 31 december 2015 , with customers’ deposits at aed 16 . 8 billion , down 10 % compared to 2014 .
therefore , the financial market overview report 2016 of the national financial supervisory commission has identified that the cross - ownership situation , cross - investment credit institutions are gradually controlled . according to the sbv , cross - ownership , and cross - investment of credit institutions are dealt with in one step ; the situation of shareholders / large groups of bank manipulation is treated a basic step . however , the problem still needs to be resolved more drastically , as many experts say that many pairs of cross - ownership of credit institutions are
hidden
under many layers to serve the interests of the group or to conceal the
creaking
financial situation of banks and related businesses .
banks see services earnings up thuy trieu by thuy trieu - the saigon times daily hcmc – financial reports of local banks showed that service earnings continued to increase in the jan - sept period this year , although lending rates fell against the same period of 2012 . most large banks that maintained loyal customers saw their earnings from services rising . meanwhile , small lenders mainly took revenues from lending interest rates as they made modest gains or even suffered losses from services . services of banks include issuing letters of credit ( l / c ) , international payment , money transfer for enterprises and automated teller machine ( atm ) fees , international payment cards and money transfers for individual customers . among 13 banks having announced third quarter financial reports , eight reported a rise in service gross profits . bank for investment and development of vietnam ( bidv ) took the lead in terms of profits in this sector with nearly vnd1 . 8 trillion , followed by …
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the rating history for this credit rating accurately reflects the current status of the ( sf ) indicator but , due to technical limitations , does not accurately reflect the ( sf ) indicator history . please visit the research tab to view the press release ( s ) announcing when the ( sf ) indicator was added or removed .
for credit ratings that are derived exclusively from an existing credit rating of a program , series , category / class of debt , support provider or primary rated entity , or that replace a previously assigned provisional rating at the same rating level , moody’s publishes a rating announcement on that series , category / class of debt or program as a whole , on the support provider or primary rated entity , or on the provisional rating , but often does not publish a specific rating announcement on each subsequent bond or note for which the credit rating is derived from the existing credit rating . rating announcements are usually press releases classified as rating actions on www . moodys . com . please refer to the research tab on the issuer / entity page for the rating announcement .
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the b2 long - term ratings assigned to ocb reflect its bca of b3 , and a one - notch uplift based on moody ' s expectation of a moderate probability of support from the government of vietnam ( b1 stable ) .
ocb ' s asset risk is elevated , but largely in line with the average for other rated banks in vietnam . around 6 % of its adjusted gross loans were problematic at end - 2016 , an improvement from 11 % at end - 2015 . our definition of adjusted problem loans includes special mention loans , nonperforming loans , problem loans sold to the vietnam asset management company ( vamc ) , restructured loans classified as performing , and other problem assets .
like the other banks in vietnam , ocb ' s rapid loan growth exerts negative pressure on its capital ratios . at end - december 2016 , moody ' s estimates that ocb ' s pro - forma tangible common equity ( tce ) to adjusted risk - weighted assets ( rwa ) fell to 7 . 9 % . this estimate assumes a cash dividend payout ratio similar to 2015 , and moody ' s standard increase in risk weightings for vietnam government securities to 100 % . such a result is around 160 basis points lower than at end - 2015 .
the principal methodology used in these ratings was banks published in january 2016 . please see the rating methodologies page on urltoken for a copy of this methodology .
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q : i am a thai national wants to open fix deposit account for 6 to 12 months . how can i qualify ?
ocb 1 year term deposit - deposits q : i am from singapore . can i open a fixed deposit account in vietnam dong ? can i deposit vietnam dong in cash ? are there any terms and conditions ? i await your reply . thank you .
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these codes are used when transferring money between banks , particularly for international wire transfers . on top of that , the code is used to transmit messages between financial institutions and banks .
the swift code can be either 8 or 11 characters long and 8 digits code refers to the primary office . the format of swift code is as follows ;
the next 2 characters (
bb
) specify the country . it use the format of iso 3166 - 1 alpha - 2 country code .
the next 2 characters (
cc
) specify the location . letters and digits are allowed . passive participant will have
1
in the second character
the last 3 characters (
ddd
) specify the branch . this is an optional . a ' xxx ' refer to primary office . letters and digits are allowed .
a swift code is the standard format for business identifier codes ( bic ) and it ' s a unique identification code for banks and financial institutions globally . these codes are used when transferring money between banks , in particular for international wire transfers or sepa payments .
swift code , bic code , swift id or swift - bic ( iso 9362 ) is a standard format of business identifier codes approved by the international organization for standardization ( iso ) . it is a unique identification code for both financial and non - financial institutions . the acronym swift stands for the society for worldwide interbank financial telecommunication . when assigned to a non - financial institution , the code may also be known as a business entity identifier or bei . these codes are used when transferring money between banks , particularly for international wire transfers , and also for the exchange of other messages between banks . the codes can sometimes be found on account statements .
the swift code ( bic code ) consists of 8 or 11 characters . as an example let ' s take the following imaginary swift
aaaabbccddd
. this can be broken down as follows :
the 5th and 6th characters - 2 letters (
bb
) : this represents the iso 3166 - 1 alpha - 2 country code . as an example ,
us
stands for
united states
,
gb
for
united kingdom
,
de
for
germany
, ca for
canada
, etc .
the 7th and 8th characters - 2 letters or digits (
cc
) : this represents the location code . for example ,
ff
is the location code for
frankfurt
,
kk
is the location code for copenhagen , and so on . also the second character ( 8th in the bic code ) sometimes carries this information :
if the second character is
0
, then it is typically a test bic as opposed to a bic used on the live network .
if the second character is
2
, then it typically indicates a reverse billing bic , where the recipient pays for the message as opposed to the more usual mode whereby the sender pays for the message .
the 9th to 11th characters - 3 letters or digits (
ddd
) : these final three characters form a
branch code
that points to a specific branch of the banking institution . if this section is missing or is ( optionally ) filled by
xxx
, then we are dealing with an 8 - character swift code which implies this is a primary ( also know as head office ) of the financial institution . the typical naming convention is that in the case we are referring to the main offices of an a financial institution , this branch code is
xxx
.
where an 8 - digit code is given , it may be assumed that it refers to the primary office , however swift codes of primary office banking institutions can be used with or without the
xxx
branch code , depending on th requirement of the payment transfer you are working with .